Content:
- What is PayID?
- How to deposit using PayID
- How to withdraw using PayID
- How to set up PayID
- What are the fees and limits?
- Important facts about PayID you’d better know about
- Is PayID worth using at casinos?
A completely different from what we used to have payment method — PayID. It’s a code that is connected to your bank account, and which you use for casino deposits. The good news is that it works both ways. So you can carry out withdrawal transactions as easily and securely. Scroll down and find the best online casinos that accept PayID in Australia on this page.
What is PayID?
PayID was introduced in 2018 by the New Payments Platform (NPP). The idea of the method is to provide a code such as a phone number or email address, which is connected to a bank card or a bank account.
To make a casino deposit, for example, you only need your PayID code. This is a very secure payment method because you don’t share your account number and BSB. So technically, no one can steal your banking details.
How to deposit using PayID
This is an easy process that won’t take much of your time. Follow these steps to top up an account at your selected casino website that accepts PayID:
- Log in to a casino and go to the deposit section.
- Find PayID from the list of banking methods.
- Enter the amount of your deposit. Mind that Aussie banks have different limits.
- Provide your “code” associated with PayID. It can be an email address or your phone number.
That’s it! Instantly, the money will reach your casino account.
How to withdraw using PayID
Nothing complex in requesting withdrawals too. So follow these steps to cash out:
- Stay logged in to your casino and navigate to the withdrawal section.
- Select PayID from the available methods.
- Enter how much you want to cash out.
- Enter your PayID code and confirm.
In a few moments, your real money winnings will reach your bank card or bank account connected to your PayID.
Although the process is very straightforward and fast, you might not see your money as quickly as you expect. The thing is that some online casinos have a pending period. It usually lasts for 72 hours, and if you haven’t canceled your request, the money will be sent.
However, if you desire to gamble for more, you have 72 hours to return the money and play for a little longer. This is what the pending period is made for.
How to set up PayID
Okay, now if you think that PayID is the most fantastic payment option for online gambling in Australia, you need to set up your PayID, if you haven’t yet done it. Below, we’ll give you guidelines on how to do that easily and quickly:
- Make sure you have an account at an Australian bank that works with PayID. Major of them are the National Australia Bank, Bank of Melbourne, Commonwealth Bank, Westpac, and ANZ Bank. If so, you can proceed. If you don’t have an account, first create it according to the procedure of the bank.
- Access your bank account using a mobile banking app or online banking website.
- In the menu, you will see the Create PayID option. Click it and go to the next step.
- Select either your mobile number or email address as your PayID code.
- Verify your details by providing a verification code sent to your email or phone.
- Follow the instructions for linking your PayID to your bank account.
- Your bank will then check the details and finish the process. And you can use PayID for pokie sites that accept this payment system.
What are the fees and limits?
PayID doesn’t have any fees or limits on transactions. However, your bank may charge you and set limits. Some banks will allow you to send $2,000 daily, while others increase the limit up to $20,000. So it depends on your financial institution how much you can transfer. If it matters to you, learn it before creating your PayID.
The timeframe of your transaction may also differ, especially if you send a large sum of money through PayID for the first time. Your bank can find it suspicious and delay the transaction. Besides, the speed of deposits and withdrawals depends on transaction history and amount of money.
But in practice, PayID transactions are instant and don’t take more than 24 hours.
Important facts about PayID you’d better know about
PayID is a unique payment option, no doubt. And it has a few features that might help you when using PayID.
First, you can have as many PayIDs as bank accounts. If you are a client of more than one Australian bank, you can create more PayID accounts. But if you move banks, or change your email or phone number, make sure to update that in your PayID.
Second, you don’t have to set up a new PayID code when changing your bank account. Simply link your existing account at PayID to a new bank card or account.
If you use multiple bank accounts, use a unique PayID for each of them. It will help you easily manage PayID accounts.
Finally, you can use PayID at Australian casinos that don’t even support it. For this, you don’t need a bank account. Instead, you need to register with AstroPay. And while signing up, link PayID to your AstroPay account and transfer money from your bank using PayID. Then, when depositing, choose AstroPay from the list of options and complete your deposit.
However, withdrawals aren’t supported by AstroPay. So you will have to choose another system.
Is PayID worth using at casinos?
Now that you’ve got to the bottom line, you can answer this question yourself — absolutely yes! PayID doesn’t work like most payment systems such as online banking and e-wallets. PayID is not even an intermediary as it doesn’t charge you for transactions. It’s only a method to make transactions from your bank account without actually using bank details. It makes PayID secure for casino players.
Another advantage is that PayID works for deposits and withdrawals, which is a priority for many gamblers. Online casinos in Australia are aware of that. And when 15 million registrations were made in PayID, it became clear — casino sites must integrate PayID for their clients.
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