May be suitable for sole traders and small businesses that want to receive fast payments using a mobile number, email, ABN or Organisation Identifier.
It checks the account name, BSB, and account number you’ve entered against the details held by the recipient’s bank and displays a match outcome.
When you send money to a PayID, you’ll see the name
of the person or business it’s linked to, helping ensure your
money goes to the right place. A PayID is a unique identifier linked to
a bank account that makes sending and receiving money easy.
PayID is available in the online banking of participating financial
institutions.
