Your PayID is a unique identifier linked to your transaction account and can be your email address, mobile number or ABN. Once you create a PayID, you can provide it instead of your BSB and account number to make getting paid easier.
HOW A PAYID CAN HELP YOU
Transferring money online is now faster and simpler. Here’s an example:
Imagine you’re heading out for a night at the movies. You organise and pay for the tickets for you and your four friends. You let your friends know your new PayID and they use it to pay you via their mobile internet banking. You get the funds back within 60 seconds. Now you’re free to enjoy the movie and buy that popcorn.