What’s PayID and how it works

PayID is a service that allows you to use a unique identifier (such as your mobile number) and link it to one of your eligible accounts to receive NPP real time payments. Your PayID can only be registered to one account at a time. For example, if you register your PayID to your personal transaction account then any payments made to your PayID will be paid into that account.

After you create a PayID you can simply tell payers to make payments to your PayID instead of having to remember your BSB and account number.

It’s optional to set up a PayID so you can bank as normal without one.

There are many benefits to creating a PayID to receive real time payments, including:

• Fast – you can receive funds in near real-time
• Easy – no need to remember your BSB and account number to get paid
• Convenient – it is available 24 hours a day, 7 days a week, 365 days of the year
• Secure - NPP uses world leading technology certified to the highest data security standards.

All financial institutions offering PayID must meet strict requirements.  This includes the capability to detect and respond to fraud in real time.  Macquarie’s established fraud controls also apply to NPP (New Payments Platform) real time payments and we actively monitor for suspicious activity.