Last update at 27 February If you haven't noticed, most Australian casinos and betting sites like to have a limited number of deposit and withdrawal methods that are exclusive to Australian residents only. We understand where they are coming from, and that is why today, we are going to talk about one of the best latest payment methods in Australia, PayID.
Deposits and withdrawals have become a breeze after PayID graced the gambling scene in Australia. Gamblers no longer have to disclose their identities to third-party financial institution when making deposits at online betting sites. It is different when it comes to withdrawals because most of the time punters have to rely on the bank transfer.
Anyhow, because PayID is an interesting topic, we will begin describing it one at a time. Hope you can catch up!
PayID is an Australian quick financial transaction method that uses a memorable piece of information, like an email address or mobile phone number to send and receive payments. This payment system needs to be linked to your bank account, especially the BSB and account number or email address in order to process payment.
Deposits and withdrawals are easier with casino sites that are already registered with the best PayID. In fact, you just need their PayID to make the deposit payments and withdrawals.
However, this payment option is only available to 100 or so Australian banks. So, if you are already with one of the participating banks, you can create your PayID account today. Then, you can enjoy free spins and welcome bonus promotions on different casino and betting sites in Australia!
How to Setup Your PayID
Before you get hyped up about setting up your bank account with PayID, you should know that this special payment method can only be used with some banks. You may need to Google the names of these banks to see if you are already registered with any of them!
Provided that you are already with one of the participating banks that support PayID or you are going to open a bank account with one of them, let's show you how you can activate the PayID feature.
Login to Your Internet Banking
Whether you can enjoy the rewards of using PayID or not depends on the bank you are signed up with. An Australian bank will have online banking facilities if you have a bank account with it. So, log in to that platform, and click on Settings.
Search for the word PayID in the Settings section. It should come up easily if your bank supports this payment system. If not, call your bank (Bank of Australia, NAB, Westpac, CommBank, or others) to enquire about how you can set up the system for deposits and receiving withdrawals from various betting sites in Australia.
Link Your Bank Account with the PayID
Select the PayID option, follow the required steps, and you are done! As simple as that! PayID is an efficient payment method that can be considered better than bank transfer since you don't need to disclose your account information to the betting sites where you are making deposits and withdrawals.
Check Casino and Betting Sites for PayID
Now that you have your own PayID, you can use it to deposit money to casinos and betting sites without giving away your bank account number or relying on the traditional bank transfer.
Before making deposits with any betting sites, check their payment page to see if they permit PayID transactions. If the answer is yes, you found the right betting platform! If not, which is common, Google searches the terms 'PayID casinos Australia', and you will be able to find a few betting establishments in the country that serve the purpose.
How to Deposit Funds to Betting Sites with PayID
PayID is actually a quite simple payment method for online casinos in Australia that accept PayID. Generally, there is no min deposit amount applicable and you don't need to disclose your bank account and other financial information to make a payment with the best PayID.
There are other similar deposit options like PayID, but they are not exclusive to Australian punters. If you want to keep your private information hidden and deposit money to the online casino and betting sites anonymously, PayID is a perfect choice!
Additionally, before you enjoy the free spins and welcome bonus offers, check if the betting site permits PayID as its online payment method. Without meeting the wagering requirements, you won't be able to withdraw your winning later. So, don't forget to check!
Anyhow, let's get on with the procedure needed to deposit funds to the online casino and betting platform through PayID.
Open Your Bank's App
To start, log in to your casino account and derive its PayID information. You need to open your bank's app and choose to Pay Someone. Now, the online casino may use its mobile phone number or email for PayID. If it uses a mobile phone number, select the mobile phone number from the options provided.
Select the Right PayID Type
On the other hand, if the casino is using its email address, landline number, ABN or ACN, then you have some work to do. But not much! Just choose the + sign in the top-right corner of your CommBank app, and find the PayID type from the drop-down menu.
Enter the Amount of Money
In the empty box, type the amount of money you want to deposit to the PayID casinos. You should also mention that it is a deposit for the casino in the description box. 280 characters are the maximum you can fit in there though.
Confirm the PayID Payment
Once you go over the fund amount and the description, you can confirm the deposit payment from your bank account. The online banking transaction will appear instantly on the history page of your deposit or withdrawals history page. But the actual process may take 24 hours for security purposes.
If you have paid money to these PayID online casinos and betting websites in Australia before, then the transactions will be carried out faster. Therefore, if you choose to deposit funds to the betting sites through PayID, it won't take more than a few seconds to get through!
Best casino sites with PayID payment
In Australia, more online casinos accept PayID as a Payment method, this is due to its easy way to make transactions. Also, PQWET, the Australian online casino with PAYID, assures that it is one of the safest in the gambling market.
It doesn't matter if you have never used it before; we are sure you will quickly get us to the PayID gambling.
How to Withdraw Funds from Betting and Casinos Sites with PayID
We have gone over how you can make a deposit to sports betting sites and online casinos in Australia. Now we want to show you how you can receive your withdrawals from the gambling platforms using PayID.
Log in to Your Casino Account
Log in to your betting account, choose PayID from a series of payment methods, and then enter the sum for withdrawals. Approval and processing of the funds may take a day just on your first withdrawal attempt, but not afterwards.
To withdraw funds from casinos that accept PayID in Australia, you need to have your own PayID with CommBank, Westpac, Bank of Australia, NetBank, or others. As mentioned before, you can register for a PayID with your phone number or email address without involving your bank account.
Provided the online casinos or sports betting sites are part of the participating financial institutions in Australia that use PayID, they can easily send real money to your PayID through internet banking. Some Australian banks may do this differently, but their processes will be integrated into the Pay Anyone banking method.
Check for Confirmation
When the casino or sports betting site sends you real money, you will see its PayID name appear on the screen. The online gambling site has to confirm that it is you receiving the PayID payments, and the bank will safely make payments to your PayID account.
To confirm the payments, you can check your PayID transaction history for all the details. Sometimes, when PayID users send money, you may see the Osko logo in your account history. There is no need to worry here because Osko is just a new payments platform for PayID.
With the money you get from the casinos, you can decide whether you want to invest in something else or continue to play on the online casino account. If you end up facing some difficulty during money withdrawals, just contact customer support for assistance.
Security Features of PayID Online Casinos
The security features of payment methods in the betting industry are of paramount importance. No Australian gamblers are willing to use a payment method that can't guarantee the security of their finances, bank transfer or otherwise.
As far as PayID is concerned, you should check first what type of banking method is supported by the Australian betting sites that you are on, this is especially true for new customers.
To have a PayID, you must have a bank account with one of the Australian financial institutions that accept this payment method. If you have PayID, you don't have to share your bank account number and bank details with online betting sites. All you have to do is use your email or phone digits to deposit and withdraw money from the online casino without needing any formalities associated with a bank transfer.
The payment service uses two-factor authentication during a financial transaction, and you will get an SMS to confirm the transaction in process. Although the process remains the same for all Australian banks, some rules may differ as they are subject to the specific guidelines of each financial institution.
With that being said, the PayID payment option goes through real-time fraud screening and detection to prevent misuse of customer information and account. Therefore, your online banking details are kept hidden and safe by the bank while you make deposits with your PayID account instantly.
Regardless, new customers who still rely on bank transfer and other traditional payment methods may be wary of PayID. But we can say for sure that you can trust this payment system for deposits at betting sites. It is new, and maybe better than the other methods.
Pros and Cons of Betting with Pay ID
Approved by banks
Eliminates split bill
Processing time can take longer depending on the bank
Doesn’t handle crypto transactions
Benefits of Using PayID for Casinos and Sportsbooks
PayID is a new payments platform that challenges traditional banking methods. Australian financial institutions have been working relentlessly to make real-time payment methods as secure as old-school payment options.
Having said that, the following upgrades have been made to PayID casinos so that Australian gamblers can have peace of mind while engaging in online casinos and sports betting sites.
Send and Receive Payments without Asking for Details
PayID lets customers send and receive money to online casinos without asking for too many details, such as Bank State Branch (BSB) number and other account details.
Having said that, you need to provide the casino with your banking information to proceed with deposit or withdrawal payments. That is why no third party can leech onto your banking details like credit card number, account number, email, or phone number.
You Know Who You Are Sending Money to
Just because you didn't gather too much information about the casino or the betting website doesn't mean that you will be sending money to the wrong individual or institution. If the other party has a PayID, the name of the person will be displayed on the account transaction. Therefore, you will know that you are making deposits to the right person.
Receive Funds Instantly
Yes, there are other payment methods that offer the same privileges, like PayPal, Skrill, and Neteller. But PayID is exclusive to Australian punters, which is what makes it so special to us!
PayID users don't have to comply with the working hours of any Australian financial institution. Therefore, you can make deposit payments anytime, anywhere to casinos and betting companies in Australia. With PayID, you can make instant deposits and withdrawals without wasting any time during account transactions.
The secure payment system of PayID is monitored and regulated by the Bank of Australia, CommBank, Westpac, and several others banks in Australia. So, the bank guarantees 100% security from unauthorised transactions and scams. That being said, you can inform the bank of any suspicious activity with your payment system, and the bank will take immediate action to inspect your deposit account.
No Charges Apply
Using PayID does not come with a demanding series of fees. Although the min deposit and withdrawals may vary for different casinos and betting companies, there is no additional cost imposed on the transactions for deposits.
Limitations of PayID in Casinos and Betting Sites
PayID is part of the new deposit method in Australia that is supported by most financial institutions in the country. With that being said, this payment system can have some drawbacks even though there is little evidence to find them. But it’s best to be acknowledged, so let’s check them out at a glance!
Minimum and Maximum Daily Limits
The daily minimum and maximum limits regarding deposits and withdrawals from your PayID may differ from bank to bank. However, generally, the daily maximum deposits per account through PayID are $10,000. On top of that, if your casino has a deposit or withdrawal limit, that can get in the way as well.
Not Accepted by All Casinos and Sports Betting Sites
Even though PayID is a convenient payment system for new customers and old customers, not all casinos and sports betting sites can support this payment method, especially the international betting platforms.
Having said that, you have to check the online casino's acceptable payment methods beforehand to confirm whether it lets account payment through PayID. Currently, the only currency that PayID supports is AUD and it is strictly reserved for people residing in Australia.
Honestly, you have access to all the casino games and betting events if you use PayID as your deposit method and withdrawal method. You become eligible for the welcome bonus and free spins upon registration with the casino and the betting establishment, and then play poker, baccarat, blackjack, slots, video slots, and so much more!
Yes, it is possible to reverse your PayID payments if money has been sent to the wrong person or betting institution. You just have to inform your bank about the incident with your banking information, and it will be taken care of!
Creating your own PayID online banking account for deposits on betting platforms is easy and instant. The account details you need for deposits are your phone number or email address to set up your PayID account. If you want to create a PayID through your Australian Business Number (ABN), it may take 2 business days.