Best PayID Online Casinos in Australia 2022
PayID is a direct bank transfer service that Australian players can use for fast and safe transactions. The best PayID casinos in Australia allow you to make near-instant deposits from your bank account with very little information needed, like an email. With this service, you can forget about handing out your account or BSB number to an online gambling establishment. If you’re interested in learning more about this service in online casinos, you’re in the right place. Here, we provide a detailed review of PayID, how to set up an account, and how to use this payment service.
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General Information about PayID
PayID was launched on 13 February 2013 as part of the New Payments Platform. NPP is the brainchild of the Reserve Bank of Australia, developed to be an excellent payment infrastructure. This was after the RBA’s conclusion in 2012 that real-time payments may be possible using Australia’s payment system.
By 2020, over 60 banks have adopted the system, and in 2022, NPP reported over 10 million registrations in Australia. Some of the best AU online casinos have also made it one of the banking methods for deposits and withdrawals.
How Does PayID Work?
When making a bank transfer to any entity, a sender must enter a BSB number and other information including the cardholder’s name, bank account etc. A BSB number is simply a 6-digit code that facilitates the transaction. The main idea behind PayID is to remove the need to disclose a BSB, an account number and other personal bank details.
The PayID doesn’t replace your BSB code or account number; it only serves as an alternative. When withdrawing from online casinos that accept PayID, the gambling site will only require you to provide your unique PayID identifier. The same applies when funding your account on a gambling site; you only need the casino’s ID for a successful transaction. Your ID could be an email address or phone number instead of your name and address of residence.
Setting up a PayID account
Before picking this option in casinos that use PayID, you need to set up an account in this payment system. The process is quite straightforward, and you can complete everything on your desktop or a suitable mobile device.
Step 1: Set up an account with your bank
You need to have a bank account before you can use PayID. Players who don’t have an account can open one online or visit any nearby branch. Actually, almost everyone in Australia has a bank account of some sort.
Step 2: Log into your internet banking app
Most financial institutions have apps that facilitate online transactions. You can download an appropriate app from Google Play or the Apple Store. After installing, enter your details to access your account. Alternatively, you can do the same procedures on the desktop.
Step 3: Select PayID as a mode of payment
Select PayID as an option from Payment Settings in your bank app and follow the onscreen prompts. Enter the email or mobile number you wish to use as your ID.
Step 4: Submit your details for confirmation
When you submit the information, the bank will validate your email address or mobile number by sending you a one-time code to confirm these details. After entering the code in the confirmation screen, a message will appear indicating that your PayID registration was successful. The bank will add the PayID function to the account you selected to use. Afterwards, your PayID will be activated, and you may use it to make and receive payments with online casinos or other merchants.
Depositing to PayID casinos in Australia
Using PayID to deposit to an online gambling establishment is fast and easy. If a casino accepts PayID, you’ll see this option after logging into your account and going to the banking section. Here is a step-by-step process of using this option to fund your account in an Australian online casino:
- Enter the casino using your desktop or a compatible mobile device
- Log in with your username and password, or create an account if you don’t have one
- Open the cashier or visit the Payments page and select the deposit option
- Select PayID
- Log into your bank application
- Select PayID from the available options
- Enter the casino’s PayID and the amount you intend to fund your account with; ensure it’s not less than the minimum deposit amount
- Confirm the transaction
- Claim your welcome bonus, if desired, and begin playing
Making PayID withdrawal from AU online casinos
You can also cash out your winnings from an online casino, using this payment option. Just follow these easy steps:
- Enter your account and head to the cashier
- Select the withdrawal option
- Choose PayID as your preferred banking method
- Enter the amount you intend to withdraw
- Provide your PayID to the casino and submit your request
PayID works both ways, supporting deposits and withdrawals. However, some online casinos might only allow players to deposit with this option but not cash out. Therefore, you should visit the cashier to learn more about the available payment options for Australian punters.
Fees and transaction limits
Transactions you perform using this PayID are free of charge. However, some online casinos might impose service fees, notifying players in advance.
The amount you can deposit and withdraw at once depends on the gambling site and your servicing bank. You can learn about these limits by visiting the casino’s cashier.
PayID pros and cons
Like all banking methods, PayID has advantages and disadvantages.
- Players can transfer and receive funds without revealing their bank details
- Transactions are fast, allowing you to make fast deposits and withdrawals
- You don’t have to pay any fees when using this option
- Players can link PayID to their bank account in a few easy steps
- Major Australian banks support this service
- The service is safe thanks to its sophisticated encryption technology
- PayID is a relatively new service that still needs to earn the trust of Australian players
- It’s not as widely used by online casinos as other payment methods
PayID mobile app
PayID itself doesn’t have a mobile app. Instead, it is integrated into other bank apps to make transactions easier. If your bank supports PayID, you’ll find the option in the payment settings of the application.
Although you use this service with your bank, you won’t need to use the account number for transactions. Providing your PayID, which could be a mobile number or email, is enough information for any money transfer. However, you must link PayID with your account. Besides, you can only use the service after your bank has confirmed your details.
How to select the best PayID casinos in Australia
Many factors come into play when selecting the best PayID casinos in Australia. You must ensure these sites are safe, legal, and have exciting offerings to keep you entertained. Here are a few things to keep in mind before signing up to play for real money:
- Banking methods: Many AU online casinos are on the internet, each with various payment options, including credit cards and crypto. However, not all of these platforms support PayID. Visit the Banking page of the platform to find out if AU players can use PayID for deposits, withdrawals, or both.
- Game variety: Every online casino should have a decent game catalogue. There should be an assortment of pokies, table games, specialty games, and live dealers for players who prefer real-time gaming.
- Bonuses: You should be able to claim lucrative deals even when using PayID to fund your gambling account. The best sites should have a welcome bonus and other promotions for AU players. Read reviews to learn more about the bonuses the online casinos offer before signing up.
- User-friendly design: A complicated website layout makes it difficult for players to find their way around the casino. Top PayID casinos have fast loading times and are easy to use on desktop and mobile devices.
PayID is a payment service developed to help people perform speedy financial transactions in Australia. Players no longer need to provide a bank account number when gambling in the best PayID casinos in Australia. You only need to register a phone number or email as an ID with this service. Though new to the scene, online casinos are starting to offer this as a payment option for deposits and withdrawals. The fees and limits for transactions vary for every site. Though PayID turns out not to be very popular among Australian players, it is still a good payment service for depositing and cashing out your wins.