Do I need a PayID?
PayID registration is optional. You can send payments to a PayID without having one yourself, and you can still use BSB and account number to receive payments if you'd like.
How many types of PayID are there?
There are four types of PayID:
- Mobile number
- Email address
- Business number
- Organisation ID
How do I register a PayID?
CommBank currently offers PayID registration for mobile number, email and business number.
Which CommBank accounts are eligible for PayID registration?
There are a number of CommBank accounts which can be linked to your PayID.
Can I send batch payments using Fast Payment?
You can only make single Fast Payments at the moment. This will be available in the future.
Will Fast Payments be sent in real-time?
Fast Payments are available 24/7, 365 days of the year and will typically be settled in under 60 seconds. Payments may be subject to checks and holds at the sending or receiving bank.
What goes in the Reference field?
This is your own unique way of identifying any Fast Payments you make that can help identify and reconcile payments, like an invoice number
How do I save PayID details in my address book?
For now, you’re not able to store PayIDs in the CommBiz address book.
What’s next for Fast Payments?
We’re focused on expanding the capability of Fast Payments in CommBiz e.g. to include batch and file payments. We’ll provide further updates as this work progresses.
Things you should know
1 Some BSB and/or account numbers of other financial institutions are not eligible to receive Fast Payments. In this instance, when processing a Fast Payment you will be advised to choose a different payment method.