How to send and receive money with PayID

How to send money with PayID using the Commbank app

PayID is a service provided by the New Payments Platform which is available within your CommBank app. It makes sending and receiving money from your bank account that little bit easier
1. Open the CommBank app
2. Select 'Pay someone' from the 'Pay' tab at the bottom of the screen
  
  If the recipient’s PayID is a mobile number:
  Select 'PayID (mobile)' from the options and locate the person you want to pay from your phonebook or enter their mobile number and press next. If their mobile number has been registered as a PayID, the logo will display alongside their chosen PayID name. If this is the person you want to pay, tap 'OK'.
  
  If the recipient’s PayID is an email address, ABN/ACN or Organisation ID:
  Select 'PayID (mobile)' from the options and locate the PayID type you would like to pay to. Enter the details provided such as their email address and press next.
  
  If this has been registered as a PayID, the logo will display alongside their chosen PayID name. If this is the person you want to pay, tap 'OK'.
3. Enter the amount you want to pay and a description in the 280 character field.
4. Confirm your payment. The person that you’re transferring money to will be able to see the payment appear within the transaction history of the account linked to their PayID.
  
  If you've paid money to this account before, the payment will appear in less than a minute. First time payments to a new payee may be held up for up to 24 hours as a security measure.

When you make a payment to someone using their PayID there are some major differences compared to traditional payments between banks.
- You can send payments without having to ask for, or remember BSB and account details
- PayID will display a name before you send payment, so you can confirm you’re sending money to the right person
- Payments to participating banks will be received in near real time¹
  (if you’ve paid them from that account before)
- There’s more information available in the transaction description, with 280 characters available
- We’ll protect you from losses due to unauthorised transactions on personal and business accounts when you take the necessary steps to stay safe online.
We’ve been working with the other Australian banks to ensure that real time payments are just as secure as the payments you make today.

To receive payments using PayID you’ll need to register your mobile number or email address as a PayID using the CommBank app or NetBank
Once it’s set up, when someone owes you money simply ask them to pay you using your PayID, from Step 1. If they are with a participating bank, they can log on to their mobile or internet banking and make a PayID payment. Each bank does this differently but usually this will be integrated into the Pay Someone/Pay Anyone feature of their online banking app or website
Whenever someone pays you using your PayID, your name will appear. All they have to do is confirm it’s you. Their bank will securely transfer the money into your account, usually in less than a minute
You’ll see the payment in your account’s transaction history. When you send or receive a payment using PayID you may see the Osko^® logo in your payment confirmation or account transaction history. This indicates that the payment was sent using the New Payments Platform (NPP) infrastructure using Osko^®.

Do I need a PayID to send a PayID payment?

You don’t need a PayID to send a PayID payment. All you need is the CommBank app or Netbank and the PayID of the person you want to pay.
Will all of the payments I make be instant?

To make payments to a PayID, you will need the CommBank app or Netbank. The person you want to send the payment to must also have registered the PayID you use with a participating bank. A payment may be held for up to 24 hours the first time it is directed to a sender’s account. The delay is so fraud security checks can take place. It gives you time to alert us about any unauthorised or suspicious activity on your account. Subsequent payments should be received in under one minute
Can my account be accessed through my PayID?

A PayID can only be used to pay money into your account, never take money out. Your actual account details will not be visible during the payment process.
Are there any charges or fees to send a PayID payment?

There are currently no fees for payments using a PayID via the CommBank app or Netbank.

Show me more FAQs

You'll only be able to send or receive PayID payments if your friends and family are with a participating financial institution. Not all Australian financial institutions are using the New Payments Platform (NPP). For a list of participating banks, see the NPP website.

You can still make and receive payments with these friends and family using a BSB and account number, but the payment may not be transferred in real time.