Why register to use PayID for your business?

  • Optimise cash flow – receive payments in less than a minute1
  • Make it easy for your customers – no more scrambling for your BSB and account number to pay you
  • Simplifies account reconciliation – receive rich payment information with 280 characters of text
  • Mobile – available through the latest version of the CommBank app
  • Secure – backed by our 100% security guarantee2

Keep in mind you can only register your mobile number as a PayID to one account at a time. This means if you register your mobile number to your personal account, you won’t be able to use it as a PayID with any of the other accounts you have (like a business transaction account). You can always switch your PayID to another account in the CommBank app.

How it works

Use PayID to receive money

To receive payments you’ll need to register your mobile number as a PayID using the latest version of the CommBank app. It only takes a couple of minutes.

Friends, family and customers will then be able to pay you through their own bank’s mobile or internet banking using your PayID.

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Use PayID to send money

To send payments to someone else, they just need to provide you with their PayID.

This may be their mobile number however other PayID types may include email, ABN, ACN and landline phone number, depending on their bank. 

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Who can register?

To register a PayID for your business you will need to be the owner (proprietor) of the business, with the authority to operate an eligible business account. You’ll also need your Australian mobile phone number and the latest version of the CommBank app. 

How to register

Coming soon...

Soon you’ll be able to register your ABN/ACN as a PayID for your business account so you’ll be able to provide your customers with a PayID specific to your business, and multiple partners in the business will be able to use the same PayID.

PayID for business

FAQs

Why can’t I register a PayID for my business?

To register, you need to be the owner (proprietor) of a trading entity with the authority to operate a business account that is eligible for PayID. 

Can I use my mobile number as a PayID for both my personal and business account?

A single PayID, such as your mobile number, can only be registered to one account. An alternative PayID, such as an email address or ABN, can be registered to another account. We will introduce ABN/ACN as a PayID type at a later stage.   

Which CommBank accounts are eligible for PayID registration?

Accounts that can be linked to a PayID include: Society Cheque Account, Business Transaction Account, Accelerator Cash Account, CALIA+, Complete Access, Everyday Offset, Smart Access, Streamline Account, AwardSaver Account, Commonwealth Direct Investment Account, Private Bank Account, Cash Investment Account, Cash Management Call Account, Pensioner Security Account, Equity Unlock Loan for Seniors, Viridian Line of Credit.

Will all of the payments I make be instant?

To make payments to a PayID, you'll need the latest version of the CommBank app. 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 its directed to a sender’s account. This allows fraud security checks to take place. It also gives you time to alert us about any unauthorised or suspicious activity on your account. Subsequent payments should be received in under one minute.

What security measures have you taken to ensure near real-time payments are safe?

We’ve been working with the other Australian banks to ensure that payments are just as secure as the payments you make today.  In addition, CommBank customers benefit from a number of security features including:

  • NetCode SMS or in-app notifications for mobile number verification
  • payments made by CommBank customers using a PayID will be limited to a maximum $1,000
  • real-time fraud checks and first-time payment holds to new payees

Things you should know

For security reasons, a hold may apply on first time payments. 

2 We’ll cover any loss due to unauthorised transactions on your account, as long as you protect your cards, devices, client numbers, PINs, passwords and any other access methods, and immediately notify us of their loss, theft or misuse or any suspicious activity on your account.