Casinos Accepting PayID

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PayID is a payment solution that enables instant, secure, and easy payments for Australians, offering a hassle-free way to handle their purchases both online and offline. Conveniently enough, PayID has been adopted by some virtual casinos that welcome Australian players. The unique payment system of PayID allows online banking users to confirm payments using something as simple as their phone number or email address. Imagine verifying your online casino deposits this easily.

Unfortunately, PayID is currently available only in Australia, meaning you will not be able to use it if you are located elsewhere. Furthermore, there are not many online casinos catering to PayID users, making it hard to find a reliable brand where you can use PayID for your casino payments. If you want to learn more about the positive and negative sides of this service, we suggest you check the full review below.

Pros and Cons of PayID Casinos

• Pros
  • Allows easy online banking payments without requiring any registration
  • Can be used both as a deposit and withdrawal option at some online casinos
  • Users can link multiple PayIDs to different bank accounts
  • Deposits via PayID are processed instantly
• Cons
  • The service is supported only in Australia
  • Supports payments only in AUD
  • Not many online casinos support PayID

How Does the Method Work?

You might have already noticed that we refer to PayID as a payment service. It is a piece of valuable information, such as your phone number or email address, that you link to your online bank account. Whenever you need to receive money, you use the phone number or email address linked to your account. In other words, PayID is an identifier for your bank account, allowing you to send and receive payments made through the NPP or Osko instantly.

If you need to send money to someone who uses PayID, you have to know their PayID. If the PayID is correct and the transaction is successful, the money will appear in the recipient’s bank account within a minute. If you are sending money to a PayID user for the first time, the transaction might be held for up to 24 hours for security reasons. Meanwhile, fraud-prevention checks can take place, giving the payer time to inform the bank of any suspicious activity.

PayID is a trustworthy payment solution that significantly reduces the chance of sending money to the wrong person, as payers can see the name of the payee before confirming the transaction.

Different participating financial institutions may offer various types of PayID, including an email address, phone number, Australian Business Number (ABN), your company’s name, and more. You can link multiple PayIDs to your account, but you cannot link one PayID to multiple accounts.

PayID is available within the online banking systems of participating financial institutions. In other words, if you have an active online banking account at one of these institutions, you can register a PayID and use it for online payments. Being an Australian payment service, it only makes sense that PayID supports AUD transactions only.

It is important to explain that PayID does not replace BSB or account numbers. Think of PayID as a nickname for your bank account. PayID is developed to make your life easier. Hence, PayID customers can use the service even via their portable gadgets. Mobile users simply have to install the latest version of their financial institution’s mobile app.

PayID Registration Process

PayID is a widely chosen banking method, as it allows casino enthusiasts to send and receive money with confidence. In simple terms, PayID is an easy-to-remember address for payments that players can use in many cases, including when making casino deposits and withdrawals.

The processor is easily accessible because it is already available in players’ online banking and is supported by more than 100 banks and credit unions. Making payments through PayID is hassle-free, and once players enter the recipient’s PayID, they will instantly see the name of the person or business registered for the service. If players have entered all the information correctly, their funds will be delivered within a few minutes.

Registration is smooth and takes no time at all, as it is done within players’ online banking and linked to their preferred bank account. This means that gambling enthusiasts can have several PayIDs linked to different bank accounts.

1. The first thing players need to do when they want to start using PayID is head over to its official website.
2. Then, they need to scroll down the landing page to view the list of all banks that offer payments via PayID.
3. After selecting their bank from the list, players will be taken to its official website, where they will be allowed to create a PayID.
4. After clicking on the Create PayID button, gambling enthusiasts will be asked to use their credentials to log into their online banking.
5. Then, players should navigate to the Profile section and select PayID.
6. Next, players should manage their PayID by providing their phone number or email address. After registering, they will receive an email or SMS asking them to confirm ownership of the PayID. Keep in mind that each phone number or email address can be used to create only one PayID. Players will then be shown a quick summary of their new PayID.
7. Finally, players will be asked to choose the name that will be displayed when sending and receiving money. After this, gambling enthusiasts will be ready to share their PayID and make payments with confidence.

Video Introduction of PayID

Depositing to Online Casinos via PayID

If playing at an online casino is up your alley but you do not feel comfortable sharing your bank credentials with a third party, especially over the Internet, then PayID is what you need. Finding a web-based casino that accepts PayID might not be a walk in the park, but it is far from impossible. After finding a reputable casino that corresponds to your preferences, set up an account and fund it to start playing for real money.

To do so, log into your Internet banking account and click the Funds Transfer button. Then select Pay to a PayID and choose the PayID type. After that, enter the PayID of the web-based casino and click Verify. The bank will confirm the PayID of the owner and reveal the name of the account holder. Next, click Next, select the account you want to pay from, and enter the amount you wish to transfer. Write a description of no more than 280 characters, click Next again, and select the Pay Now button. You will receive a one-time SMS code that you have to enter to authorize the payment.

Withdrawing from Online Casinos via PayID

The process of withdrawing funds from a web-based casino is very similar to depositing. Log into your casino account, select PayID as the preferred payment solution, and type the sum you wish to cash out. Then, you will have to disclose your PayID to the casino operator. All web-based casinos take some time to process payment requests.

The pending period varies between gambling sites, but PayID casinos usually take up to 72 hours. Once the casino approves your payment request, the operator will send the sum to your PayID instantly. Casino fans should also consider the casino’s minimum and maximum withdrawal limits, which may vary between payment methods.

Fees and Limits

Linking your bank account to a PayID is free. PayID eliminates the need to fund a separate account, a step that usually incurs fees when using other services. For example, popular digital wallets act as intermediaries between bank accounts. As such, their users have to load them with money before being able to make online purchases.

No fees apply to PayID transactions to and from online casinos. If the casino levies charges on PayID payments, the operator will notify players in advance. Since the payment service is implemented in the online banking systems of different financial institutions, we cannot provide precise details about the fees a given bank might charge for using PayID. With that in mind, if you are not yet a client of any participating institution, we advise you to compare their fee structures first. You can choose from over 100 financial institutions.

Advantages

PayID is a payment service that comes with multiple advantages. One of them is that users do not have to share their bank credentials or remember account details. The mere fact that you are not required to provide sensitive information significantly reduces the risk of a third party accessing your funds. PayID is recognized as a safe payment solution implemented only by proven Australian financial institutions. As a PayID user, you are in charge of authorizing payments from your account to another person’s or business’s PayID.

As we already pointed out, PayID processes financial transactions at lightning speed. Casino fans who deposit funds to an online casino via PayID will be able to start playing right away. More importantly, withdrawals are also processed instantly upon casino approval. Hence, a growing number of casino devotees prefer to use PayID to cash out their winnings. PayID users do not have to comply with the working hours of banks as the payment service processes payments 24/7.

Last but not least, the upper limit on daily payments reaches up to $10,000 for personal account holders. Of course, this may vary between financial institutions, so be sure to double-check the information with your bank.

Disadvantages

But every coin has two sides. In other words, PayID has its downsides, which one should consider before selecting it as a preferred payment solution. The first disadvantage associated with PayID is that it is an Australian-only payment solution. This means that only individuals residing in Australia can use it. What is more, PayID is not available for international financial transactions. Hence, the only supported currency is AUD.

Casino fans should know that the number of web-based casinos that employ PayID is modest. In addition, the official website of the payment service does not offer many quick communication channels. There is an informative FAQ page, but the only way to learn more about PayID is by contacting your bank or by getting in touch with the NPP customer support department via email at info@nppa.com.au.

You also cannot withdraw funds directly from your PayID account. You must first transfer the funds to your bank account before being able to cash them out from an ATM. All in all, if you can live with the few weaknesses of the payment service, then PayID is an excellent payment solution.

Security

When opting for a new payment service, it is of paramount importance to make sure that it is safe. As far as PayID is concerned, the payment service employs two-factor authentication. Every time you send a payment, you will receive an SMS with a code to confirm the transaction. Implemented by different financial institutions, PayID is also subject to the specific safety measures employed by each bank.

Most Australian financial institutions use various tools to protect their users’ information from misuse. All PayID transactions are subject to real-time fraud screening and detection. In addition, PayID is a safe payment service, keeping your bank details private.

We understand that some people might be hesitant about using PayID due to its newness, but we are happy to assure them that there is nothing wrong with this payment solution. To prevent fraud, PayID customers have to prove that they are the rightful owners of the information they intend to link to their bank accounts.