PayID is an Australian payment method that has gained popularity among players for its reliability, security, and lack of fees. With PayID casinos, players can use their Australian bank account to gamble online without worrying about conversion fees.
Unlike credit cards, PayID guarantees safe and convenient transactions, making it a top choice for players Down Under.
To get started with PayID, check out our PayID casino guide, which includes information on how this banking option works and which online casinos accept it. Our team has ranked the best PayID casinos based on factors such as licenses, casino games, slots, bonuses, and more. Use our links to start playing today!
PayID Casinos Overview
PayID is a simple and straightforward way to make online payments and pay bills through your bank account. It is part of BPay Pty Ltd and is accepted by major financial institutions such as the Australian and New Zealand Banking Group, National Australia Bank, and more. With PayID, convenience and safety are guaranteed, and setting up a PayID account is easy as long as you have an Australian bank account.
How to Use PayID at Online Casinos
Using PayID at online casinos is easy and instant. To get started, sign up for a PayID account via your bank account as a biller. You will then receive a unique reference number that you can use to make online or in-person transactions.
To make a casino deposit via PayID, simply sign up for a casino account and provide your reference number, biller code, and the amount you want to transfer.
Making PayID casino withdrawals requires a similar process, and the funds will reach your account within 24 hours.
PayID: What to Know
Unlike some of the other payment methods, PayID is a distinctly Australian payment method that they first launched in 2018. They partner with over 97 regional banks in Australia and since they work in close coordination with traditional banks, you still enjoy the same security as those banks.
The ease of the platform and its lightning processing speed has propelled it straight to the top as one of the most popular ways to fund online casino accounts.
Before you can send a payment to fund your account, you will need to pass through a step for confirmation. That may sound like a hassle, but it protects you from online scams and ensures that your payment would go to the right account. Many other services don’t add this step, and it sometimes leads to trouble.
Because of its relative newness to the gambling industry, some online casinos don’t accept PayID. This especially rings true when you compare it to other payment methods. This payment method is also only available to Australia.
Do You Need to Pay Fees?
With the exception of a few rare occasions, PayID won’t charge you fees for the use of the service. The rare occasions would occur in relation to your banking provider. You may also run into fees from specific casinos for deposits and withdrawals, but this rarely happens now compared to before. Before you choose to use PayID with a casino provider, look at their terms to understand what fees you might pay.
You also should beware of the currency exchange. In general, because PayID only operates in Australia, you won’t experience problems, but the AUD is the best choice for currency with this payment method. If you choose to use the USD or the euro, you may need to pay conversion fees. Pay attention because in some cases, the exchange rate can turn costly. Check how much you will pay ahead of time before you leap into it.
Some banks will include daily transaction limits with PayID, and you can check them out below:
|
ANZ (Australia and New Zealand Banking Group |
$5,000 |
|
Bendigo Bank |
$30,000 |
|
Bank of Queensland |
$5,000 (you can request an increase) |
|
Suncorp |
$5,000 |
|
Commonwealth Bank of Australia |
$20,000 |
|
National Australian Bank |
$60,000 |
|
Citi Bank Australia |
$10,000 |
|
Suncorp |
$5,000 |
|
Westpac |
$750 (you can request an increase) |
Are PayID Casinos Safe?
You can trust that your financial information stays secured when you use a PayID casino. All the financial information will remain with PayID. This would include your phone number and email.
Along with that, they let you see the profile of who you will send your funds to before you send them. This extra feature ensures that you send your cash to the right person. You will confirm the transaction toward the end using your phone to ensure that all deposits and withdrawals remain under your strict control.
To further your trust in PayID, all payments come with total security guaranteed by your bank.
Pros and Cons of PayID
Before you agree to set up a PayID account and use it for funding your casino account, you may want to compare its pros and cons to see if it would make sense for you. Keep in mind, there is no best payment method, but you may find some a better choice than others due to the advantages. Likewise, the disadvantages could make it not worth it to you.
Pros
- Make deposits with a secure online banking method
- Eliminate the potential fees associated with other payment methods
- Your payments come with a guarantee from your bank
- Claim support from over 97 banks in Australia
- User-friendly and comfortable interface
- Using it on the mobile works as seamlessly as the desktop
Cons
- Only allowed to use payment in Australia
- In some cases, they may charge a fee to use it to due it being less popular
- Not totally anonymous
- Support isn’t the best
- May take up to 72 hours to make a withdrawal to your bank account
Summary
For Australian players, PayID is the best payment option available at online casinos. With its reliability, security, and lack of fees, it is no wonder why more and more players are gravitating toward PayID casinos. Our team has gathered the best PayID casinos for you to choose from, so pick one and start playing today!
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