PayID Casinos Australia

Aiden McMorran
July 10, 2023
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online casino dealer is highlighting the benefits of payid casino payments

PayID Casinos in Australia offer a unique banking method that makes transacting easier, removing worries about safety from the equation.

While globally popular payment methods can be a safe and reliable option for casino transactions, nothing beats the comfort of using local banking solutions. Like other online payments, those made on casino sites should be smooth and hassle-free so you can move your money quickly without additional costs.

If you are looking for a local payment method you can use at Australian online casinos, we have some good news for you. In this guide, we will cover PayID, one of the most convenient banking options for online payments down under. Stay with us to learn more about PayID, including how it works and how to use it for casino deposits and withdrawals.

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What is/are PayID Casinos?

Introduced by the New Payments Platform (NPP) in 2018, PayID is a service that enables you to make online transactions without revealing your sensitive banking details.

In Australia, one must share a BSB code to make an online bank transfer. It is a six-digit number used for local transfers, similar to a SWIFT code used for international transactions. Both are used to identify the receiver of the money.

What sets PayID apart is that it lets you use personal identifiers instead of a BSB, your banking account number and other sensitive data. Also, transactions made with PayID are processed much faster than those via standard bank transfers. 

How Does PayID Work?

In its essence, PayID represents a piece of information you can link to your banking account. So, you can choose something you can remember easily, such as your phone number or email address.

Obviously, you need a banking account to make transactions with PayID since it works as a direct bank transfer. When you want to send money, that is, make an online casino deposit, you should provide the operator’s PayID. For withdrawals, you enter your PayID, and the funds are transferred to your banking account. 

PayID is a payment service in Australia that allows users to link their bank account to a unique identifier, such as a mobile phone number, email address, or ABN/ACN (Australian Business Number/Australian Company Number). Here’s a general overview of how PayID works:

  1. Registration: To use PayID, you need to register with your bank or financial institution that supports the PayID service. During the registration process, you will link your bank account to a specific identifier of your choice, such as your mobile phone number or email address.
  2. Verification: Once you’ve provided the necessary information and chosen your PayID identifier, the bank or financial institution will verify your details to ensure the ownership and accuracy of the linked bank account.
  3. Payment Setup: When making a payment to someone who has a PayID, you can select the PayID option instead of entering their bank account details. You’ll enter their unique PayID identifier, such as their registered mobile phone number or email address, instead.
  4. Confirmation: After entering the recipient’s PayID, the system will typically display the linked account name or allow you to verify the recipient’s details before confirming the payment.
  5. Funds Transfer: Once you confirm the payment, the funds are securely transferred from your bank account to the recipient’s bank account linked to their PayID.
  6. Instant Payments: PayID transactions are typically processed in real-time, enabling instant transfers between linked accounts. This makes PayID convenient for quick and efficient payments.

It’s important to note that specific processes and features may vary depending on the bank or financial institution providing the PayID service. Additionally, PayID is primarily available within the Australian banking system, and its usage and availability may not extend to other countries.

Create Your PayID: Step-by-Step Guide

To create your PayID, you need an account with a bank that supports this service. So, once you have obtained a banking account, you can set your PayID using your mobile phone number or email address. 

While the procedure may vary based on the interface your bank uses, the required steps mainly include the following:

  1. Log into your online banking account and go to Settings;
  2. Select PayID;
  3. Follow the instructions and provide the necessary details (phone number or email address);
  4. Confirm your PayID details and verify them by entering the one-time code the bank has sent you;
  5. After the bank sends you a confirmation email, PayID will be added to your account.

Keep in mind that you can link PayID to a single bank account. However, if you have accounts with more banks, you can create PayID for each as long as the bank allows you to.

How to Make Transactions

Now that you are familiar with PayID basics let’s see how it works in an online casino environment. Below, you can learn all about casino deposits and withdrawals with PayID.

PayID Casino Deposits

Making payments with PayID is as simple as it gets. Finding a reputable casino site that accepts this banking option is the most challenging thing. However, you should not worry about it since we have compiled the best Payid casino sites. So, pick one of them, and you are good to go.

Once you make up your mind about the PayID casino sites you want to join, sign up with it. It will take you a few minutes to complete the procedure. As soon as you verify your email, log in, go to the banking section, and pick PayID as a preferred payment option.

Sometimes, it will not be visible as a standalone banking method, so you must choose bank transfer instead. Enter the amount you want to deposit and log into your online banking account externally. Then, select PayID as a means of payment. Enter the casino’s PayID account and confirm the transaction. The money should be in your casino account within minutes.  

PayID Casino Withdrawals

To clear winnings, you need to enter the personal identifier you have used when setting your PayID. Again, you request a withdrawal by entering your e-banking account and providing the required details.

Some Australian sites support PayID for deposits only, though. In this case, you must find an alternative way to cash your winnings. So, if you want to use the PayID account only to conduct casino transactions, check whether PayID works both ways.   

Things to Keep in Mind When Using PayID for Online Casino Transactions

While using PayID for online payments is a no-brainer, there are still a few things you should factor in when deciding whether it is the perfect fit.

PayID Casino – Transaction Fees

You do not want to experience additional expenses when transacting at online casinos. So, choosing banking options with no fees is the way to go. The good news is that PayID gambling sites do not charge fees for deposits or withdrawals made with this method.

However, you should always check the terms and conditions of the bank you have an account with. In some instances, PayID-friendly banks may impose fees. So, make sure to learn if they apply to casino deposits or withdrawals via PayID.   

PayID Casino – Transaction Limits

Another thing you should be familiar with is how much you can deposit and withdraw through PayID. Limits may vary from one casino to the other, but banks also determine the amounts you can send and receive.

At the best PayID casino sites, deposits typically start at $10 or $15. While deposits are mainly not limited by casinos, banks may prevent you from making payments higher than $10,000 with PayID. As for withdrawals, amounts can go up to thousands of Australian dollars per month.

Therefore, explore the banking page of the website to learn all about transaction limits. Also, don’t forget to get informed about the policy of the financial institution you have a banking account with. It is the only way to know whether both parties’ limits suit your playing style.

PayID Casino – Transaction Times

Finally, the time needed for a transaction to complete can make or break your online casino experience. With PayID, payments are processed smoothly, and funds arrive in your Payid casino online account within seconds.

While deposits are instantaneous, withdrawals may take longer due to several factors. First and foremost, withdrawal times depend on the casino’s policy. In some cases, casinos need up to 72 hours to verify a player’s identity and approve transactions. Others carry out the verification procedure only on the first withdrawal, letting you cash out your winnings seamlessly later.

Besides the time needed for the casino to approve your withdrawal request, you should also calculate the time banks need to run security checks. Generally, you can expect to receive your funds through PayID within 1 to 3 banking days.     

Why Use PayID at Online Casinos

If you are still unsure whether to use PayID for your payments on casino sites, we have made a pro and con list that may help.

PayID Payment Method Pros

  • You need only an e-banking account to use PayID and make payments
  • No fees applied by online casinos
  • Deposits are instant
  • Your sensitive details remain secret and cannot be compromised

PayID Payment Method Cons

  • Not many online casinos accept PayID
  • Withdrawals may take up to 3 days to process
  • Banks may charge transaction fees

My Personal Conclusion On PayID Casino Payments

Online casino players from Australia looking for a safe and convenient banking option should check out PayID. It is a unique banking method that makes transacting easier, removing worries about safety from the equation. Most often than not, transactions made with PayID are fast and do not involve extra costs, meaning more time and money to enjoy your favourite form of entertainment.

FAQ

Here are 5 frequently asked questions (FAQ) about PayID payments in Australian PayID online casinos:

  • What do I need to use PayID at online casinos?

    To use PayID for online casino transactions, you only need an online banking account with a bank that supports this payment service.

  • Can I use PayID to make payments at Australian online casinos?

    The availability of PayID as a payment method in Australian online casinos can vary. Some online casinos may accept PayID as a payment option, allowing you to conveniently transfer funds from your bank account.

  • How does PayID work for online casino payments?

    PayID is a payment service in Australia that allows you to link your bank account with a unique identifier, such as your mobile phone number or email address. To make a payment at an online casino, you would need to select PayID as the payment method and enter your registered PayID details.

  • Is it safe to use PayID for online casino transactions in Australia?

    PayID transactions generally have built-in security measures, but it’s essential to choose reputable and licensed online casinos to ensure the safety of your personal and financial information. Look for online casinos that employ secure encryption technology and have a strong reputation for handling transactions securely.

  • Where can I find trusted PayID online casinos?

    Our team has tested PayID casinos and made a selection of trustworthy ones, so you need look no further. Simply pick one from our PayID online casino list and enjoy a safe and fair gaming experience wherever you are.

  • Are there any transaction limits associated with PayID payments in online casinos?

    Transaction limits can vary depending on the specific online casino and your bank’s policies. It’s advisable to check with your bank and the online casino for any limits that may apply to PayID payments.

  • Can I withdraw my winnings to my PayID from an Australian online casino?

    The availability of PayID as a withdrawal method can vary among online casinos. Some casinos may allow withdrawals to PayID, while others may require alternative methods such as bank transfers or e-wallets. It’s important to review the withdrawal options provided by the online casino before making a deposit.

  • Do casino deposits and withdrawals via PayID incur fees?

    PayID casinos don’t charge fees on transactions made with this method, but some banks may charge you when using it for online payments.

Author Aiden McMorran

Aiden McMorran is a renowned expert in the online casino industry, hailing from Australia. With a profound understanding of the intricacies of online gambling, Aiden has established themselves as a leading authority in the field. Having spent several years immersing themselves in the dynamic world of online casinos, Aiden McMorran possesses a comprehensive knowledge of various aspects, including game mechanics, regulations, and player psychology.