PayID Casinos

Many casino fans are reluctant to disclose their banking details. In 2018, PayID was presented to Australians as part of the New Payments Platform (NPP). The new service completely overhauled the online banking landscape throughout the country. The idea behind it is to provide Aussies with an easy-to-use payment solution that will save them the effort to memorize and disclose their bank details.

PayID is a revolutionary payment service that allows its users to use details that they can easily remember to reach their bank accounts. In fact, PayID is an identifier to your bank account. The money transfer service is offered by Osko and it is available to customers who have bank accounts at participating financial institutions. To process payments via PayID, you can use your phone number, email address, or ABN (Australian Business Number).

PayID Summary
Available in Australia
Connecting bank account to PayID Free
Withdrawal balance from PayID to your bank account Free
Pay to online merchants Free
Available for deposit Yes
Available for withdrawal Yes
Usual deposit time in online casino Instant
Usual withdrawal time from online casino Instant
Live chat Depends on the bank
Telephone support Bank-dependent
E-mail support Depends on the individual financial institution

PayID users can make online payments promptly and easily. Interestingly enough, the main idea behind this platform is to allow people to send money to other people without the need to remember any bank details. Furthermore, PayID is the initiative of 13 of the most reputable banks in Australia and the Reserve Bank of Australia, meaning that it is safe to use it. Before we continue, we would like to mention that over 100 banks offer the NPP and PayID to their clients.

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Using PayID for Gambling Transactions

Using PayID for Gambling TransactionsA growing number of online casinos geared toward the Australian market have started to embrace PayID. One of the reasons for this trend is that the payment service supports both deposits and withdrawals. Casino enthusiasts who are interested in using this method to make casino payments should first create their unique PayID.

To do so, you have to own a bank account at a financial institution that offers this service. To make use of PayID, you have to log into your online banking account, click on the Payment Settings button, select “PayID”, and follow the instructions. After that, you will receive a code to verify your mobile number or email address.

If you use the CommBank app, you have to log into your account, click on the “Profile” button, and select “Manage PayID”. Then, you will be required to select the type of PayID you would like to use and select an account that will be linked to your PayID. Currently, there are 4 types of PayID, including phone number, email address, AND, and organizational ID.

The last step is to confirm your details by entering the code you will receive. Provided that you successfully managed to activate the PayID service, you will receive an email. From that point, your PayID is connected to your bank account. It is important to inform our readers that a single bank account may have multiple PayIDs. However, PayID users can link only a single bank account to PayID.

PayID Gambling Transactions
Supported transactions Deposits and withdrawals
Deposit pending time Instant
Withdrawal pending time Varies between casinos
Additional security PayID users have to first log into their online bank accounts

Advantages and Disadvantages of PayID

Advantages and Disadvantages of PayIDSome casino fans are uncomfortable with sharing their bank details and personal financial information. That is the reason why many Australian casino aficionados have started using PayID as it comes with many advantages over the traditional payment methods.

As we already explained above, PayID works as an identifier to your bank account. Hence, you do not have to remember and disclose your BSB or account numbers. In other words, PayID users can conveniently send and receive money. The fact that you do not need to share your bank details significantly increases the degree of safety and maintains your online anonymity.

Furthermore, the PayID platform is on par with all security standards that are employed by the participating banks. This means that payments to and from online casinos are processed safely. As far as legitimacy goes, many well-established Australian banks adopted PayID. In addition to that, the platform was launched by Osko as part of its New Payments Platform (NPP). Osko is a payment service from the payments platform BPAY that uses your bank’s security standards.

PayID Pros PayID Cons
Deposits and withdrawals are processed safely and promptly Only Australian residents can make use of PayID
No need to disclose bank details PayID cannot be used for withdrawing money from an account
Using PayID is absolutely free

Fees for Gambling Transactions with PayID

Fees for Gambling Transactions with PayIDAt the moment of writing this article, there are no fees associated with the use of PayID. This means that casino enthusiasts will not be charged an arm and a leg for making deposits at online casinos and withdrawing funds. However, the payment platform is linked to the user’s bank account. This means that the bank might impose some fees for money transactions to and from your PayID account, but we cannot provide in-depth details as these vary greatly between the different banks.

If you use PayID services via your CommBank account, you should know that the fee for maintaining your account is $4 per month. However, if you make deposits totaling $2,000 monthly, you will not be required to pay a maintenance fee. Another important thing to mention is that the CommBank app applies a limit of up to $2,000 on the maximum amount you are allowed to withdraw on a daily basis. Provided that you withdraw at non-CommBank ATMs, you should be informed that a fee might apply.

PayID Fees
Gambling deposit fee Free
Gambling withdrawal fee Free
Bank account deposit fee Free
Bank account withdrawal fee Free
Credit/debit card deposit fee N/A
Credit/debit card withdrawal fee N/A
Maintenance fee Free

Processing Times with PayID

Processing Times with PayIDAll financial transactions via PayID are processed in “near real-time”. You can send and receive money within a minute. Provided that you are a casino fan who wishes to make a deposit at an online casino, you should know that the money will appear in your gaming account instantly.

Every seasoned casino fan knows that the processing time for withdrawing money varies between casinos and payment methods. While deposits are processed at the moment, withdrawals require more patience. Once you have accumulated sufficient winnings, you can request a withdrawal by visiting the cashier page of the casino. Do not forget that most online casinos have minimum and maximum limits on withdrawals.

The web-based casino will take some time to process your withdrawal request. This period of time is also known as a pending period and it varies between casinos. Usually, PayID casinos process withdrawal requests within 3 business days. After that, you should know that you should receive your winnings instantly.

PayID Processing times
Gambling deposit time Instant
Gambling withdrawal time Instant after the payment is approved by the casino
Bank account deposit time Instant
Bank account withdrawal time Instant
Credit/debit card deposit time N/A
Credit/debit card withdrawal time N/A

Mobile Payments via PayID

Mobile Payments via PayIDPayID service is available to CommBank app users. Currently, over 5 million Australians use the app. Provided that your portable device runs on Android 4.4 or later, you can download the app from Google Play. The size of the app is 49 MB. If you own an iOS device, visit the Apple Store to find the CommBank app. It is important to mention that the app requires a 12.0 or later version.

Both apps are available only in English and you can download them for free. Installing them is a painless process that takes just a few minutes. Users can withdraw up to $500 from a CommBank ATM using Cardless Cash. To better control your finances, the apps come with some useful features such as Goal Tracker and Spend Tracker. If you tend to forget the payment due date of your bills, you have the option to receive bill reminders and notifications.

Android users can benefit also from yet another feature called Tap & Pay. It allows CommBank app users to pay on the go without using cash or bank cards. For purchases under $100, no PIN is required. The CommBank app also allows users to make use of Google Pay and Apple Pay.

PayID Mobile Payments
Apple pay Yes
Google pay Yes

Security at PayID Online Casinos

Security at PayID Online CasinosWith PayID casinos, you can make deposits and withdraw your winnings simply by entering your email or phone number. Hence, your financial information remains private. What is more, PayID payments are subject to the bank’s fraud screening procedures. PayID users should rest assured that the money they send will reach the right person as they will see the name of the recipient before confirming the payment. CommBank gives a 100% security guarantee to its users.

It is important to explain that you will be able to register a PayID by logging into your online banking. Provided that you use PayID via the CommBank app, you should know that you can enable two-factor authentication (2FA) to add an extra layer of protection. NetBank users are provided with the opportunity to register for NetCode, which is a time-sensitive password.

PayID warns its users that any emails asking them to disclose any personal or banking information that looks like it is from the payment platform are actually phishing emails. All financial transactions processed via Google Pay or Apple Pay are absolutely safe as the contactless payment systems utilize encryption systems.

PayID Security
Passcode No
Fingerprint No
FaceID No
Two-factor authentication Yes
Trusted devices No
IP Restrictions No

PayID Casinos FAQ

If you still have questions about this payment service, check the lines below where we will discuss some of the most frequently asked questions. Assuming that you still need to talk to someone, be advised to contact a financial institution that offers this service.

Can I have more than one PayID linked to the same account number?

Why should I use PayID?

Can I use PayID for international payments?

Is it possible to use PayID to pull out money from an account?

Can I close my PayID?