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PayID

Faster simpler smarter payments are coming

PayID



Coming soon to WAW, you’ll no longer need to use a BSB and bank account number to get paid or to transfer money to someone - even if they bank with someone else. You can use a PayID.

PayID is part of the New Payments Platform (NPP) and it’s coming to WAW customers in early 2018.

With a PayID sending or receiving money is made simpler. You can securely register your mobile number or email address which will be linked to your account. Then when someone needs to pay you, you simply give them your PayID instead of your BSB and account number.

 

In early 2018, WAW will invite customers to register for a PayID via Netlink (online banking) or Mobile Netlink (mobile banking), which we will then link to your WAW account. Once registered, when someone wants to pay you, or you want to pay someone else, forget exchanging BSB and account numbers – you’ll just share your pay ID instead.

When registering a PayID, you should only provide the information required within your usual online and mobile banking. As always, it’s important to be wary of requests asking you for personal information. WAW will never ask you to share these details via links in emails or text messages.

Pay ID Top Five:
 1. Fast: Rather than waiting days for payments to ‘clear’, most PayID payments between banks will be immediate. Even on weekends. Goodbye waiting. Hello convenience!

2. Simple: With a PayID you will be able to pay and get paid with something simple like a registered mobile, email or ABN. It’s easier to remember your PayID rather than a BSB and account number. Of course, you can still use a BSB and account number if you prefer.

3. Safe: WAW is working closely with other financial institutions to make sure the highest security and fraud prevention measures are in place. All payments will be subject to WAW’s real-time fraud screening and detection capabilities. As always, customers should remain alert to the possibility of cons and scams particularly if they receive unexpected requests via social media, emails or SMS for urgent payments.

4. Smart: You'll be able to include up to 280 characters including emoji's in your payments description. Each time you pay, you'll see your description almost immediately in your online transaction and the person you're paying will see the message just as quick.

5. Register:  As a WAW customer, we’ll be in touch with all the info you need to register for a PayID. Once the service launches you’ll have your PayID ready so you can start using it straight away.

If you require any further information about PayID, Osko or the New Payments Platform (NPP) we would be pleased to help. You can contact your nearest Customer Service Centre or call our Directlink customer service team on 1300 368 555.

Consider terms and conditions from WAW Credit Union before using Osko and PayID.