PayID withdrawal online casino for Australian players
There are several benefits for Australian players to use PayID at online casinos. PayID has a specific withdrawal process for use with online casinos which negates the need for Australian players to remember all of their banking details.
Australian online casino players like using PayID as it is a preferred alternative to other payment methods that have a tedious process that they have to follow. With some payment methods, if a player gets one digit wrong, they could send payments to other accounts by accident. When they use PayID, they can avoid a lot of stressful situations.
When Australian players use PayID they are provided with an easy-to-remember identifier. You can use this same identifier to make both deposits and withdrawals at an online casino. It’s possible for you to use your email address or your phone number as the identifier which you are unlikely to forget.
With PayID Australian players have a safe and secure method for transactions with online casinos. PayID has been proven to have impeccable security standards which makes people feel at ease using this versatile payment method.
Instant PayID withdrawal casinos for Australian players
There are plenty of online casinos that accept PayID for deposits and withdrawals but we cannot say with any certainty that you should trust them all. Unfortunately, there are online casinos out there that are dishonest and just want to steal money from their players.
We have an experienced team of online casino experts who test online casinos that accept PayID. When they test a casino, they will subject it to many rigorous tests, and only those who are able to pass them all end up on the list below. Choose one of the following online casinos if you want to use PayID and be safe:
Long-established and reputable licensed casino launched in 2014
125% matched deposit bonus available
What is PayID in Australia?
PayID was launched in Australia in 2018 and is part of the country’s NPP (new payment platform) technology. The aim of the NPP is to improve the efficiency of payment systems by avoiding the need for conventional payment methods using banks that have a very tedious process associated with them.
Since its launch, PayID has been constantly developed. There are now 10 million users of PayID in Australia according to information from their headquarters in Sydney. Back in 2012, Australia established NPP after a strategic review of the payment systems in the country. The review recommended the introduction of a real time payment system to compete with existing methods.
The Reserve Bank of Australia and many other credible financial organizations support PayID which enhances its reputation. All PayID transactions are overseen by Australian financial institutions to ensure that they are true and secure.
PayID authorized organizations that were participating to enable their clients with PayTo agreements in 2021. By the end of that year, there were 8 million users with NPP which represented significant growth.
The company achieved an impressive milestone of 10 million users in March 2022. NPP introduced a new feature in June 2022 where users were able to authorize third-party payments.
The Impact of BPay and Osko brands
There are two important Australian brands that are connected with PayID. BPay is the first of these and this is a popular method for Australians to take control of their monthly bills. Some 60% of households in Australia use BPay and they can access it through websites and mobile apps.
Osko is owned by BPay and is the PayID payment provider. Now, online gamblers in Australia can fund their online casino accounts almost instantly as well as use PayID to fund online poker accounts. Many online casinos that accept Australian players just need their unique identifier for fast deposits and withdrawals.
How does PayID work with online casinos in Australia?
When a player has a PayID account, they connect their bank account to it and create a unique identifier which is usually their email address or phone number. Making transactions is a lot easier as there is no reason to share personal banking information.
PayID account holders can send money to others. When they want to send money to another person, they will see their name displayed clearly so there is no chance that the account holder will send funds to the wrong person.
It is possible to make large transactions with PayID and this is very easy to do as the account holder does not have to worry about getting account numbers and bank-state-branch (BSB) details correct.
Making deposits with online casinos that accept PayID is simple. All you need is the unique PayID number of the casino. You need to be aware that different banks and financial institutions will impose limits on the maximum amount that a PayID account holder can transfer to an online casino.
How does an Australian player open a PayID account?
The first requirement for opening a PayID account is that the player has a mobile phone account that is registered to them from either the Telstra or Optus network providers. You will also need to have a bank account with one of the participating banks in Australia which are:
- St. George Bank
- ANZ Bank
- Westpac Banking Corporation
- Commonwealth Bank of Australia
- The Rock
- ING Direct
- National Australia Bank
- ME Bank
- Macquarie Bank
You need to decide on a unique identifier which will be the name of your PayID account. This can either be your Australian Business Number (ABN) if you have one, your email address, or your mobile phone number.
Setting up a PayID account
It is only possible for Australian citizens to open a PayID account through their bank. This is easy to do and requires that you follow these steps:
You will need a bank account with a bank that supports PayID. If you don’t currently have this then you will need to open a new account with a participating bank. Once you have your bank account you need to:
Access your bank account online and log in. There should be a menu system where you can choose to “create a PayID” and you need to select this
Next, you will need to connect your PayID to your bank account. There should be instructions on how to do this when you are logged in to your bank account. You will need to decide how you want to receive notifications about your PayID and the choices are usually through your phone or via email.
Submit and verify. After deciding if you want phone notifications or emails, your bank will verify your details and send you a code to either your phone or email address. You need to authenticate your account using this code.
Once you have authenticated your account using the special code your bank will enable your account with PayID. This means that you can now use your PayID to make payment transactions.
Is it safe to use PayID transfers?
The short answer is “yes” it is safe to conduct financial transactions using PayID. All PayID transactions are made using the secure platform of the bank that supports PayID. This means that the highest level of security will be deployed to provide full protection for your transactions.
In addition to this, the person making the PayID payment will see the name PayID unique identifier of the person or organization that they are sending the funds to. Hackers will be unable to replicate this and the person making the payment will be confident in confirming the transaction.
While PayID transactions are very safe, it is always a good idea to be vigilant. If you see that the PayID name of the recipient is not what you were expecting then this could be some kind of scam. Contact the person or company that you are trying to pay to confirm the details with them.
Another layer of security for PayID transactions is provided by the banking platform’s automatic screening for fraudulent activity. Most of the participating banks in Australia have this security feature. This works in real time and will detect a transaction and prevent it from proceeding if there is any kind of suspicion.
Are PayID transfers instant?
According to the official PayID website, any transactions using PayID should occur in less than 60 seconds. The only possible delays would come from security checks that your bank perform on any transaction that you make. If you are experiencing delays with your PayID transactions then you need to speak to your bank to find out why.
The reason that PayID transactions are so quick is that they are processed in real time. It doesn’t matter if the two parties involved in the PayID transactions are with different banks. As long as both banks support PayID then there should not be any delays.
You need to be aware that there are some genuine reasons why a PayID transaction can be delayed:
- Using PayID for the first time
It is possible that your bank will delay a first-time PayID transaction for up to 24 hours. This is also possible if you are sending funds to a new PayID user. Once the transaction goes through successfully, you should not experience any further holdups.
- Using the wrong reference code
Sometimes, the bank may issue you with a reference code for a PayID transaction. If this code is not entered correctly the funds will be returned to your bank account. The same applies if no reference code is entered with the transaction.
- Security checks
From time to time, your bank may initiate security checks to ensure that everything is as it should be. This will cause delays with your PayID transactions.
- Exceeding deposit limits
Usually, there is a AUD $20,000 daily deposit limit imposed on PayID accounts. If your transaction exceeds this limit then the bank will hold the transaction so that they can check everything. It is possible to increase your daily limit by agreeing this with your bank first.
- Multiple transactions on the same day
Another possible reason for delays with PayID transactions is if a user makes multiple transactions on the same day. Again, the bank will probably perform a security check to ensure that everything is in order.
How to make a deposit at an online casino using PayID
It is a straightforward process to make a deposit with an online casino that accepts PayID transfers. Follow the steps below and your deposit should be fine:
- Login to your online casino account that accepts PayID deposits
- Head over to the “cashier” page on the official website
- Choose to make a deposit – sometimes you may have to look in the setting for your casino account to do this
- You should now be presented with a list of accepted payment options. Often, this is in the form of a drop-down list
- Choose PayID from the payment method options
- When prompted, enter your PayID unique identifier which will usually be your email address or mobile phone number. Check the information that you enter to ensure it is accurate
- Enter the amount that you want to deposit with the online casino. It is a good idea to have a budget in mind when gambling at online casinos and stick to this
- When prompted to do so confirm the deposit transaction
- Wait for confirmation of the deposit. It can take a few seconds or even minutes for the transaction to go through
- Check your casino account balance to ensure that your deposited funds have been added
- Play the casino games that you enjoy and place the bets that you want
How to make a withdrawal at an online casino using PayID
If you have won at the online casino that accepts PayID then you will want to experience the thrill of withdrawing your winnings. As with deposits, making withdrawal requests is a straightforward process. Just follow the steps below:
- Login to your PayID online casino account
- Navigate to the “cashier” section on the official casino website
- Choose the option to make a withdrawal request
- When you are presented with the list of payment methods that you can use for a withdrawal select PayID
- Enter in the amount of your withdrawal – you need to be aware of any minimum and maximum withdrawal limits that are imposed by the casino. If you don’t comply with these limits then your withdrawal request will be rejected
- When requested, enter your PayID unique identifier being either your mobile phone number or your email address. Check what you have entered to ensure that it is accurate
- You will need to confirm your withdrawal request. Now you have to wait for your withdrawal request to be approved and for the funds to be transferred using PayID
PayID casino withdrawal times
The first thing to say here is that the withdrawal times are going to vary from one PayID casino to another. It is usual for online casinos to manually check all withdrawal requests and this will take time. Some casinos will process withdrawals quickly and others will take longer. A lot of PayID casinos will have a pending time that can be as long as 3 days.
After the withdrawal is approved, the transaction time for the PayID transfer should be very fast. If the PayID casino that you are playing at claims to have fast withdrawal times then you can expect everything to happen within 1-2 hours of making your withdrawal request.
Pros and cons of using PayID
All payment methods have pros and cons. Let’s start with the pros of using PayID:
- Deposits with PayID are usually instant
- It is a fast withdrawal method
- Your personal banking details are never revealed
- It is easy for Australian players to set up PayID
- Most Australian banks support PayID
- There are no transaction fees
- Not every online casino will accept PayID
- There may be additional verification steps required for transactions
- Most casinos will impose PayID transaction limits
PayID alternative payment methods
There are several different payment methods that Australian players can use as an alternative to PayID. Here are some alternatives that you may want to consider:
The Paysafecard is available in Australia. It uses a voucher system where you purchase a voucher for a specific amount and you will be given a unique 16-digit code to use when you make a deposit. Withdrawals are also possible with Paysafecard now.
Skrill and Neteller
These are two of the most popular e-wallet systems that are widely accepted by numerous online casinos. They are safe and secure and transaction times are usually very fast.
Many online casinos are now accepting major cryptocurrencies such as Ethereum and Bitcoin for deposits and withdrawals. Cryptocurrencies all operate on a blockchain network which is like a decentralized ledger. It is very secure and transaction times are usually fast. You can buy cryptocurrencies at reputable exchanges like Coinbase.com.
If you don’t have a credit card then you can use the POLi payment method. POLi operates in a similar way to PayID.
At present, there are no fees for any PayID transactions which include deposits and withdrawals at online casinos. It is unlikely that this will change in the near future. We recommend that you monitor the situation to see if any fees are likely to be introduced in the future.
Final words about PayID
There are several advantages to having a PayID account if you are an Australian player and using this for your deposits and withdrawals at online casinos. Be careful what online casino you choose to play at as not all of them are honest and trustworthy.
We recommend that you choose one of our recommended PayID online casinos from the list at the top of this page. Our experienced team online casino experts have checked out all of these casinos to ensure that they are legit and trustworthy.
It is a safe and secure payment method with fast transactions and is supported by the majority of banks in Australia.
Yes, just login to your bank account that supports PayID and follow the instructions.
No, only some casinos that accept Australian players also accept PayID. Please refer to our recommended list above.
Yes, but we recommend that you check that the casino recognizes PayID as a withdrawal method as well as a deposit method.