on 21-05-2018 02:37 PM
Great question @SirCookie.
Whilst you can certainly register & use Pay ID to receive payments via your mobile number, this is the first stage of the release. In the coming months, Bankwest customers with an eligible account will also be able to send faster payments via the new payment infrastructure. We'll notify you once this is finalised.
When you need to send a payment, or someone needs to make a payment to you, you can share your respective PayIDs instead of BSBs and account numbers. If you’ve ever worried about sending money to the wrong account, PayID will help with this too. When you pay to a PayID, the name of the person who owns that PayID is shown before you approve the payment. All you have to do is to confirm it’s the right person Because PayID uses the NPP, money will also be transferred almost immediately.
Hope this helps!
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