BankVic PayID allows users to send and receive payments using an identifier such as a mobile number or email address instead of BSB and account numbers. Integrated with the New Payments Platform (NPP) and Osko, PayID enables BankVic members to process real-time, 24/7 transactions to and from participating Australian financial institutions securely.
By registering for PayID through the BankVic digital banking ecosystem, you significantly reduce the risk of mistaken payments. Before a transfer is confirmed, the sender will always see your registered PayID name displayed on their screen, ensuring funds are directed to the correct recipient instantly, without standard overnight clearing delays.
| Category | Details |
|---|---|
| Eligible Identifiers | Australian mobile number or email address |
| Transfer Speed | Near-instant (often within minutes) via the Osko network |
| Availability | 24/7, including weekends and public holidays |
Step-by-Step Guide to Registering PayID
- Log in to the official BankVic mobile app using your secure PIN, Face ID, or pattern.
- Navigate to the Settings or profile section (depending on the app version).
- Select the PayID option and choose Create PayID.
- Select the identifier you wish to use (such as your registered mobile phone number or email address).
- Choose the specific BankVic transaction account you want this PayID linked to for receiving funds.
- Authenticate the registration by entering the 6-digit One Time Password (OTP) sent via SMS, then click Confirm.
Efficiency Hack for Managing Transfers
Pro-Tip: You can register different PayIDs across different accounts (if supported by your bank), which may help separate incoming payments by account type. Link your mobile number to your primary everyday account for splitting dinner bills with friends, and link your email address directly to your savings account for selling items online. This keeps your incoming funds automatically sorted without the need for manual transfers.
Troubleshooting PayID Setup Issues
- MFA Delays: If your registration SMS code is delayed, ensure your device has a stable cellular connection and your carrier is not blocking shortcode messages. Wait at least 60 seconds before requesting a new code to avoid system lockouts.
- Browser Errors: If you are registering via Internet Banking on a desktop and the confirmation page freezes, your secure session may have timed out. Clear your browser cookies, close the active tab, open a private browsing (incognito) window, and restart the setup process.
- Locked ID: If your PayID registration fails and your digital profile locks due to multiple incorrect OTP entries, self-service recovery will be disabled for security. You must call the BankVic Contact Centre directly on 13 63 73 during standard business hours to verify your identity and unblock the profile.
Frequently Asked Questions
Can I use the same PayID at two different banks?
No. A single PayID (such as your mobile number) can only be linked to one specific bank account at a time. If you want to use that number at BankVic, you must first log into your other bank's digital portal to deregister or release the PayID, then register it within the BankVic app.
Is there a fee to register or use PayID with BankVic?
No, BankVic does not charge any setup fees or transaction fees for domestic transfers made using PayID and the Osko network.
Is PayID safe to use?
Yes. PayID uses Australian banking security standards and includes name confirmation before payment, which helps reduce mistaken payments. It actually enhances security because the payer will see your registered name before they hit Pay, significantly reducing the chance of funds being sent to the wrong account.
