PayID

Register PayID For Businesses

If you are a business customer with Broken Hill Bank, you can register your Australian Business Number (ABN) as a PayID address. This allows customers, clients, and suppliers to make payments to your business using publicly available information.

To register your ABN as a PayID with Broken Hill Bank, follow these steps:

1. You’ll need a business account with Broken Hill Bank to link an ABN as your PayID.

2. To register your ABN  for PayID, contact our customer service team to ensure compliance with our verification requirements.

3. Provide our team with your business details and confirm the account you want the PayID linked to.

4. We may require verification documents confirming your identity.

5. Once your details are verified, the PayID is created. You will receive a notification that your PayID is ready to use.

Why use PayID?

PayID introduces a new and simple way to send and receive money directly to your bank account safely and securely. Here are some benefits of PayID:

1. Convenience: PayID removes the need for BSB and account numbers, reducing the likelihood of entering incorrect bank details.

2. Speed: Receive payments almost instantly via Osko.

3. Security: Reduce the risk of errors and fraud by minimising the need to share sensitive information. PayID will display the receiver's name, so you know exactly who you are paying.

4. Flexibility: Save and link multiple PayIDs (for example, mobile phone number, email, or ABN) to different accounts to simplify your finances.

5. Ease of Use: Ideal for personal, business, and everyday transactions.

How Safe Is PayID?

If you choose to set up a PayID with Broken Hill Bank, we prioritise our digital security promise across any of our services. Here are some security features and measures taken to ensure your bank accounts have extra digital security.

Unique and Non-Duplicable

When you register a PayID, it becomes exclusively linked to your chosen transaction account. If you did not have PayID set up and another person tried to register your details for a PayID, they would have to pass a verification process and confirm ownership of the email or phone number used for registration. 

PayID is unique and non-duplicable, which means that if you have PayID set up, no one can use your details to set up another PayID, protecting you from fraud. This relationship helps to protect your account from fraud and ensures that payment is sent to the correct account every time.

Name Verification For Every Payment

A further security measure to protect against mistakes and fraud with PayID is a built-in name-verification process. When someone sends you money using your PayID, they will see the name linked to your PayID, which confirms they are sending the money to the correct personal or business account.

Protected Payments Through NPP

All PayID payments made are processed through the New Payments Platform (NPP), which uses the same security standards that apply to regular internet banking, such as:

• End-to-End encryption

• Real-time fraud detection

PayID combines a convenient way to send and receive money with industry-leading security, which means you can feel confident knowing that your information is protected at every step.