What is PayID? A fast way to send and receive money

Ditch the scrap paper and the scramble to find your BSB — sending money in Australia just got a whole lot simpler.

Whether you’re splitting the bill for a dinner out or paying back a mate for concert tickets, you don’t need to remember long account numbers anymore.

With Revolut, you can manage your money all in one place and send money quickly with PayID.

Sign up to start sending money with just a phone number or email address today, or read on to learn more about PayID.

Remittance fees, fair usage limits, and T&Cs apply.

The information provided is accurate as of 16 January 2026.

The content of this page is for general information purposes only and does not constitute financial advice. If you have any questions about your personal circumstances, please seek professional and independent advice. Revolut is not a financial adviser.

What's PayID and how does it work? A quick walk-through

PayID is a service that links your account to an easy-to-remember identifier, like your mobile number or email address.

Instead of giving someone your BSB and account number, you provide your PayID. Transfers made via PayID are processed in near real-time, 24/7, even on weekends and public holidays.

What's PayID?

PayID is a smart address for your account. Developed by the Australian financial industry, it was designed to make the process of paying and getting paid as easy as sending an email.

In the past, Australian transfers relied heavily on the BSB (Bank State Branch) and account number system. While it worked, it was prone to mistakes, and one wrong digit could send your money to the wrong person.

PayID acts as a layer on top of your existing account. It doesn't replace your account, it just gives it a nickname that people can remember. It’s part of the broader New Payments Platform (NPP) ecosystem, which has transformed the way money moves across the country.

How does PayID work?

When you send money using PayID, you're tapping into the New Payments Platform (NPP). This system connects Australian financial institutions, allowing them to settle payments in seconds rather than days.

The technical process is simple: when you enter a PayID into your app, the system looks up which account is linked to that number. Before you hit the final Send button, the app shows you the PayID name registered to that number. This means you can confirm you're paying 'John Doe' rather than a string of random digits.

Once you confirm, the money is moved via Osko, a service that helps with these fast transfers, and arrives in the recipient's account immediately.

How to set up PayID with Revolut

Setting up your unique identifier is a quick process that we’ve built directly into our app. You don’t need to visit a branch or fill out any forms.

Registering your unique identifier

To get started, follow these steps in-app:

1. If you’re not a Revolut customer yet, download our app and open your account without fees in a matter of minutes
2. Open your app and tap on the PayID symbol in the Home screen
3. Tap the Settings icon in the top-right corner
4. Tap the PayID you'd like to register
5. You'll then be sent a one-time pin via email or SMS to enable your PayID
6. Enter the 6-digit code in-app to finish registering your PayID

What you can use as a PayID

In Australia, the most common identifiers are:

• mobile numbers: easy since most people have their phone handy
• email addresses: a great alternative if you prefer not to share your mobile number
• ABN/ACN: essential for businesses, allowing you to pay using an Australian business number
• organisation ID: used by larger institutions or government bodies

Managing multiple accounts with PayID

You can have multiple PayIDs, but each unique identifier (like one specific phone number) can only be linked to one account at a time.

For example, if you have a phone number and an email address, you can:

• link your phone number to your account with us
• link your email address to a different account
• not link that same phone number to 2 different providers at the same time

If you try to register a number that's already in use elsewhere, the app will let you know. You’ll then need to close or move the PayID from your other provider before you can use it with us.

Changing your PayID information

If your mobile number or email changes, it's important to update your PayID settings right away.

• Updating details: you can unregister the old number and link the new one in-app.
• Switching provider: if you want to move your PayID from another provider to us, you can usually start a transfer or port request. This lets you keep the same PayID but point it to your new account.

How to send money with PayID

Sending money is as easy as receiving it. You don't even need to have a PayID yourself to send money to someone else who has one.

1. Go to Payments on the bottom menu
2. Tap the + symbol in the top-right corner
3. Tap New PayIDcontact
4. Enter the recipient's phone number, email, ABN, or Organisation Identifier
5. Choose the transfer amount
6. Review the transfer, then tap Send

How long does a PayID transfer take?

In most cases, payments happen in under 60 seconds. Because it runs on the NPP and Osko, it doesn't matter if it's 2am on a Sunday or Christmas Day — the money moves when you send it.

However, there are a few reasons a transfer might take a bit longer:

• First-time payments: to protect you, a payment to a brand-new contact could be held for up to 24 hours to check it’s legitimate
• Technical issues: if the recipient's provider is having an outage or doesn't support the NPP, the payment might fall back to a standard transfer (up to 3 business days)
• Security flags: if our automated systems detect something unusual, we'll pause the transfer to double-check with you

PayID vs BSB

While you can still use traditional banking details, PayID offers a more modern experience for local transfers.

Staying safe with PayID

Safety's the foundation of the PayID system. Because it's part of the Australian banking network, it's protected by high-level encryption and security protocols.

The key safety feature is the confirmation of payee. Before you send money, you’ll see the registered name of the person you're paying. This helps prevent your money from being sent to the wrong person.

Avoiding PayID scams

While the tech's secure, scammers might try to use PayID to trick you. Watch for these red flags:

• The upgrade scam: a buyer might claim they can't pay you because you need a Business PayID or need to pay a refundable fee to upgrade your account. This is a scam. There's no such thing as an upgrade fee for PayID.
• Overpayment scam: someone sends you a fake screenshot showing they overpaid you and asks you to send the difference back. Always check your actual balance in-app first.
• The verification link: we'll never send you a random text with a link asking you to verify your PayID. If you get one, it's a phishing attempt.
• Third-party pick-ups: be cautious if a buyer insists on paying via PayID and then sending a relative or courier to pick up the item. Often, the payment is fraudulent or made via a compromised account.

Learn more about fraud and scams to avoid them.

How we protect your transfers

Beyond the standard PayID features, we’ve got your back with our own security tech.

We use an award-winning fraud detection system that monitors your account 24/7 for anything suspicious. If we spot a transfer that looks out of character, we’ll alert you immediately or pause the payment until we’re sure it’s you.

Learn more about how we protect your money.

How much does a PayID transfer cost?

We don't charge fees for creating a PayID or for sending and receiving money via this method within Australia.

It's a no-cost feature we've added to help you move money faster.

While the service itself has no fees attached, always check your plan's specific terms and limits.

Loving PayID? Discover Revolut-to-Revolut transfers

Another way to move money within seconds is by sending money between Revolut accounts.

If you’re sending money to another Revolut customer, the payment doesn't need to go through external networks like the NPP. This means it happens within seconds, whether they’re across the street or on the other side of the globe.

Sending money to other customers is done at no extra charge, making it a great option for splitting bills or sending support to family abroad.

Exchange fees and fair usage limits apply.

Join Revolut and start sending with PayID

Ready to experience a smarter way to manage your money? Here's how to join the millions of people who use our app:

1. Download the Revolut app, sign up, and verify your identity in a few minutes
2. Add money to your Revolut account via your debit card or a standard bank transfer
3. Go to your settings, verify your mobile or email, and you're ready to go
4. Follow the steps mentioned above to start sending PayID with us