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AMP Bank is building a new mobile banking experience that backs small businesses and gives everyday Aussies a better way to manage money.
It's coming early 2025.
PayID is a fast and secure way to pay someone without having to enter their BSB or account number. All you’ll need is their PayID.
A PayID is a unique identifier that’s easy to remember like a phone number, email address or an Australian Business Number (ABN). It works with the New Payments Platform (NPP) to process payments across participating financial institutions in near real-time. For a list visit the NPP or PayID websites.
To pay someone using PayID:
See our user guide for simple step by step instructions.
If you don't bank with us, you’ll need to open an eligible AMP Bank account such as AMP Saver or AMP Access. Once your account is active and has funds, you can either download the My AMP app or go to My AMP on the web and login to make payments. Please note that you won’t be able to create your own PayID with AMP Bank.
The following PayID types are supported across the financial institutions using the New Payments Platform (NPP):
No, you can still pay using a BSB and account number. A PayID is a unique identifier that provides you with another way to make payments. The benefit of paying to a PayID is that you can check that you’re paying the right person because you can see their name confirmed by the system before you authorise the payment.
PayID is an initiative of the New Payments Platform (NPP) Australia, the organisation that operates Australia’s real-time payments infrastructure. NPP Australia is a wholly owned subsidiary of Australian Payments Plus, Australia’s domestic payment organisation that also includes BPAY® Group and Eftpos. For more information please visit https://nppa.com.au/payid.
Payments to a PayID are made within the security of your online banking. This means the same level of security that protects your existing AMP bank account payments will also protect PayID payments. With scams on the rise, PayID has security measures to stop fraudsters from impersonating businesses or payees. Before you confirm a payment, you can verify the business name or name of the payee of the PayID you’re intending to pay. This adds an extra level of assurance that the payment is going to the right destination. However, you should always be aware of potential fraudsters trying to scam you out of your money. Learn more.
When a PayID is created, it’s linked to the name of the PayID owner which helps identify the recipient. The PayID name will be shown during the payment process to help confirm the payment is going to the right person/business. You should always check these details carefully before submitting your payment.
As a security measure, all near real-time payments, including those sent to a PayID are currently limited to $5,000 daily per customer. This is the maximum amount you’ll be able to send for payments to BSB and account number payees and to PayID payees in near real-time each day. Increases and decreases to this limit amount are not available at this time.
AMP Bank doesn’t currently charge any fees for sending payments to PayIDs. Your personal mobile and data usage plans will apply.
Yes, you can see all transactions, including payments to PayIDs that are successfully posted to your account, online (web and app) via your transaction history and on your statements. Any payments sent to a PayID will begin with “Transfer to PayID.”
Always double check the PayID name shown is correct before you submit your payment. If the details are wrong, funds may be sent to the wrong account, and it may not be possible to recover your funds.
AMP doesn’t check that the details you provide are correct or that the account name matches the PayID. Once you give final authorisation, your payment can’t be cancelled.
However, in some cases AMP can ask the receiving bank to return funds sent to unintended recipients. This may depend how much time has passed since the transaction was made. We’re generally only able to help in cases where the payment is made from a personal account (rather than a business account). Please contact us if you need help to recover your funds.
PayID payments are made in near real time and the money is generally available to the payee within minutes. If the payee has already confirmed with their bank that they haven’t received your payment, check your transaction history to make sure you can see the payment and that it hasn’t been reversed. If there is a reversal, the reversed payment details may explain why the payment failed. This may be for technical reasons, in which case you may resend the payment. Payments may also be stopped for security reasons, in which you may receive an SMS or a call from our Fraud team to request more information before the payment can be released. Please contact us for help.
No, you’re not able to schedule or create recurring payments using PayID. If you’d like to schedule a payment or create a recurring payment, please pay to a BSB and account number. Please also note that scheduled payments won’t be sent in near real time, so make sure you consider this when setting your transfer dates.
We’re constantly reviewing our offering and customer experience at AMP Bank. However, at this point, we don’t offer PayID receive, meaning you won’t be able to register a PayID linked to an AMP bank account.
PayID details may be seen by any joint account holder and authorised signatory for any accounts where you’re an account holder or signatory in My AMP.
When you add a new PayID payee, you’ll be able to ‘look up’ and verify the name of the owner of the PayID. As a security measure to protect the personal information of all customers, these PayID ‘look ups’ are limited to a certain number. If you’ve reached your limit, you can still make a payment using a BSB and account number or wait until the next day when your limit is reset.
No, PayID will never contact you directly. PayIDs are managed by the financial institutions where the PayID is registered. However, we’re aware of email scams which claim to come from PayID. Please always make sure you confirm the PayID details with the person or business you’d like to make a payment to.
* PayID is a registered trademark of NPP Australia Limited.
Credit and deposit products are issued by AMP Bank Limited ABN 15 081 596 009, AFSL and Australian credit licence 234517.
AMP Bank is a member of the Australian Banking Association (ABA) and is committed to the standards in the Banking Code of Practice.
® PayID is a registered trademark of NPP Australia Limited.
Footnotes
*Where a payment is sent in near real-time, it may take longer to arrive in some instances, such as where there is a technical interruption to the service or when the payment is subject to additional security screening.
**Standard processing times refer to the below:
- Where a payment is not sent in near real-time, those made before 4.00pm (Sydney time) on a business day will be processed the same day and can take up to two business days to be received.
- BPAY payment made before 5.00pm (Sydney time) on a business day will be processed that day and the biller should acknowledge the payment on the same business day it is processed (under BPAY rules).
- Payments made after these cut off times, or made on a weekend or public holiday, won’t be processed until the next business day.
