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Use a PayID within the security on your online banking for fast, secure payments between Australian financial institutions, available on both The Mutual App and Internet Banking.
A PayID is an alias for your account BSB and account number which acts as an easier, safer and quicker way for you to send and receive money.
Available at more than 100 Australian financial institutions, PayID is fast, simple, secure, and helps you to check and validate the name of the payee to ensure your money is going to the right person or business before you press ‘send’.
Perfect to use when dining with friends and your favourite restaurant doesn’t split bills, transferring money to family or friends, paying rent or collecting money for a group gift.
A PayID doesn’t replace your BSB and account number, but it is easier for you to remember and when your PayID is used, payments happen almost instantly.
PayID can be used 24/7, between different financial institutions and it makes it easy for you to check and validate the name of the payee ensure you are sending money to the right person.
PayID is an initiative of Australian Payments Plus, Australia’s domestic payments organisation that also includes BPAY Group, eftpos and NPP Australia.
You can set up and manage a PayID on your account using the Mutual App. Just log in, select Pay on the welcome page then select Manage PayIDs. From there follow the prompts to set up or manage your PayID.
To set up or manage a PayID on your account using Internet Banking. Just log into Internet Banking, then hover over My Preferences and select Manage PayID. Follow the prompts on the page to complete setting up or managing your PayID.
You can only use your mobile phone number or email address or business ABN as recorded in your membership record at The Mutual Bank. You must apply to us to have an ABN registered as your business account PayID.
To send payments to someone using a PayID, they will need to provide you with the details of their PayID e.g. mobile phone number, email address or for businesses, an ABN number.
Using the Mutual App, log in, select Pay then Pay Anyone. In the top right corner select New and select the format of their PayID. This will be either an account, phone number, email address, ABN or Organisation ID. Enter their PayID details and their PayID name will appear for you to check and validate the payee. If the PayID name is the payee you wish to send funds to, then you can then continue to authorise the payment as usual which will be sent immediately using Osko.
Using Internet Banking, login and hover over Payments in the top menu bar. Select Transfer Money which will take you to a new page. Select the account to transfer from using the drop down menu. Select New Personal Payee then select the transfer method – Financial Account, Email Address, Phone Number, ABN or Organisation ID. Once you have entered their details, the PayID Name will appear for you to check and validate the payee. If this payee you wish to transfer the funds to, continue to authorise the transfer as usual which will be sent immediately using Osko. You can also save a nickname for this payee for future use.
For assistance to set up or manage your PayID, contact our Member Services Team on 1300 688 825 or enquire at your local branch.
For more information on PayID visit the PayID website.
Any advice or information on this site does not consider your personal objectives, financial situation, or needs, and you should consider whether it is appropriate for you. Please review our Product Disclosure Statement, Target Market Determination, Terms and Conditions, Financial Services Guide, and Credit Guide, before deciding to acquire a product. Interest rates, fees, and charges may change without notice.