What is PayID in Ubank?

Considering PayID as a separate tool for financial transactions, you will not find any visible disadvantages of such a method, as we are talking about instant transfers with confidentiality. PayID has become so popular with Australians that many regional banks have signed integration contracts. Ubank and PayID are considered to be some of the most reliable, and below, you will learn how to integrate them.

Thanks to the Ubank PayID setup you will significantly simplify the payment procedure by linking your bank account in advance. You will only have to tell the sender your unique identifier by setting it up in advance. You can use your email address, phone number or another value from a large number of characters as PayID for Ubank.

How to Set Up PayID in Ubank?

To connect Ubank Pay to PayID, you need to go through a simple integration procedure. Our experts have described it in detail:

1. Using your credentials, log in to your Ubank account.
2. Open the Settings section and select PayID, among other options.
3. Enter your ID by making sure it’s unique.
4. Link your PayID to one of your accounts (Spend, Bills, or Save.)
5. Confirm the procedure of integrating the account with PayID.

How to Make Payments Using PayID in Ubank?

Assuming you have prepared your account, then you can proceed to perform the Ubank PayID transfer by following the instructions below:

1. Authorize on the Ubank website or use your account in the mobile application
2. Specify the unique identifier of the recipient of funds, having specified it in advance
3. Confirm that the data is correct and corresponds to real values
4. Confirm the payment and wait for it to be processed, which usually takes from a few seconds to a few minutes

Ubank PayID Transaction Limits

For most users, the limits for money transfers with Ubank with PayID will not cause inconvenience because the maximum amount of transactions is 20,000 AUD daily. You can send up to 50,000 AUD. But for beginners, additional restrictions may be applied with a reduction of the limit; you will discover about it from the notification on the site.

PayID Transaction Speed with Ubank

One of the main advantages of PayID in Ubank is their speed, any transfer will be executed lightning fast, often you will not even blink before the amount is in the recipient’s account. The system works stably, which means that transactions at night or on a holiday will be delivered instantly.

However, sometimes there are delays. Often, this is due to incorrect user data. That is why our experts warn against haste and advise you to check all your data extremely carefully. There may be server overload in some cases, but this will, at most, make you wait 2-3 minutes.