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A PayID is a unique identifier linked to a bank account that makes sending and receiving money easy. This means the same level of security that protects your existing bank account payments will also protect payments made using a PayID. PayID is an optional new payment addressing service that enables users to elect somethingeasy to remember - like a phone (read the article) An alternative PayID e.g. email address or ABN, can be registered with another financial institution, payidpokies1 or to another account. First time payments to a new payee may be held for up to 24 hours as a security measure.
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