Is PayID Instant?

Yes, PayID transfers are usually instant, meaning the recipient will receive the money in their account immediately. This is one of the main advantages of using PayID for payments in Australia.

This instant transfer process is made possible by the New Payments Platform (NPP), which is the infrastructure that supports PayID and other fast payment methods in Australia.

However, it’s important to note that while most PayID transfers are instant, there may be rare occasions when a transfer is delayed. This could be due to technical issues, maintenance, or other factors beyond the control of the banks or financial institutions involved. In such cases, the payment may take a few minutes to a few hours to complete.