PayID is a near instant deposit method, currently available on Swyftx for you to deposit your money into your account as quickly and easily as possible.
PayID deposits are sent using our PayID Email address for your Swyftx account. This will be provided to you when you generate a new PayID Deposit Address via the deposit tab for AUD. When you are on this page, as shown below, you will be able to select the PayID deposit option and then generate this address here. It is always important to also read the "Important Deposit Information" outlined in field 2 shown below as it provides key information for making a deposits, such as a minimum limits and any fees that may be incurred here.
Once you have generated the address, the below attached information will appear that will show you the biller name and PayID email address to use for this deposit here, shown in fields 1 and 2 respectively below. You will also be able to use the button in field 3 to copy these details and input them in your internet banking portal for the purposes of this deposit.
To make a new deposit
- Log into your bank
- Create a new payment via PayID (or "pay someone using email address").
- Enter in the email address found on the deposit screen.
- You can enter anything you like in the reference field for your own records, this will not affect the transfer on our end
- Finally, enter the amount you want to send and complete the transfer
Bank Specific instructions
Although PayID is a fast way to deposit your funds, your bank may impose a limit on how much you can send - typically around the $1000 mark. If you want to deposit more than this limit, we suggest first depositing as much as your bank allows via PayID, then using another payment method for the remainder.
Depositing via Westpac, St George, Bank SA or Bendigo?
Unfortunately, it has come to our attention that customers who bank with Westpac, St George, Bank SA & Bendigo, who send their money to Swyftx via PayID, are having their transfers to Swyftx delayed or cancelled.
These banks are indicating that fraudulent funds have passed through Swyftx. Unfortunately Bitcoin has high crime rates, which Swyftx spends a great deal of time preventing.
If you bank with either of these Banks, please use the Bank Transfer (same day credit) or POLi (instant credit) deposit methods as these do not come under the same scrutiny. Alternatively Send via PayID from another bank.
If you have any further questions relating to your deposit, please don't hesitate to contact our friendly team via live-chat.