Who can authorise a PayTo agreement?

PayTo is a new, digital way for merchants and businesses to initiate real-time payments from your account. It’s an alternative to direct debits that allows you to have more control over payments from your account. A PayTo agreement is an agreement between you and the payment initiator of the agreement that pre-authorises real-time payments from your account. Your PayTo agreement includes important information like the amount you authorise to come out of your account, the frequency of the payment and the date of the payment. You can even specify a maximum amount to allow for fluctuations in payment amounts or a set amount.

If you agree to set up a PayTo agreement with a payment initiator, for example, Foxtel (the party who has been authorised to debit your account), they will create the PayTo agreement through their financial institution and we will be notified. You’ll receive a notification from us via SMS or email requesting approval of the PayTo agreement. You’ll need to action this request within the timeframe stipulated by the payment initiator and your notification will tell you how to action the PayTo agreement.

It’s best to action the PayTo agreement request within the timeframe stipulated. If you don’t respond to the notification within that timeframe, the PayTo agreement may be withdrawn by the payment initiator, or it may expire. This could result in the cancellation of the services you’ve signed up for.

No. You’ll only need to authorise payments for the first payment and then for any variations to the payment that is outside the parameters of the PayTo agreement. For example, if you’ve agreed to pay $50 per week and a payment initiator requests $60 per week.

Yes, you can. Before authorising or declining a PayTo agreement, you should check that all the details are correct including the payment amount and frequency. If the details are incorrect, you can decline the PayTo agreement by following the instructions on the notification.

Yes. A PayTo agreement can be valid for up to 12 months (this will be agreed to with the payment initiator). Before the expiry date, it is expected that the payment initiator will contact you to re-authorise any amendments.

Payment initiators can only take the payment amount that’s within the parameters of the PayTo agreement.

For example, if a PayTo agreement has a maximum payment amount of $50 and the payment initiator attempts a payment of $55, you’ll receive a re-authorisation request because the amount is greater than the pre-authorised amount in the agreement. If you don’t re-authorise the request after 14 days, the existing conditions will remain. For example, if your existing agreement is for $50, that’s the payment amount that will remain in place.

If the payment initiator was taking a payment of $45, you won’t receive notification to authorise that payment because it is less than the maximum amount in your PayTo agreement.

PayTo is a modern alternative to direct debits, allowing members more visibility and control over their payment arrangements through an enhanced, digital experience. PayTo is not a replacement for direct debit and will operate in conjunction with existing direct debit processes and BPAY. Your direct debits will continue as normal unless your payment initiator contacts you to set up a PayTo agreement.

PayTo agreements can be created using a PayID linked to your account or by using a BSB and account number. PayID can’t be used on ‘multiple to sign accounts’ where more than one person is required to authorise transactions, but you can use BSB and Account numbers on these accounts.

All savings or transaction accounts that can be accessed using Internet Banking or Mobile Banking App are eligible for PayTo payments.

• Loan products and term deposits.
• Accounts that are not active e.g. closed or restricted accounts

It is your responsibility to ensure you have sufficient available funds in your account to process the PayTo payment. If there are not enough funds, we are not required to make the PayTo payment. If a PayTo payment isn’t made, you and the payment initiator are notified so appropriate action can be taken, which might include retrying the payment later.

The payment initiator will contact you to arrange an alternative solution and no record of the failed payment will be on your transaction history.

The payment is made in real-time, so will occur within a few minutes of the authorisation.

If a PayID is used, the owner of the PayID will receive notification to authorise the payment.
If a BSB and account number is used, all eligible account operators can authorise payments.

Yes, as long as the account is eligible (e.g. an active account). A PayID can only be linked to one account but can be used for both fast payment credits and PayTo payments.

You can cancel a PayTo agreement at any time through Internet Banking or the Mobile Banking App. It is important to understand the consequences of cancelling a PayTo agreement and if necessary, contact the relevant merchant or payment initiator. The merchant or payment initiator associated with the PayTo agreement will be notified that the PayTo agreement is cancelled. When you cancel a PayTo agreement, you won’t be able to re-activate it and it will stop related PayTo payments being made from your account. You should check your contractual obligations with the payment initiator and verify whether you’re still required to pay them.

The account holder will be sent a 1-way SMS at intervals letting them know the status of the transfer. The SMS will be sent from +61 489 988 024 or +61 437 126 492. If you have been contacted or are concerned about your privacy, please call us directly on 13 11 82 or visit a branch.

Please contact us on 13 11 82 to discuss your options.

Please contact us on 13 11 82 for additional support.

To manage your PayTo agreements in Internet Banking, navigate to the Transfer/Pay tab from the top of the screen and then click ‘PayTo agreements’ from the slide-out menu. You can then view and select the PayTo agreements you wish to manage.

To manage your PayTo agreements in our Mobile Banking App, navigate to the ‘Pay’ tab from the left-hand side menu and then click ‘PayTo agreements’.

People’s Choice uses industry-standard encryption to help you stay safe while you’re online banking with us, such as ensuring that a two-factor authentication has been completed before you approve a PayTo agreement.