Which Australian brokers accept PayID deposits?
Verdict
- Pepperstone accepts PayID deposits for Australian clients: minimum $10, credited instantly, no fee, and it is the broker we recommend for anyone who wants to fund straight from a banking app.
- PayID also works in reverse at Pepperstone: withdrawals by PayID are listed at up to 2 business days, free.
- In the payment lists we hold for Capital.com and IC Markets, PayID does not appear; IC Markets lists BPAY and POLi instead.
- Payment menus change, so confirm the method inside the broker's client portal before you open an account for it.
PayID lets you pay a short identifier, such as an email address, from the banking app you already use, without typing a BSB and account number. Of the brokers whose payment pages we verified, Pepperstone is the one that lists it, for both deposits and withdrawals.
Pepperstone: PayID in, PayID out
Pepperstone Group Limited (AFSL 414530) lists PayID on its Australian funding page with a $10 minimum, instant crediting and no charge. Because Pepperstone pays withdrawals back to the source of funds, a PayID deposit also gives you a PayID withdrawal route, listed at up to 2 business days and free. For a trader who needs margin in the account quickly before the Sydney open or a data release, instant crediting is the point: a domestic bank transfer to the same broker can take up to 7 business days.
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Local payment methods we could confirm
| Broker | PayID | BPAY | Other local options |
|---|---|---|---|
| Pepperstone | Yes: deposit min $10, instant; withdrawal up to 2 business days | Yes: deposit min $10, up to 1 business day | Domestic bank transfer, no minimum |
| IC Markets | Not in its list we hold | Listed | POLi listed |
| Capital.com | Not in its list we hold | Not in its list we hold | Cards, bank transfer, Apple Pay, Google Pay, PayPal |
How a PayID deposit usually works
- In the broker's client portal, choose PayID as the deposit method and enter the amount.
- Copy the PayID details the portal shows you, usually with a reference that links the payment to your account.
- Pay from your own bank account in the banking app; the name on the bank account should match your trading account.
- Check that the deposit appears in your trading account before placing trades that rely on it.
PayID against the alternatives
If speed matters, PayID and cards both credit instantly at Pepperstone; BPAY takes up to a business day and a domestic transfer up to seven. PayID's advantage over a card is the withdrawal leg: money returns to your bank account rather than a card, which suits traders who prefer to keep trading funds in a dedicated bank account. All four routes are free on Pepperstone's Australian table.
- PayID: instant, $10 minimum, withdrawals up to 2 business days.
- Card, Apple Pay, Google Pay: instant, $10 minimum, withdrawals up to 2 business days.
- BPAY: up to 1 business day, $10 minimum.
- Domestic bank transfer: up to 7 business days, no minimum.
Checks before relying on PayID
- Make sure the payee details came from inside the broker's own portal, not from an email or a phone call.
- Pay only from an account in your own name; third-party payments are a common reason brokers reject deposits.
- Keep the deposit in the account's base currency, such as AUD, to avoid conversion.
- Remember the account behind your PayID deposit is where withdrawals will go.
Sources
Payment pages published by the brokers.
What is the minimum PayID deposit at Pepperstone?
$10, the same as its card and BPAY minimum. The deposit is listed as instant and free.
Can I withdraw to PayID if I deposited by card?
Pepperstone returns money to the source you funded from, so a card deposit is normally withdrawn to the card. Fund by PayID if you want bank withdrawals.
Does PayID cost anything at Pepperstone?
No. Its Australian funding and withdrawal tables list PayID as free in both directions.
CFDs are leveraged and complex, and you can lose money rapidly. Make sure you understand how they work and can afford the risk. Nothing here is investment advice; broker terms change, so confirm them in the broker's own documents before you deposit.