How does Basiq securely add my accounts as a payment method?

Basiq is the Open Banking API Platform we use to verify your bank account information.

How Basiq securely adds your bank account(s) as a payment method:

Basiq verifies bank account information using Open Banking - at this step, you may get an SMS or Email (depending on your bank’s notification method) from your banking institution notifying you that a Basiq connection has been established. As Basiq only requires this connection to be ongoing for a short period of time, you may also receive an email or SMS from your banking institution notifying you that this Basiq connection has concluded.

For more information on Basiq click here

Upon successful verification, your bank account will be added to PayWallet and will be ready for use.

Upon a failed connection, if you receive an error message, this can be relayed on to our support team for further assistance at support@pay.com.au.

Possible reasons for failure: if the process is cancelled mid-way.

We understand that there might be some concerns about utilising the open banking integration with Basiq to link your bank account with our services. For more information on Open banking and how it is commonly used, please visit the Australian Banking Association website by clicking here.