PayID is an easy-to-use deposit method that lets you make safe payments directly to Swyftx without the need for a card.

Deposits to your Swyftx account must be made from a bank account under the same name as your Swyftx account.

PayID deposits are available for Australian customers only.

How to deposit funds with PayID

• App

  Step 1: Find your PayID address for your Swyftx account

  1. From Quick actions in the toolbar, select  Deposit funds.
  2. Select PayID as the deposit method.
  3. Enter the amount you want to deposit.
  4. Copy the PayID (email address) from the deposit information.

   

  ---

   

  Step 2: Make a new deposit from your bank

  Deposits must be made from a bank account under the same name as your Swyftx account.

  1. Log into your bank.
  2. Create a new payment via PayID (or pay someone using an email address).
  3. Enter the email address found on the deposit screen.
  4. You can enter anything you like in the reference field for your records, as it won't affect the transfer on our end.
  5. Enter the amount you want to send to complete the transfer.

• Web

  Step 1: Find your PayID address for your Swyftx account

  1. Expand the side menu and select Deposit.
  2. Select a currency from the list.
  3. Select PayID from Deposit methods.
  4. Copy the PayID (email address) from the deposit information.

   

  ---

   

  Step 2: Make a new deposit from your bank

  Deposits must be made from a bank account under the same name as your Swyftx account.

  1. Log into your bank.
  2. Create a new payment via PayID (or pay someone using an email address).
  3. Enter the email address found on the deposit screen.
  4. You can enter anything you like in the reference field for your records, as it won't affect the transfer on our end.
  5. Enter the amount you want to send to complete the transfer.

Deposit times

Usually instant.

Deposit delays

Your first bank transfer can take up to 24 business hours to arrive in your Swyftx account due to banks' security measures.

Additionally, Commonwealth Bank (CBA) and its related brand, Bankwest, impose 24-hour holds on deposits to crypto trading platforms. This is the banks' internal procedure, regardless of whether you've deposited to our exchange before.

If your deposit is delayed:

1. Check the deposit in your online banking. If it's showing as 'Pending', it is still with your bank.
2. Call your bank to enquire about the delay.

Banking business hours do apply. If, for example, you've made a deposit on a Friday or over the weekend, it's likely it will not arrive until the following Monday.

Limits

$30 AUD minimum deposit.

$50,000 AUD a day maximum deposit.

Limits include both cash and crypto transactions.

Fees for PayID deposits

$0

There are no fees for PayID deposits.

Your financial institution may charge a fee.

Verification

We may ask you to complete further verification after depositing.