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The Australian Banking Association (ABA) is encouraging farmers and small businesses in regional areas to remain vigilant for potential scams following a significant rise in 2022.
“We encourage customers to find out more about PayID and a good place to start is the website payid.com.au”
Unlike paying to a BSB and account number, PayID gives the user the ability to confirm the name of the account holder before they transfer funds.
Services such as PayID, BPay and e-invoicing will show who you’re paying before you pay, ensuring money is going to the intended account.
“Scammers don’t target one group over another, they target all people of all backgrounds, ages and income levels across Australia.”