Laboratories Credit Union Limited

The Truth about BPAY

Written by Ami Shukla

Print

BPAY is a much loved Australian payment method; however there are a lot of myths out there about the details of paying with BPAY.

Did you know?

Myth - BPAY is an overseas owned multinational company.

Truth - BPAY is fully Australian owned.

Myth - It takes 3 days to ‘process’ BPAY payments.

Truth - Some Financial Institutions take 3 days to clear BPAY payments but BPAY payments are considered paid that day if you pay before the financial institution’s cut-off time during a business banking day.

Myth - You need the BPAY biller code and payment details every time.

Truth - BPAY remembers your payment details with most payments.

Myth - BPAY charges fees for all transactions.

Truth - BPAY is a cost effective payment option. At LCU it is free.

Myth - BPAY stands for Bill Pay.

Truth - BPAY stands for Bank Pay.

Myth - When you need help with BPAY you need to talk with BPAY or the company you’re making the payment too.

Truth - For BPAY help, just talk to your financial institution            

So it’s no surprise that last year over 330 million payments were made using BPAY and that is it offered on over 45,000 bill.

Look for the BPAY logo on your bill and let BPAY give you payment peace of mind, every time.

BPAY®is a trademark of BPAY Pty Ltd ABN 69 079 137 518. Check if BPAY is right for you by reading the terms and conditions available from your Financial Institution.