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Welcome to PayTo - a modern alternative to direct debit

Use your bank account to pay your way. See and manage payments from your bank account, making life admin that little bit easier to manage. 

Where did it come from?

PayTo is an initiative of NPP Australia (NPPA), the organisation that operates and develops Australia’s real-time payments infrastructure, the New Payments Platform (NPP – also known as Osko). NPPA has also developed PayID, the centralised addressing service that enables users to direct payments into their account using an identifier that is easy to remember like their phone number, email address or ABN.

PayTo is the next addition to NPPA’s family of data-rich real-time payments capabilities. 

When can I use it?

LCU launched PayTo for members on the 4th October 2022. However it's up to the business who wishes to debit your account using PayTo to set up the arrangement. 

What is it for?

Real life example:

You join a gym, they ask for your account details and you give them either your BSB and Account number or your PayID.

The gym creates a PayTo agreement. The details of this appear in your internet banking for you to review and agree to before they are able to debit your account.

Henceforth you can see that agreement and all its details with options to pause, cancel or resume it at your discretion.

The benefits…

Use PayTo for your bills, holidays, gym membership, media subscriptions and much more.

Manage PayTo agreements easily within the security of your existing online banking.

See all the PayTo agreements you’ve set-up from your bank account together in the one spot, including status, date, amount and who the payment is for.

See when your payments are due, so you have enough funds in your bank account to avoid late payment fees or charges.

PayTo agreements are portable so you can easily move them between accounts and banks.

New names and terms to get familiar with:

PayTo agreement > The agreement that records the authorised payment terms between an initiating party and a payer customer. (basically the new equivalent of a direct debit)

Payment terms > The specific payment terms that collectively make up a PayTo agreement. These include:

  • Payee or payment initiator > The party initiating or receiving the payment.
  • Payment amount > Amount(s) authorised by the payer (that’s you)
  • Frequency > How often payments may be debited from your account.
  • Agreement > type Type of agreement, for example fixed or variable
  • First/last payment due > Date on which the first/last payment may be debited.
  • First/last payment amount > Amount which may be debited on the first/last payment date.
  • Description/short description > Long or short form description of the agreement.
  • Start date/end date > First and last date the agreement may be used for initiating payments from your account.

PayTo agreement statuses:

  • Action required
  • Active
  • Transfer to/transferred
  • Initiate transfer/transfer from
  • Recall or Amend/amended
  • Pause/paused
  • Resume/resumed
  • Cancel/cancelled