How to Cancel a PayID Payment

If you’ve accidentally sent money to the wrong PayID account while gambling online, or suspect you’ve been scammed by an untrustworthy casino, the first and most important step is to contact your bank immediately. Your bank is the only entity that can attempt to reverse the payment, but this must be done quickly, as there is only a brief window of time before the transaction is fully processed. Avoid wasting time seeking advice on forums or social media—your bank is your best chance for resolution.

Unauthorised Transfers and Gambling Scams

If you notice an unauthorised transfer in your account, it’s crucial to notify your bank as soon as possible. However, it’s important to understand that if the transaction has already been processed, or if you authorised the payment—even to a fraudulent online casino—you likely won’t be able to recover your funds. Unfortunately, once money has been sent, it cannot be retrieved, particularly in cases of gambling-related scams.

Beware of scammers or services claiming they can recover lost funds, as this is often another scam. Online casinos that ask for additional payments to “unlock” winnings or to upgrade your account are common examples of fraudulent behaviour. If you’re unsure about the legitimacy of a casino, always check reviews and verify its licensing before depositing.

How to Stop or Deactivate Your PayID

To temporarily stop payments to your PayID, you can contact your bank’s Help Desk at 1300 655 505 (8am–8pm Sydney time) or +61 2 9155 7700 if calling from overseas. They can lock your PayID until you’re ready to use it again, which is particularly helpful if you suspect fraudulent activity.

If you want to permanently deactivate your PayID, the same Help Desk can assist you in closing it. Once closed, you’ll no longer receive payments via PayID but can still use fast Osko payments through your BSB and account number. Should you decide to gamble online again, you can reactivate your PayID at any participating financial institution.

Gambling-Related Risks with PayID

PayID is widely regarded as a secure and convenient payment method for online gambling, offering instant deposits without the need to share sensitive card details. However, its speed and simplicity can also make it a target for scammers, particularly on unlicensed or unreliable casino platforms. Scammers may exploit PayID’s features by requesting payments for fake bonuses, additional deposits to release winnings, or other illegitimate reasons.

To minimise risk, always use PayID with licensed and reputable online casinos. Look for platforms that are transparent about their payment processes and have positive reviews from other players. If you suspect fraudulent activity, act quickly by locking your PayID and reporting the incident to your bank.

Why Your PayID Might Be Locked

Banks closely monitor PayID transactions to identify misuse or fraud. If your PayID is locked, it may be due to suspicious activity, such as excessive gambling deposits or unauthorised attempts to access your account. Your bank may also lock your PayID if the linked account becomes ineligible for payments or if you deregister from online banking. In some cases, unlocking your PayID may be restricted, and you’ll need to contact your bank for further assistance.

While PayID is a fast and secure payment method for online gambling, it’s essential to remain vigilant and take immediate action if something goes wrong. Always gamble responsibly and ensure that the platforms you use are licensed and trustworthy. If you experience a PayID issue or suspect fraudulent activity, contact your bank without delay. Remember, prevention is key to protecting your funds and enjoying a safe, hassle-free gambling experience.