Will PayID replace existing account numbers and BSBs?

No. PayID is an alternative identifier, like an email address or mobile number, which can be linked to an account to receive payments made through the NPP or Osko. You can now provide your PayID or BSB and account number when you need to get paid. ​

It’s important to note that not all banks and financial institutions allow their customers to have a PayID or pay to a PayID.