PayTo is a new and easy way to pre-authorise payments straight from your bank account. Whether it’s an ongoing payment, or a one-off, PayTo gives you the power to get it done in real time via iBank.
Like a direct debit, you can make automatic payments from your bank account.
What are the benefits?
More visibility. See your PayTo agreements – like your gym membership and energy bills – in one place.
Control at your fingertips. Authorise new agreements before a business can take any money out of your account, and you can view and pause your PayTo agreement at any time.
Keep your data private. You can choose to use your PayID (mobile number or email address) when you pay, so your account details and personal information stay completely private.
A secure way to pay. Payments are protected as they’re approved in iBank, a secure environment that reduces the risk of fraudulent transactions.
What do you need to do?
There is no need to download an app or sign up for an additional service. PayTo will be built into iBank. In most cases you won’t notice anything different. Unless you opt to enter a ‘PayTo agreement.’ In this case, a business or biller will set up the agreement using your PayID (hyperlink to PayID page) for your authorisation. From here you can manage your payments.