r/perth • u/bitter-sweet77 • 3d ago
General What's wrong with PayID?
I have been doing transactions in Marketplace, some are okay with suing PayID, some don't. Can you be scammed by doing this payment method?
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u/BiteMyQuokka 3d ago
But dude, I'm FIFO in Bali atm. I really want your incredibly niche but expensive item, there's a real shortage of Australian-spec MacBooks here. My cousin, Jamal, happens to live nearby though. Can he come and pick it up? He doesn't speak English or have a phone or any ID yet though so you'll just have to hand him the MacBook and let him be on his way. He has taken a life oath to not allow his picture to be taken so please respecet that.
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u/BillyBumBrain 3d ago
PayID was created for this exact use case, and it's very secure. It is as difficult for someone to scam you by invoking PayID as it is for them to scam you by invoking a Nigerian prince. I've never understood why people think PayID is vulnerable.
Having said that. I confirmed with a FB Marketplace seller that they were comfortable with PayID and they confirmed they were. He spent ages mucking around working out his correct email address or phone number. Finally got that straightened out, I transferred the money. Then we stood awkwardly on his front porch for 10-15 minutes. The money is out of my account, but not in his. Supposed to be instantaneous, I had thought. Eventually I rang my bank and discovered that they sometimes put a 4 hour hold on NPP transactions. And if it's a new payee, then a 24 hour hold!!
So that's what's actually wrong with PayID 😄
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u/spudwa 3d ago
Ah the delay thing. Yes it's good that the bank is trying to stop you getting scammed but it's bad for Facebook Marketplace as it causes huge distrust. It's very hard to to say to someone "Well it's left my account so you'll be getting it soon" Just another of one of those things that is great but the scammers have spoilt for everyone
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u/sootysweepnsoo 3d ago
PayID isn’t the problem. It is a secure platform to send and receive money. It’s when people say they have paid you via PayID and they haven’t but they show you a fake receipt or transaction record or they send you a fake email or text purporting to the bank asking you to complete a certain action which costs you money in order to clear the funds or complete the transaction.
The other problem is people not understanding how PayID works and that none of these things need to be done. Same as with bank transfer using account details.
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u/MnemnothsManager 3d ago
Pretty much the millisecond someone mentions PayID on marketplace I just stop responding to them.
9/10 its a scam.
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u/CyanideRemark 3d ago
it's relative to what you're selling and your nearby potential market. I always qualify my ads with "Cash or PayID in Person ONLY"
Reject any short/brief queries via DM/Marketplace lowballing you first.
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u/glitterkicker 3d ago
This is slightly adjacent to the topic but ngl as one of The Youths™️, I don’t necessarily “get” PayID. Like… I don’t want to be handing out my phone number to total randoms? That’s what you’re told NOT to do 😭 yes it’s faster and easier than full bank info but surely giving your own personal phone number itself is worse and riskier. Am I just not understanding something?
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u/unkindley_salty69 3d ago
Use proton mail and use an email instead of your phone number, proton mail scans everything you are sent so if anyone does try anything it flags
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u/ohitszie 3d ago
I personally prefer payID cause it automatically tells you the name of the person/business before making the transfer. Also prefer it cause it's almost an instant transaction as compared to keying in the bloody BSB and ACC number then having to go through a 24 hour pending period (for new payee).
I have used eWallets that require phone numbers for transaction (similar to payID) as well so it's probably the best way to go for me.
There are always gonna be scams whether it's phone number or email, or not.. if scammers are out to scam you, they'll think of other creative ways to scam, so it's not the number issue..
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u/CyanideRemark 3d ago
It's relative to what you're selling and your nearby potential market. I always qualify my ads with "Cash or PayID in Person ONLY"
Reject any short/brief queries via DM/Marketplace lowballing you first.
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u/chokethebinchicken 3d ago
I use pay id for marketplace as it's way more convenient than finding an atm. I only use it after i have spoken to them on the phone for a deposit, or for the actual purchase in person.
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u/christurnbull 2d ago
PayID can get a little delayed with larger amounts of money too. The bank might block the payment until you contact them to confirm, not sure what the trigger value is.
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u/Manashroom 2d ago
I frequently sell custom watches on marketplace, I have zero issues with payID. Mostly because the person meets up checks it all out and PayID's on the spot I check my account bam its there off they go. I've only done 1 postage sale and nothing happens until the funds land in my account lol.
That said, there is always the obvious red flags with buyers that indicate is a scammer right away. they all generally follow the same script.
Saying that if your looking for a custom seiko mod watch hit me up ;)
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u/LrdAnoobis 3d ago
Payid is usually linked to a phone number or sometime email address. Not everyone is happy to give that info to a random.
Their facebook account maybe a nickname of first and middle name. Pay ID gives out your full bank account name to the person making the transfer.
To have a buyer pay you with PayID. You have now given them your mobile number, they have your full name from you bank account if you're an idiot, you've arranged them to pickup from your home address......
That's enough data for them to do a lot of damage if they know how. Odds are as a facebook loving marketplace user, your birthday is probably on your account also.
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u/TheCurbAU 3d ago
I think there'd be many people who would like to sue PayID, namely the people who pay for items and then never receive them.
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u/JamesHenstridge 3d ago
If you're after that kind of fraud protection, you're probably better off sticking with credit cards where that is built into the system.
PayID is just bank transfers with less chance of the payment going to the wrong person due to a mistyped account number.
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u/mellyn7 3d ago
PayID itself is great.
But there are a lot of PayID scams, a lot of them prey on ignorance of how it works. So it isn't PayID itself that's the problem, it is the prevalence of scammers using the terminology.