FlipPay accounts are enabled for EFT/PayID payments using a unique virtual bank account assigned to every merchant account, which can also be switched off in favour of an agency's existing bank account.

Every FlipPay merchant account has a unique virtual bank account assigned to it. This account operates just like a normal bank account but is owned and managed by FlipPay, allowing FlipPay's platform to automatically reconcile payments and process disbursements in real-time, as funds are paid in/out of the account.

Virtual bank accounts present an account name, BSB and account number, just like a normal bank account. Anyone can send funds to a FlipPay virtual account via normal bank transfer methods (using the BSB/account number).

Each virtual bank account has it's own PayID, allowing anyone to send funds via the New Payments Platform (NPP).

This means that while your bank account might not support a PayID, FlipPay can provide you with one via a virtual bank account, disbursing funds received directly to your bank account via traditional direct credit.

As FlipPay's platform manages transactions via virtual accounts in real-time, FlipPay can provide instant notifications of payment receipt and related disbursements, even if the funds take a few days to arrive in your account (assuming your account is not NPP-enabled).

Despite the benefits of using a FlipPay virtual account, if you prefer not to use this service then you may:

When you disable FlipPay's virtual account service, FlipPay can no longer:

If you are using FlipPay primarily for payments only rather than finance options, your account may have the EFT/PayID service disabled.