Bank transfer is a more common payment method and it requires you to either log into your internet banking and make a transfer to us or call your bank and request that they do it for you. We don't automatically debit your account, you need to make the request from your side.
Bank transfers take longer as we need to wait for the bank to credit our account. This can take up to three days but is generally done within 24-48 hours. Bank transfers have a limit of $1,000 AUD for L1 verified users and $10,000 AUD per 24 hours for L2 users and can be increased on request.
Internet bank payment (POLi) is a service created by Australia Post. It is similar to bank transfer, where you need to login but instead of logging in directly to your bank's website you will be presented with a POLi website to log into. After you enter your bank's login details to POLI's site it will confirm that you want to transfer the money to our account.
POLI has a small fee attached to it but has the added benefit of being instant*. There is a maximum limit of $1,000 AUD per 24 hours.
*Please note that first time POLi deposits wont be credited until we have received the money in our bank. This is to help prevent charge-backs and fraudulent activity, once we have received the deposit into our account all future POLi deposits will be instant.