BPay Brokers - Deposit Method

What Is BPay?

BPay is yet another unique electronic payment solution primarily used for the paying of bills. However, BPay can be used to send and deposit money on a variety of sites including various forex brokers. It’s considered to be a fast, convenient and easy way to pay your bills.

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The payment system is used by Australian traders as it’s linked through Australian financial institutions. However, vendors are not restricted to Australian companies, online brokerages from around the globe can incorporate this deposit method into their platform. However, all payments must be in AUD currency, no other currencies are accepted. With that in mind, over 45,000 billers accept BPay, including many online brokers.

The BPay system was launched in 1997 and has continued to make significant developments to better their services. Today, there are more than 30 million payments through BPay per month, totalling an amount of $24 billion. Therefore, the system is trusted and reputable for allowing traders to deposit funds into their trading accounts.

How Does BPay Work?

As with many of these electronic bill payment solutions, BPay simplifies the process of paying bills, or in the case depositing funds in a trading account, it does so here as well. Traders can deposit funds by following the simple steps laid out below.

  • First, you must log into your online trading account and navigate towards the deposit section of your account.
  • Select BPay from the deposit methods available and enter in the amount in which you would like to deposit into your trading account.
  • Once the deposit amount is confirmed and submitted, you will receive BPay bill in your email associated with the account. The BPay bill will have a specific biller code which identifies your deposit request with the brokerage.
  • The next step is to login to your online banking and select the BPay payment option in the Bill Payment section.
  • Enter the payment details such as the BPay biller code, customer reference number (CRN), and the amount and date from your bill.
  • That’s it! Just click, and your payment will be sent which results in the successful deposit in your trading account.

Deposits are processed within 12-24 hours, this will vary depending on what time the deposit was initiated and whether it was completed on a banking business day or not.

Benefits Of Using BPay

  • Processing times are very quick (within 12-24 hours).
  • There are absolutely no fees involved, making it a viable option for every Australian trader.
  • It’s a quick and easy way to manage and execute a deposit. You can complete a deposit using the internet or mobile banking with a simple click.
  • BPay is a safe and secure method of payment used for over 30 million bill payments and deposits each month.
18 brokers listed
BPay
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7
  • Platforms: Andriod App, Apple App, iOS App, iPad/Tablet, Mobile App, Proprietary
  • License: ASIC
Your capital is at risk
1 2 3 4 5 6 7 8 9 10
5
  • Platforms: Andriod App, Apple App, cTrader, iOS App, MetaTrader 4, MetaTrader 5, Mobile App, Myfxbook, WebTrader, ZuluTrade
  • License: ASIC
Your capital is at risk
1 2 3 4 5 6 7 8 9 10
3.75
  • Platforms: Andriod App, Apple App, iOS App, iPad/Tablet, Mobile App, Proprietary
  • License: ASIC, FCA UK
Your capital is at risk
1 2 3 4 5 6 7 8 9 10
2.75
  • Platforms: Andriod App, Apple App, iOS App, iPad/Tablet, MetaTrader 4, Mobile App, WebTrader
  • License: ASIC, FCA UK, FINMA
Your capital is at risk
1 2 3 4 5 6 7 8 9 10
10
  • Platforms: Andriod App, Apple App, iOS App, IRESS Trader, MetaTrader 4, WebTrader
  • License: ASIC
Your capital is at risk
1 2 3 4 5 6 7 8 9 10
8.25
  • Platforms: Andriod App, Apple App, iOS App, MetaTrader 4, MetaTrader 5, Mobile App, WebTrader
  • License: CySEC, IFSC Belize
Your capital is at risk
1 2 3 4 5 6 7 8 9 10
7.75
  • Platforms: Andriod App, Apple App, iOS App, iPad/Tablet, IRESS Trader
  • License: ASIC
Your capital is at risk
1 2 3 4 5 6 7 8 9 10
7.75
  • Platforms: Andriod App, Apple App, iOS App, iPad/Tablet, IRESS Trader, Mobile App
  • License: ASIC
Your capital is at risk
1 2 3 4 5 6 7 8 9 10
7.25
  • Platforms: WebTrader
  • License: ADCA
Your capital is at risk
1 2 3 4 5 6 7 8 9 10
7
  • Platforms: IRESS Trader
  • License: ASIC
Your capital is at risk
1 2 3 4 5 6 7 8 9 10
6.75
  • Platforms: Andriod App, Apple App, iOS App
  • License: ASIC
Your capital is at risk
1 2 3 4 5 6 7 8 9 10
6.75
  • Platforms: Proprietary
  • License: ADCA
Your capital is at risk