POLi is an online payment service that connects your internet banking directly to merchants, enabling instant deposits without credit cards or registration. Owned by Australia Post, POLi ceased Australian operations in September 2023 but continues serving New Zealand customers.
POLi deposit has been a cornerstone payment method for online transactions in Australia and New Zealand since 2006. This internet banking payment solution allows users to make instant deposits directly from their bank accounts to merchants without needing credit cards, registration, or storing sensitive financial information. While POLi ceased Australian operations in September 2023, understanding how it worked and its ongoing New Zealand operations remains valuable for users seeking secure, instant payment methods.
POLi Payments was established as an innovative solution to the growing need for secure online payments in the Australia-New Zealand region. Owned by POLi Payments Pty Ltd, a business unit of Australia Post, the service was designed to provide a Pay Anyone capability that worked seamlessly with internet banking systems across more than 17 financial institutions.
The fundamental advantage of POLi deposits lies in their simplicity and speed. Unlike traditional payment methods that require card details or account creation, POLi leverages your existing online banking credentials to facilitate direct bank transfers. This approach eliminated the need for users to share sensitive banking information with multiple merchants, reducing security risks while maintaining transaction speed.
For merchants and service providers, POLi offered instant payment confirmation, reducing transaction abandonment rates and improving cash flow. The service supported only two currencies, Australian Dollars and New Zealand Dollars, reflecting its regional focus and optimization for local banking infrastructure.
Making a deposit using POLi is straightforward and typically completes within 60 seconds. The process requires only your internet banking login credentials and works across desktop and mobile devices.
To deposit funds using POLi, first log into your account with the merchant or service provider. Navigate to the deposit or payment section and select POLi as your preferred payment method from the available options. Enter the amount you wish to deposit, ensuring it falls within any minimum or maximum limits set by the merchant.
You will then be redirected to the POLi payment website. Here, select your bank from the list of supported financial institutions. This triggers a secure connection to your bank's internet banking portal. Log in using your standard online banking username and password, exactly as you would for normal internet banking.
Once logged in, POLi presents a pre-filled payment form showing the merchant details and amount. Review these details carefully, then authorize the payment using your bank's standard confirmation process. The funds transfer immediately, and both you and the merchant receive instant confirmation. Your account is topped up within seconds, and you can begin using the deposited funds immediately.
POLi worked with over 17 major Australian banks before the service closure, including Commonwealth Bank, Westpac, ANZ, NAB, and numerous regional banks and credit unions. In New Zealand, POLi continues to support major institutions including ANZ New Zealand, ASB, BNZ, Kiwibank, and Westpac New Zealand.
The specific banks available depend on your location and the merchant's configuration. When you reach the POLi payment page, only banks compatible with your transaction will appear in the selection list.
One of POLi's most attractive features has been its fee structure, which generally favors the end user. POLi Payments does not charge customers for making payments through their system. The company strongly encourages merchants not to pass on any processing fees to customers, aiming to make POLi payments completely free for users.
While POLi itself does not charge users, some banks may impose fees for certain types of transfers or transactions. These fees vary by financial institution and account type. If your bank charges for internet banking transfers or bill payments, the same fee structure may apply to POLi transactions.
Additionally, some merchants may choose to add a surcharge for using POLi, though this practice is discouraged. Always check the total amount displayed before confirming your payment to ensure you understand the complete cost.
For merchants, POLi charges processing fees similar to other payment gateway services. These costs are typically lower than credit card processing fees, making POLi an economically attractive option for businesses handling high transaction volumes.
POLi functions as a secure bridge between your online banking portal and the merchant you want to pay. When you select POLi as your payment method, you are redirected to the POLi website where you choose your bank. You then log in using your standard internet banking credentials, and POLi facilitates the transfer directly from your account to the merchant.
The entire process typically completes within 60 seconds, with most transactions confirmed instantly. POLi never stores your banking credentials or sensitive information. The service works exclusively with internet banking, meaning you need active online banking access with a supported financial institution to use POLi deposits.
Security has always been a central focus for POLi Payments. The service employs multiple layers of protection to ensure user data remains secure throughout the transaction process.
POLi never captures or stores your banking username, password, or other login credentials. When you log into your bank through the POLi interface, the service acts as a secure conduit, facilitating the connection without recording sensitive information. This architecture means POLi cannot access your bank account outside of the specific transaction you authorize.
The company conducts regular security audits and reviews to maintain compliance with modern security standards. All data transmission occurs over encrypted connections, protecting information from interception during transfer. POLi's security model relies on your bank's existing authentication systems, meaning you benefit from the same security measures your financial institution provides for standard internet banking.
Because POLi does not require registration, no personal information is stored in a POLi account. Each transaction is independent, with only the necessary payment details transmitted to complete the transfer. This approach minimizes your digital footprint and reduces the risk of data breaches affecting your financial information.
However, users should be aware that POLi can see transaction details during the payment process, including the amount and recipient. This visibility is necessary for the service to function but means POLi has temporary access to your transaction information.
POLi deposits offer several compelling benefits that made the service popular across Australia and New Zealand for nearly two decades.
Instant transaction confirmation stands as POLi's primary advantage. Unlike bank transfers that may take hours or days to clear, POLi deposits appear in your merchant account within seconds. This speed is particularly valuable for time-sensitive transactions such as betting on live events, purchasing limited-availability items, or sending urgent money transfers.
The convenience of using existing internet banking credentials eliminates the need to remember additional passwords or manage separate payment accounts. If you can access your online banking, you can use POLi without any additional setup.
POLi provides greater control over your financial information compared to storing card details with multiple merchants. Each transaction requires active authorization through your bank, preventing unauthorized charges. The absence of stored credentials means there is no POLi account to be compromised in a data breach.
POLi works for users who prefer not to use credit cards or who may not have access to card-based payment methods. This inclusivity extends financial services access to a broader population, including those who rely solely on transaction accounts.
Despite its benefits, POLi deposits come with certain limitations that users should consider.
POLi operates exclusively in Australia and New Zealand, supporting only AUD and NZD currencies. This geographic limitation means the service cannot be used for international transactions or by users outside these regions. The September 2023 closure of Australian operations further restricted availability to New Zealand only.
Not all banks support POLi, and support levels have declined over time. The reduction in bank acceptance was a primary factor in POLi's decision to cease Australian operations. Users must verify their bank is supported before relying on POLi as a payment method.
While POLi excels at deposits, withdrawal capabilities vary by merchant. Some services that accept POLi deposits may not offer POLi withdrawals, requiring users to arrange alternative methods for receiving funds. This asymmetry can complicate account management for users who prefer consistent payment methods.
POLi acceptance among merchants has decreased, particularly following the Australian closure. Users in New Zealand may find fewer options compared to more universal payment methods like credit cards or PayPal.
On September 30, 2023, POLi Payments concluded its services to Australian users, marking the end of an era for one of the country's pioneering online payment solutions.
Australia Post cited several factors in the decision to close POLi's Australian operations. Declining support from major Australian banks reduced the service's utility and reach. Growing competition from alternative payment methods, particularly real-time payment systems like PayID and digital wallets such as PayPal, Apple Pay, and Google Pay, eroded POLi's market position.
The strategic decision also reflected Australia Post's broader effort to simplify its product portfolio and focus resources on core services. As the payment landscape evolved rapidly with new technologies and regulatory frameworks, maintaining POLi's competitive position required ongoing investment that Australia Post chose to redirect.
Australian users who relied on POLi for betting sites, online casinos, cryptocurrency exchanges, and other services needed to transition to alternative payment methods. Major platforms like CoinSpot announced that POLi deposits would no longer be available after September 28, 2023, directing users to PayID, PayPal, direct deposits, cash deposits, and card deposits as alternatives.
Merchants faced the challenge of updating payment systems and communicating changes to customers. Many had integrated POLi deeply into their payment flows and needed to ensure seamless transitions to prevent transaction failures and customer frustration.
Following POLi's Australian closure, users have several alternative payment methods that provide similar functionality.
PayID has emerged as the primary successor to POLi for instant bank transfers in Australia. This service allows users to link a mobile number, email address, or ABN to their bank account, enabling real-time payments without sharing BSB and account numbers. PayID offers similar speed to POLi while being directly integrated into Australian banking infrastructure.
PayPal provides instant deposits for many merchants and offers buyer protection features that POLi did not include. While PayPal may charge fees for certain transactions, it offers broader international acceptance and supports multiple currencies.
Credit and debit card deposits remain universally accepted and provide instant transaction confirmation. Modern card processing includes strong security features such as 3D Secure authentication, though users must be comfortable sharing card details with merchants.
Traditional bank transfers continue to work for users who do not require instant confirmation. While slower than POLi, direct transfers involve no intermediary fees and work with all Australian banks.
POLi continues to operate in New Zealand, serving customers who value instant bank transfer capabilities. The service maintains partnerships with major New Zealand banks and remains accepted by numerous online casinos, betting sites, and merchants targeting Kiwi customers.
New Zealand users can continue using POLi exactly as before, with the same security features, speed, and convenience. The ongoing operation in New Zealand demonstrates the service's viability in markets where bank support and competitive dynamics remain favorable.
POLi deposit represented a significant innovation in online payment processing for Australia and New Zealand, providing millions of users with a secure, instant, and convenient way to transfer funds from their bank accounts to merchants. While the service's Australian closure in September 2023 marked the end of its domestic operations, POLi's legacy continues through its ongoing New Zealand presence and the alternative payment methods that have evolved to fill the gap.
For users who previously relied on POLi, the transition to alternatives like PayID, PayPal, and modern card processing offers comparable functionality with their own unique advantages. Understanding how POLi worked and why it succeeded helps users make informed decisions about which payment methods best suit their needs in the evolving digital payment landscape.
New Zealand users can continue to benefit from POLi's streamlined approach to online payments, while Australian users have discovered that the payment ecosystem has matured to offer multiple viable alternatives that maintain the speed, security, and convenience that made POLi popular in the first place.
No, POLi ceased operations in Australia on September 30, 2023. The service is no longer available for Australian users, who must use alternative payment methods such as PayID, PayPal, or card deposits.
Yes, POLi continues to operate in New Zealand and remains available for deposits to online casinos, betting sites, and other merchants that accept the payment method. New Zealand users can continue using POLi with supported banks.
POLi does not charge users for making payments. However, your bank may impose fees for certain types of transfers, and some merchants may add surcharges. Always check the total amount before confirming your payment.
POLi deposits are typically instant, with most transactions completing within 60 seconds. Both you and the merchant receive immediate confirmation, and funds are available for use right away.
Yes, POLi employs strong security measures including encrypted connections and never stores your banking credentials. The service acts as a secure bridge to your bank without capturing sensitive login information.
In New Zealand, POLi supports major banks including ANZ, ASB, BNZ, Kiwibank, and Westpac. The specific banks available depend on your location and the merchant's configuration.
Withdrawal availability varies by merchant. While POLi can facilitate withdrawals, not all services that accept POLi deposits offer POLi withdrawals. Check with your specific merchant for their withdrawal options.
The primary alternatives include PayID for instant bank transfers, PayPal for digital wallet payments, card deposits for universal acceptance, and direct bank transfers for fee-free transactions. Each offers different advantages depending on your needs.
POLi Payments operates as part of Australia Post, providing secure payment infrastructure for online transactions across Australia and New Zealand since 2006.
POLi became one of the most popular deposit methods for Australian betting sites and online casinos, offering instant account funding for wagering. Major bookmakers like Sportsbet and Ladbrokes accepted POLi deposits before the Australian service closure.
Services like WorldRemit and CoinSpot integrated POLi for international money transfers and cryptocurrency purchases, allowing users to fund transactions directly from their bank accounts without cards or lengthy verification processes.
POLi Payments concluded services to Australian users due to declining bank support and increased competition from alternative payment methods.
POLi continues operating in New Zealand, serving customers with instant bank transfer capabilities for online casinos and merchants.
Australian users transitioned to PayID, PayPal, and card deposits as primary alternatives following POLi closure announcement.