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If we have a car accident or our home has been damaged, most of us will reach for the phone as soon as possible but is there a time limit on insurance claims in Australia?

What if you’re unable to make an insurance claim immediately? Will you miss out on a refund or replacement if you don’t lodge it by a certain time?

Have you heard about PayID scams? Perhaps you or a friend have fallen foul of the electronic payment system?

More than 18 million Australians have signed up to use PayID since its launch six years ago. The attraction is simple: it’s easy to use, free, and money is transferred quickly – whether you’re paying or being paid. The unique identifier (the ID part) is linked to your bank account and you only need a mobile number or email (and an ABN or CBN if you’re a business) to send and receive money.

The Australian Banking Association maintains it’s one of the most important steps customers can take to prevent scams, but the mobile-friendly service hasn’t been immune to scammers. Even the tech-savvy younger generation - least likely to be caught in other financial scams - has been caught out.

Online platforms such as Facebook Marketplace and Gumtree are popular hunting grounds for PayID scams.