POLi forex brokers – list of brokers accepting POLi

Broker Country Rating Min. Deposit Website
UK, Cyprus, Australia4.98/5$5Click for a special offerWebsite
US4.95/5$50Click for a special offerWebsite
Australia4.90/5$100Click for a special offerWebsite
UK, Australia4.85/5$50Click for a special offerWebsite

POLi is an online payments system, developed by POLi Payments Pty Ltd, a Melbourne based company, formerly known as Centricom and currently owned by SecurePay Holdings, a fully owned subsidiary of Australia Post.

For the time being the services of POLi Payments are available only in Australia and New Zealand through a number of local banks, including ANZ, Bank of Melbourne, BOQ, BankSA, Bankwest, Bendigo Bank, Citibank, Commonwealth Bank, CUA , IMB Building Society, ME Bank, NAB, Newcastle Permanent, People’s Choice Credit Union, St. George Bank, Suncorp, Westpac, ASB, Bank of New Zealand , Kiwibank and TSB Bank.

POLi has two features that distinguish it from other online payment services – as a customer you do not have to pay a fee for using POLi, and also you do not have to have a registration in order to use the services. The only requirement is that you have an account with one of the banks POLi is working with.

We should note as well that POLi Payments is granted an exemption from the Australian Securities and Investments Commission (ASIC) for the requirement to hold a financial services license.

Basically POLi is a good alternative for people, who do not want to use credit or debit cards for online payments. Otherwise, when the payment is confirmed both the merchant and customer receive a completed payment notification.

Here we should note as well, that although POLi Payments stresses that security is their highest priority, some concerns remain about exposing the client’s banking details to POLi, as well as who bears the responsibility in case of a fraudulent transaction.

ASB Bank – a leading New Zealand bank has issued a warning to its customers, saying that POLi is “spoofing/mirroring” their online banking pages and capturing customer information and “due to the serious security and fraud risks” ASB Bank recommends that customers rather not use the POLi service

ANZ New Zealand, Bank of New Zealand, Kiwibank, Commonwealth Bank, Westpac, Bank of Queensland, Bank Australia and Police Bank have also warned their clients against using POLi, while ANZ and Kiwibank have stated that the use of POLi invalidates their online guarantees, making the client liable for any losses if their online banking account is compromised.

Have in mind as well that unlike payments via credit cards, payments made via POLi can not be reversed by the bank.

 

POLi Brokers

Broker Country Rating Min. Deposit Website
Australia4.90/5$100Click for a special offerWebsite
Australia3/5$500Read the review