Frequently Asked Questions

Troubleshooting and FAQs from all over the Bobbob app in one place


Can you Bobbob on Web?

  • No and right now we don’t plan to launch our app for web browsers. Why?
    1. Focus - we need to focus on delivering the best mobile experience
    2. Safety - we believe we can keep our customers as safe as possible while on their mobile.


What documents can I use for verification?

You only need one form of identity- either an Australian driver’s license (🇦🇺) or your Passport (🌍).

We know that Australia is a brilliant melting pot of cultures and we have many residents with non-Australian passports. As such, we do accept non-Australian passports, but you do need to be an Australian resident.

If you’re here for a long holiday and not resident in Australia- we cannot offer you an account right now, but please do email us so we can bring Bobbob to your home country!

Why can’t I use a Proof of age card or Medicare Card

We use Third-Party Providers to help us verify your details (so we can focus on giving you the best App experience). Our provider decides on which documents to accept, however, we can always ask for favours, especially if it’s for you.

What happens if verification fails?

A Bobbob teammate will contact you via email and ask you to:

  • Send your ID documents securely via Email, OR
  • Click a link sent either via Text or Email, which will ask you to:
    • Take a photo of your documents, and
    • Take a selfie 🤳

Why does Bobbob need my Identity Documents?

We partner with regulated investment partners to generate high yields on your money. Under Australian law, we need to verify your identity in order to open accounts for you and meet Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations. We are registered with ASIC and AUSTRAC and do what we need to do to comply with AUSTRAC’s requirements and play our part in assisting AUSTRAC to prevent, detect and respond to criminal abuse of the financial system and to protect the community from serious and organised crime.

All your personal information is encrypted and we only share it with our financial partners for identity verification purposes.

Why is Bobbob only available to Australian residents?

Good things take time... We’d like to build a solid community and focus on serving our invite-only customers within Australia for now- ensuring that they have a seamless, simple and all-round superior savings experience with Bobbob. However, we must admit that we have our eyes on other locations for the future. So watch this space, fans abroad!

If you’re in a country other than Australia and think Bobbob would be great fit- pop us an email at info@bobbob.co and we’ll see what we can do!

Why is Bobbob asking about my source of funds?

We do this for your safety. And ours. And everyone’s. Bobbob is registered as a designated service provider with AUSTRAC. Under Australian law, and more specifically Anti-Money Laundering (AML) regulations, we need to comply with AUSTRAC’s requirements and play our part in assisting AUSTRAC to prevent, detect and respond to criminal abuse of the financial system and to protect the community from serious and organised crime.

So what does this mean for me?

Well, the simple translation of this, is that bad 🦹🏼  actors lurk in the shadows and sometimes try to use financial platforms such as ours. As such, it is important that we know where you earn the money you invest with us in order to maintain safety standards of the Australian financial community.


How to deposit to Bobbob fast 💨

To resolve any issue, try the following on your next deposit:

1. Deposit using your PayID (Recommended)

This is pretty much a sure thing. If you're depositing from your own account bank account (i.e. it is in your name) then your funds should arrive pretty instantly. For more info on how to do this, click here.

📢 Note, some banks may delay your first PayID payment for 24 hours - after that - ⚡️💸

2. Deposit from a big 4 bank

Although we're not their biggest fans, depositing from an account with them usually has more success. So if your bank doesn't offer PayID, this is your next best step. (PS: All big 4 banks offer PayID)

3. Call your bank

Our least favourite option (as we're not a fan of torture) - calling your bank is next on the list. You need to ensure you're depositing from a bank account in your name (not a joint account or ABN account). If you don't know, give your bank a buzz and ask them what the name is on your account. If this doesn't work,

If you’ve tried it all and still need help, contact us from the settings page of the app by clicking the ✉️ icon.

How long do deposits take - the short answer?

  • PayID: PayID deposits to Bobbob are usually complete within 5 minutes.
  • Bank Transfer: Bank Transfers deposits to Bobbob are usually complete within 5 minutes but may take up to 3 days. For more info, see the long answer below.

How long do deposits take - the long answer?

There are 2 types of rails your deposit transaction can be made on in Australia:

  • New Payments Platform (NPP)
    • How: BSB + Account Number and PayID
    • Speed: ⚡️ (Instant, 24/7/365)
  • Direct Entry (DE)
    • How: BSB + Account Number
    • Speed: 🐌 (1-2 Business days, Weekdays only 🙄)

  • PayID: PayID deposits to Bobbob are usually near-instant because they’re guaranteed to be on the NPP. (Caveat - why usually? Some banks enforce a security feature that slows down first-time payments to new accounts, but future payments should then be alright. We then receive your PayID, Name and BSB/Account number - which allows you to withdraw from your Bobbob Account back to your bank account when you need your money back (See Withdrawals).
  • Bank Transfer: When depositing using your Bobbob BSB + Account Number, your money may travel on either the NPP or DE rails. This isn’t your choice, it all depends on your bank! Usually, the bigger banks send payments on NPP which are usually near-instant. This may suffer the same caveat as above - that darn security feature. But your future deposits should be alright! When your bank is on the DE rails your payment can take between 1 - 3 business days. (We don’t like this either). The only real quick-fix is to move banks, unfortunately. What happens next:
  • Once we receive your A$ it is converted to US$ - this should only take a few seconds for us to do, but sometimes good things take time! So please be patient if this takes a little while. Once we have your US$, your deposit will reflect in your Bobbob app, and you’ll receive an email, too.

I’ve read ‘the long answer’ and waited, but my money hasn’t arrived? Or, my deposit was refunded.

Firstly, thanks for reading the long answer, as this will help a lot here. Your deposit may be pending for a few reasons:

  1. You deposited from a bank account not in your name This could have been from a joint account, an ABN account if you’re a sole proprietor or an SMSF account. If this has happened, we will endeavour to return your funds as soon as possible, as we cannot accept deposits from accounts not in your name for security purposes.
  2. Your bank sent your deposit on the DE rails AND we couldn’t find your name The DE rails are old (and somewhat archaic) and what sometimes happens is your name isn’t sent with your deposit. So we don’t know who the deposit belongs to. If this happens, we send the money back to the bank account we received it from. What also may happen - when you make the payment, your bank doesn’t send the money from your bank account, but instead sends it from the banks own bank account. So what Bobbob sees: hundreds of customers all depositing from the same bank account. When we see this, we return the funds back to where we received it from. In this instance, you need to do 2 things:
    1. Call your bank account and query them to expedite the return of your funds, and
    2. Move to a new bank (preferably one of the big 4) and deposit using PayID


How long do withdrawals take?

  • Before we can send you A$, we first need to retrieve your US$ from our Lending Providers and convert your US$ back into A$ - this will take up to 24 hours but may take longer to perform.
  • Once we have your A$, as our Payment Provider is on the NPP (See deposits, the long answer) sending you your funds should be instant. However, if you’re bank is on the DE rails, the withdrawal may take an extra 1-2 business days.


How do referrals work (Referral Rules)?

After your invitee applies the code during sign-up, they need to fulfil 2 requirements to count as a successful referral (i.e. becoming a bonafide Bobber):

  1. Deposit the threshold amount, either in one deposit or in aggregate over time (sum of Deposits - Withdrawals).
  2. Have the aggregate threshold amount held in the Account over a month-end period.

Successful referrals will then be added to your count and each referral will help you achieve a higher tier! You should receive an email on the 1st day of the next month after you have a successful referral - this email will contain your count of successful referrals.

Your tier can be seen on the Refer page of the app.

Some important points:

  • Once a person is a successful referral, they count towards your tier count forever.
  • The aggregate threshold amount may change over time, all changes will be visible in the Refer page of the app. This will not change your historic referrals.
  • The amount of referrals needed to change tiers may change over time, all changes will be visible in the Refer page of the app. This will not change your historic referrals.
  • Your new tier applies from the first day of the new month after your invitee was a successful referral, i.e. if they deposit on 28 January, you’ll earn at a higher rate on your entire balance from 1 February.

A referral example

(Assume the Threshold Amount is A$999):

  • Alice refers Bob 😉  - Bob enters Alice’s referral code when he signs up.
  • Bob deposits A$500 on 15 March and another A$500 on 25 March.
  • On 25 March, if Bob has made no withdrawals, he has deposited an aggregate of A$1000 and has met the Threshold Amount of A$999. (If he withdrew A$2, he would not have qualified as he’d have an aggregate of A$998)
  • Bob will count as a successful referral for Alice from 25 March.
  • Alice’s rate changes from 4% to 5% on 25 March and from that night she will earn that rate on her balance.