Bank Australia is connected to New Payments Platform (NPP), helping make payments you send and receive in Australia faster and easier to do. This digital platform is the foundation for payment services like Osko and PayID - the result of a banking industry collaboration to improve payment services.

Fast: Make payments in near real-time 24/7, with funds being available almost instantly to the payee. To make the most of this service, create and link a PayID to your eligible bank account but you can of course still use your account name, number and BSB.

Simple: If you have a PayID, get paid or send money to someone without having to remember BSB or account details even if they bank with another bank.

Secure: NPP payments are subject to the Bank Australia’s current real-time fraud screening and detection capabilities.

Specific: Keep track of each payment with two unique reference fields that the sender can input and receiver can see - a detailed ‘Description’ (280 characters of text – use it to explain what the payment is for) and an ‘End to End ID’ (a short reference text – use it to share an invoice or receipt number for your records).

To find out more about the NPP platform, visit https://nppa.com.au/ .

Osko provides a faster way to get paid.

Simply give your PayID to someone so they can transfer money to you - the money is transferred within minutes with Osko.  

It’s a great way for friends to pay you back quickly, for example if you cover the bill at lunch and need to receive a payment from a friend. When you receive a payment, you’ll see who’s sent you the money and their accompanying message.

If you don’t want to use a PayID, you can still use BSB 313 140 and your account number to receive Osko payments.

PayID provides a simpler way to get paid.

With a PayID you can forget your BSB and account number. Your PayID could simply be your mobile number, email address or ABN/ACN, making it easy to remember.

Simply link a PayID to your account when you register via internet banking or mobile banking.

If you need to pay someone who has also registered for PayID, you’ll only need their PayID e.g. mobile phone number, to transfer money directly into their bank account. 

They are two unique reference fields that the sender can input and receiver can see, to help you keep track of what each transfer is for: a detailed ‘Description’ (280 characters of text – use it to explain what the payment is for) and an ‘End to End ID’ (a short reference field – use it to share an invoice or receipt number for your records).

Not all payments. The payment needs to be between participating financial institutions (there are around 50 and growing). BPay and other scheduled payments from your accounts will not be sent via Osko.

If you are a business using internet banking for batch payments, the payments will not be transmitted via Osko.