We have all your FAQs about Real Time Payments.

Real Time Payments are the newest way to transfer funds within Australia. Depending on the receiving institution, funds can be available in less than 1 minute, 24 hours a day, 7 days a week.

The New Payments Platform enables real time clearing and settlement for electronic payments. It has the ability to simplify payments through an Addressing Service as well as offer the ability to include more information with payments. For more information about the New Payments Platform, please visit the New Payments Platform website.

  • Osko payments are sent and received in less than 1 minute – 24 hours a day, 7 days a week. Funds will be sent like this if the receiving institution is Osko enabled.
  • Single Credit Transfers, or SCT’s, are payments that are sent and received within a few hours. Funds will be sent like this if the receiving institution is NOT Osko enabled but IS participating in the NPP scheme.
  • Standard Transfers are sent and received within 24-48 hours. Funds will be sent like this if the receiving institution is NOT Osko enabled, and is NOT participating in the NPP scheme.

Our system will take the guess work out for you by automatically selecting the correct type of payment.

A PayID enables you to register your mobile number, email or even ABN to then give to people instead of your BSB and account details. You can register your personal PayID through online banking or The Mac app. Alternatively, you can contact our friendly team on 1300 622 278 or visit one of our branches.

Yes, a business can have a PayID registered to their account. Contact our friendly team on 1300 622 278 or visit one of our branches and we can set this up for you.

If you don’t have a mobile phone, email address, you won’t be able to register for PayID. You can still send and receive real time payments through Osko.

No, you can only link a PayID to a single account. However, you can link multiple PayID’s to the same account

Yes, you can manage your PayID through Online Banking or The Mac App. Alternatively, you can contact our friendly team on 1300 622 278 or visit one of our branches.

If you send a payment using a PayID, our system will automatically check the details on a National Addressing System and ask you to confirm who you are sending the payment to before you complete the transfer. In the event that you accidentally transfer to the wrong person, please contact our team ASAP on 1300 622 278.

No, however your online daily transaction limit will be $250.

If you are using a BSB and Account Number rather than a PayID to transfer funds, check that the details are 100% correct. Some institutions require the account number to be 8 digits long, if the account number you are transferring to only has 6 or 7 digits, try adding zero's in front so there are 8 digits. Don't include any dashes or spaces - only numbers.