PayID - the new way to pay and get paid fast.
Make and receive payments typically in a few seconds using a PayID.
PayID and Osko® - How does it work?
Osko payments have been added to Internet banking, allowing you to make and receive fast payments to a BSB and account number between eligible accounts at different banks. Payments will typically be received in a few seconds but may take longer, 24/7, even on weekends and public holidays. You'll also be able to enter a longer payment description. The good thing is you don’t need to do anything different.
You'll see the transaction appear as Osko in Online Banking when you make or receive an Osko payment.
Soon, you'll also be able to create a PayID using your mobile number to receive payments to it.
Your family and friends already have your mobile number and that's all they'll need to be able to pay you. They can still use your BSB and account number but using your PayID will be simpler.
You'll also be able to pay friends, family and businesses to their registered PayID:
- Mobile number
- Email address
- Phone number
- ABN (which includes ACN, ARBN and ARSN)
- Organisation ID.
What does this mean for you?
Make a payment in near real-time – in most cases only a few seconds – 24/7, even on weekends and public holidays, between eligible accounts at participating financial institutions.
Fast Osko® payments can be made to a PayID or a BSB and account number.
Simpler for people to pay you
A PayID is an easy way to communicate your account details to other people, by providing your mobile number.
Smarter payment information
Include more information (up to 280 characters) in your payment description.
What do I need to do?
Check that the mobile number we have on record for you is current.
How to get ready
Keep an eye out for a message in Internet Banking or the Mobile Banking app inviting you to set up your mobile number as a PayID.
What is an Osko, near real-time payment?
Osko is the overlay service developed by BPAY® that allows these fast payments to be made, typically in less than a few seconds, between eligible accounts at participating financial institutions, 24/7 – even on weekends and public holidays.
All payments to a PayID will occur in near real-time. Payments to a BSB and account number will only occur in near real-time if both parties have eligible accounts. You will see the transaction appear as Osko in Online Banking when you make or receive an Osko payment.
Frequently Asked Questions
Osko is the overlay service developed by BPAY® that allows fast payments to be made.
Both the sending and receiving bank accounts must be enabled for faster Osko payments. Fast Osko payments will not be available on some STG accounts (including credit accounts), to offshore bank accounts or for transfers in a foreign currency.
Payments may take longer in some instances, such as where there is a technical interruption to the service, there is a payment to a first time payee or when the payment is caught for additional security screening.
BPAY & Osko® are registered trademarks of BPAY Pty Ltd ABN 69 079 137 518.
© Bank of Melbourne - A Division of Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714