A new faster, simpler, smarter way to pay.

You can now make and receive payments quicker using just an email address, mobile phone number or ABN.

Frequently asked questions

What is the New Payments Platform?


Find answers to the most frequently asked questions below. Or, if you'd like to learn more about New Payments Platform click here.

What is the New Payments Platform?

It’s a brand new payment platform that will allow Australians to transfer money from one account to another between participating financial institutions much more quickly, 24 hours a day, 7 days a week.

What if my payment is unsuccessful?

If your payment is unsuccessful it could be because the account number you have entered is incorrect. It is important that when making NPP payments, the account number must be entered as numbers only. If you use spaces or symbols within the account number the payment will be rejected.

Another reason for an unsuccessful payment is the account you are sending the payment to isn’t set up to receive fast payments yet. You could check this with the person you are transferring to simply by asking them to contact their financial institution.

Alternatively, you have the option to make the payment again using the “Standard Transfer” option in Internet Banking, which will transfer the funds within 1-3 days. If you are in the app, simply untick the “Send via Osko” or “Send via New Payments” tick box and the payment will be processed as a standard transfer.

How many bank accounts can I link to my PayID?

While the PayID can only link to one bank account at a time, accounts can have more than one PayID. A PayID can be a phone number, email address, ABN number or an ‘organisation ID’ such as a company name. For example, one bank account could have a mobile phone number as the PayID and your second bank account could have the email address as your PayID.

Do I have to register for a PayID?

No, registering for a PayID is completely optional. PayIDs are useful when you want to receive a near real-time payment using your email address, mobile number or ABN as a substitute for your BSB and account number.

Can someone create or manage a PayID on my behalf?

No, individuals’ PayIDs (mobile and email) are created and managed online via Internet Banking only, by the account holder.

Can a non-individual account holder or sole trader create a PayID?

Yes, however this cannot be done online. Please contact us to discuss this further.

How secure is the New Payments Platform?

The New Payments Platform is safe and secure as it is certified to the highest data security standards and monitored 24 hours a day, seven days a week. It also has very high security standards and capabilities that must be met by all connecting participants who are required to be regulated Authorised Deposit-taking Institutions.

Can Term Deposits receive NPP payments?

No. Term Deposits accounts are unable to receive NPP payments.

How do I set up recurring NPP payments?

Setting up a recurring NPP payment can be done in Internet Banking (this feature is coming soon to the mobile apps).

What is my daily limit for transacting in NPP?

The daily transaction limit remains at $5,000 per account no matter how you transact. Daily limits are found in the Fees and Charges brochure. Payments over $5,000 will be blocked.

If you have your daily limit increased, it will only work using the Standard Transfer option, which takes 1-3 business days.

Is there a Cut off time?

To avoid confusion regarding repayments and interest calculations, the Conditions of Use Accounts and access brochure has been updated with a defined Cut off time—5pm in NSW. This means that you’ll be required to make Credit card or loan repayments by 5pm (AEST) on the day the payment is due.

Repayments made after 5pm (AEST) will be processed the next day.