Nothing. Osko Payments can currently be made free of charge through our online banking.
If your account has SMS security enabled, you will be able to transfer up to $2,500 a day on NPP/OSKO. Please note that for any transfers over $1,000, you will need to enter an SMS security code. If you do not have SMS security enabled, you will only be able to transfer $100 at a time, up to a daily maximum of $1,000.
As part of our ongoing commitment to protect our Member's funds from fraud, from 3 March 2021, we will be reducing the daily limit for payments via Osko® to $1,000 per account per day.
Faster: Because it uses the NPP, Osko works faster than a regular bank transfer that can take days and may not even be available on weekends. Osko is available 24/7 and usually transfers your money in under a minute. It's even working on bringing down those transfer times to be as instantaneous as possible.
Which banks are using Osko? As expected, the big-four banks - NAB, CommBank, ANZ, and Westpac all use Osko. Unfortunately, if you bank with the likes of Adelaide Bank, Heritage Bank, HSBC, RACQ Bank, and RaboBank, Osko is not available.
When paying to a BSB and Account number and PayID, you'll know it will be an Osko payment as the 'Payment method' will be Osko or the Osko logo will appear on the Payment review page in Online Banking.
On a desktop, sign in and select Payments > Make a payment > Payees > Pay new payee > Select the PayID type from the 'I want to pay' drop down menu. On a mobile, select Pay > Choose A Payee > Add > New PayID/Mobile payee. Enter in their PayID details.
Osko® Osko® payments to participating Australian banks are received within a minute (or may take longer), anytime day or night, even on weekends.
With Osko, you don't need to do a thing. Osko payments are made within your online banking, typically built into the 'Pay Anyone' section. If you see Osko at the end of your next bank transfer or in your transaction history, you'll know your money has been sent or received fast, no matter the time or day!
Osko sends bank transfers between participating banks and financial institutions in under a minute, 24/7 – yes, even on weekends! Goodbye waiting.
There are currently no fees associated with the use of PayID or Osko Payments in Westpac Live Online Banking.
Osko is owned and operated by BPAY, and operates on the NPP as an overlay service. It uses PayID as a reference for payments. Payments are instant to accounts that have been transferred to previously.
Osko Payments are secure and will undergo extra transaction monitoring by our fraud detection system. To ensure your money is safe, we may hold Osko Payments for up to 24 hours if further authentication is required.
Osko payments and payments to PayIDs are made through Westpac Online Banking and are subject to Westpac's own real-time, fraud screening and detection and are covered by the Online Banking Security Guarantee.
12 October 2022 - 9:00pm AEDT - Osko and PayID outage
We are aware of and currently investigating issues affecting Osko and PayID payments. You may experience delays making instant payments or receive an error message when making a payment.
The BSB or account number used may be incorrect. The payee's account or financial institution may not accept Osko Payments. The PayID may be incorrect. There may be an issue with the system.
Pay Anyone offers simple payments to BSB and account numbers. Osko allows you to send and receive money almost instantly between financial institutions 24/7. Both Pay Anyone and Osko are available via Bendigo e-banking. Business customers looking for options to make single transaction payments.
Osko provides the option to use a PayID to make a payment instead of a BSB/Account number. A PayID is a smart address for Osko payments. It links someone's bank account to a recognisable and memorable piece of information the person uses in everyday life – such as their phone number or email address.
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.
What is an Osko® payment? When you send or receive a payment you may see the Osko® logo in your payment confirmation or account transaction history. This indicates that the payment was sent via the New Payments Platform (NPP) infrastructure using Osko®.
Osko Payments are an additional service to BPAY. Osko provides a faster way to pay. It is essentially a person-to-person payment service. BPAY Payments is a consumer-to-organisation bill payment service.
1. Wire transfers. A wire transfer is one of the fastest ways to transfer money electronically from one person to another through a bank or a nonbank provider such as Wise, formerly TransferWise.
Osko payments can't be cancelled.
Osko will send transfers in less than a minute, 24/7. A benefit of paying to a PayID is that the payee's name will be displayed once you enter the PayID, so you can confirm that your payment will go to the right person or business.
Security check: Identification inspections, as well as various other security measures (e.g. AML), may cause deposit delays. Account not held in your name: Osko Payments must be made from an account held in your own name. Credit card payments, or payments from accounts in different names will not be processed.