Faster: Because it uses the
Osko sends bank transfers between participating banks and financial institutions in under a minute, 24/7 – yes, even on weekends! Goodbye waiting. Hello Osko. Osko payments are made within your online banking and backed by BPAY, so you know that it's super safe.
How will I know if it's going to be an Osko® payment when I make a payment? 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.
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.
Osko payments typically transfer in less than a few minutes. Other payments (not Osko) are generally available on the next business day. Noting that if you make the payment after business hours, it could take an extra day (depending on the other bank's processing times, too).
Osko sends transfers fast between participating banks, which is perfect for when you need to get a fast payment over to someone.
Cancelling an Osko payment
Osko payments can't be cancelled.
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®.
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® Osko® payments to participating Australian banks are received within a minute (or may take longer), anytime day or night, even on weekends.
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.
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.
To make an Osko payment to a BSB and account number, the payee needs to have an eligible Osko account at a participating financial institution. The payment cannot be future dated or recurring. If these conditions are met, Westpac Live will automatically process the payment as Osko.
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 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.
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.
Wire transfer fees generally range from $0 to about $50. The median wire transfer fee for the institutions we surveyed is $15 for incoming domestic wire transfers, $25 for outgoing domestic wire transfers, $15 for incoming international wire transfers and $45 for outgoing international wire transfers.
Most domestic transfers are processed on the same day, and international transfers are typically completed within a few days (depends on country). You need to move large amounts of money. Though limits vary based on the money transfer provider, they tend to be high.
An ACH transfer, or automated clearing house transfer, will usually take one to four business days to appear in a recipient's account. It can often take longer, an average of three to four days, because both the sending and receiving banks need time to process the request.
Search support and FAQs
To keep your information safe, we suggest only providing your BSB and account number to people you know and trust (such as family, friends or your employer etc.)
To ensure your money is safe, we may hold Osko Payments for up to 24 hours if further authentication is required.
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.
What happens if money is transferred but not received? If money is transferred but not received, the sender should contact the bank or service used to initiate the transfer to track the transaction. They can also contact the recipient's bank to inquire if the funds have been received.
The safest way to receive money from a stranger is to enquire about the money transfer service provider that they are using to send you money. Make sure that you also trust the person who's requesting the money– ensuring that they're not doing so by putting undue pressure on you to provide a monetary gift.
It's not the same as a scammer obtaining your credit card digits. No one will be able to withdraw money from your personal bank account if all they have is your account number.