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.
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.
What is an Osko® payment? Osko by BPAY® is a secure payment service which enables you to send and receive near real-time payments on the New Payments Platform. The service is available within the CommBank app. You won't need to look for Osko®, as you'll automatically be using the service when it is available.
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 is available to customers in Australia and New Zealand. Important: Australian customers can pay us via OSKO using the BSB and Account Numbers provided in their contract note. We cannot currently accept PayID payments in this region.
Can I make international payments using OSKO® and a PayID? No, Osko® and a PayID are restricted to Australian payments. However, you can process international payments via internet banking.
Can I make international payments with Osko®? No, Osko is only available for AUD transactions within Australia.
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 to participating Australian banks are received within a minute (or may take longer), anytime day or night, even on weekends.
Osko is a fee-free payment service that banks use to process payments faster. As in, within a few minutes.
You'll know it will be a fast payment when paying a BSB and account number as Osko or the Osko logo will appear on the Review page in Internet Banking.
Osko by BPAYTM is a near real-time payment. The service is built on the New Payments Platform and enables fast payments to a PayID or an eligible BSB and account number. You will see the transaction appear as Osko or the Osko logo (see below) when you make or receive an Osko Payment.
With Osko Payments funds are available in under 60 seconds and if you provide 280 characters of description text, the receiving party will see the full description. You can make an Osko payment to a BSB and Account number or a PayID, but both payer and payee accounts need to be enabled for Osko payments.
To other banks in Australia
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 is a payment service that uses the NPP. With Osko you can pay someone at another financial institution immediately, any time of day or week. You can access Osko from within your internet and mobile banking. Your bank, building society or credit union can tell you if they offer Osko.
Transfers to another financial institution using Fast Payments (Osko) Make a Fast Payment using someone's BSB and account number, or their Pay ID (email, mobile phone number) if they've registered for Pay ID. Completed in under 60 seconds. No cut-off times.
How do I make an Osko payment to a PayID? 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 is owned and operated by BPAY, and operates on the NPP as an overlay service.
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.
PayID and Osko payments are made through the existing payment platforms of participating banks. This means that the same level of security that protects your payments to BSB and account numbers applies to payments made using Osko and PayID.
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.
International wire transfers are normally made using an international standard known as the SWIFT network. This financial institution allows money to travel in between banks internationally. It assigns every bank a unique identifier code to ensure the transfer always gets to the intended recipient.
An international bank transfer is when you send money from your account in one country to a bank account in a different country. It is the same thing as an international money transfer. In short, you can either use a bank or a money transfer company.