Does your bank offer real-time payments using PayID? Find out in this guide.
The New Payments Platform (NPP), which officially launched in February 2017, offers world-class payments infrastructure that's set to revolutionise the way Australians transact. The platform facilitates real-time, data-rich transfers between customers of different financial institutions, and allows Australians to set up a PayID to use instead of their BSB and Account Number.
More than 60 banks and credit unions partnered with the NPP on the day it launched beach in February 2017, and already offer (or are planning to offer) real-time payments to customers via PayID and Osko. Dozens of mutual banks and credit unions under Cuscal launched PayID via Osko to customers on the day the NPP was initially launched.
See a full list below of the Australian financial institutions which plan to bring customers over to the NPP and enable real-time payments via PayID and Osko, including those which have already launched the service. For a detailed guide on what a PayID is, how to set it up and how to use it, read our guide to PayID here.
| Financial institution | PayID with Osko status |
|---|---|
| ANZ | Available in Internet banking, coming to ANZ App soon |
| Australian Unity | Available now |
| Adelaide Bank | Available in coming months |
| Bank Australia | Available now |
| Bank of Melbourne | Available in coming months |
| Bank SA | Available in coming months |
| Bank First | Available now |
| Bank VIC | Available now |
| Bank of us | Available in coming months |
| Bankwest | Available in coming months |
| Beyond Bank Australia | Available now |
| BCU | Available now |
| Big Sky Building Society | Available now |
| Bendigo Bank | Available in coming months |
| Bankstown City Bank | Available now |
| CommBank | Available now |
| Citi | Available in second half of 2018 |
| The Capricornian | Available now |
| Central Murray Credit Union | Available now |
| Coastline | Available now |
| Catalyst Money | Available now |
| Community First | Available now |
| Credit Union SA | Available now |
| CUA | Available now |
| Border Bank | Available now |
| Defence Bank | Available now |
| Dnister | Available now |
| Easy Street Financial Services | Available now |
| Endeavour Mutual Bank | Available now |
| Family First Credit Union | Available in coming months |
| First Option Credit Union | Available now |
| Ford Co-operative Credit Society | Available in coming months |
| Firefighters Mutual Bank | Available now |
| Greater Bank | Available now |
| G&C Mutual Bank | Available now |
| Goulburn Murray Credit Union | Available now |
| HSBC | Will not be available in 2018 |
| Heritage Bank | Available in coming months |
| Hume Bank | Available now |
| Illawarra Credit Union | Available now |
| ING | Available now |
| imb Bank | Available now |
| LLL Bank | Available in coming months |
| The mac | Available now |
| The Mutual | Available in coming months |
| ME | No launch date announced yet |
| MOVE | Available now |
| MyState | Available now |
| NAB | Available now |
| Northern Inland Credit Union | Available now |
| Nexus Mutual | Available now |
| Newcastle Permanent | Available now |
| Orange Credit Union | Available now |
| P&N Bank | Available now |
| People's Choice Credit Union | Available now |
| Police Bank | Available now |
| Police Credit Union | Available now |
| Queensland Country Credit Union | Available in coming months |
| QBANK | Available now |
| Regional Australia Bank | Available in coming months |
| Reliance Bank | Available now |
| RACQ Bank | Available in coming months |
| Comtax Credit Union | Available now |
| SCU | Available now |
| South West Credit Union | Available now |
| SWSCU | Available in coming months |
| St.George | Available in coming months |
| The Rock | Available now |
| Teachers Mutual Bank | Available now |
| UniBank | Available now |
| Unity Bank | Available now |
| Warwick Credit Union | Available now |
| WAW Credit Union | Available now |
| Westpac | Will roll out in coming months |
PayID with Osko (developed by BPAY) will enable you to use a unique, easy-to-remember ID for your bank account to replace your BSB and account number. For example, if someone needs to send you money, you can simply give them your PayID. Your PayID will be something unique to you, like your mobile phone number or email address. When your bank has launched PayID to customers, it will invite you to register for your PayID via the Internet or mobile banking.
To learn more about the NPP and how it will benefit you, check out our comprehensive guide here.
