FULL LIST: Financial institutions partnering with the New Payments Platform
Is your bank planning to offer real-time payments using PayID? Find out below.
The New Payments Platform (NPP) has officially launched today following months of speculation over its planned launch date. The world-class payments infrastructure is set to revolutionise the way Australians transact, facilitating real-time, data-rich transfers between customers of different financial institutions.
More than 60 banks and credit unions have already partnered with the NPP and are planning to offer real-time payments to customers via PayID and Osko. CommBank was the first major financial institution to offer the service to customers from today, with Westpac and NAB both confirming they will be staging the roll-out in the coming weeks. ANZ has confirmed it is still undergoing testing and has not confirmed when it will offer the service to customers, but it will also likely be in the coming weeks. Dozens of mutual banks and credit unions under Cuscal also launched PayID via Osko to customers today.
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 in the coming months, including which have already launched the service.
| Financial institution | PayID with Osko status |
|---|---|
| ANZ | Currently in testing, coming 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 |
| Customs 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 weeks |
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.
