New Payments Platform FAQs


Do I have to use Osko® and PayID?

No. Whether you choose to set-up a PayID and use Osko is entirely up to you. You can still go about your banking as usual and all of your existing functionality will still be available. It just means you now have another faster, simpler option for making and receiving payments should you choose to use it.

However, if another person sends you money using Osko, the payment will still be processed into your account - therefore all users of online banking are required to accept the NPP terms and conditions.

Why do I have to accept new terms and conditions for NPP, Osko and PayID?

As part of our participation in the New Payments Platform, we are legally required to update our terms and conditions.

As a result, in order to access banking services through the BankVic mobile app or internet banking, you will need to accept the new terms and conditions for NPP, Osko and PayID. Unfortunately limitations of our system mean that we only place we can place these terms and conditions is on the first page, immediately after login.

If you choose not to accept these new terms and conditions for online banking you can still access our banking services via our branch network, ATMs and by calling us on 13 63 73.

Keep reading for more frequently asked questions... 

How do I create a PayID?

You can create and manage your PayIDs through

  1. the BankVic mobile app OR
  2. internet banking

When the New Payments Platform (NPP) launches you will be able to begin making and receiving payments using your PayID.

Before you get started…

  1. Register for internet banking (if you haven’t already). Register now.
  2. Download or update to the latest version of the BankVic mobile app for Apple or Android (if you wish to use the app)
Download now from the App Store Download now from the Google Play Store

How do I create my PayID through the BankVic mobile banking app?

Note: if you can’t see these, then you may need to update your app from the store.

  1. From the app home screen, select TRANSFERS
    Transfers button

  2. Select PayID
    PayID button

  3. Select ADD NEW (or tap the '+' on Android)
  4. On the Add New PayID screen:
    1. Nominate the phone number or email address you’d like to use as your PayID
    2. Choose the account you would like associated with this PayID
    3. Hit CONFIRM to finish creating your PayID
  5. Accept the Terms and Conditions
  6. Request a verification code – this will be sent to the mobile phone number or email address you’ve chosen to use as your PayID.
  7. Enter verification code in the field provided.
  8. Your new PayID has now been created!


Creating your PayID through internet banking (desktop)?

After logging into internet banking, use the top menu to navigate to:



  1. On the CREATE PAYID screen:
    1. Nominate the mobile phone number or email address you’d like to use as your PayID using the SELECT CONTACT drop-down menu
    2. Choose the bank account you would like associated with this PayID using the FINANCIAL ACCOUNT drop-down menu
    3. Hit NEXT
  2. Request a verification code – this will be sent to the mobile phone number or email address you’ve chosen to use as your PayID.
  3. Accept the terms and conditions using the checkbox provided
  4. Enter verification code in the field provided.
  5. Your new PayID has now been created!


Creating your PayID through Internet Banking (mobile)

After logging into internet banking on your mobile device through your web browser, select the MORE option from the bottom of your screen.

Mobile internet banking - more button

  1. Select the PayID button
  2. On the CREATE PAYID screen:
    1. Nominate the phone number or email address you’d like to use as your PayID using the SELECT CONTACT drop-down menu
    2. Choose the bank account you would like associated with this PayID using the FINANCIAL ACCOUNT drop-down menu
    3. Hit NEXT
  3. Request a verification code – this will be sent to the mobile phone number or email address you’ve chosen to use as your PayID.
  4. Accept the terms and conditions using the checkbox provided
  5. Enter the verification code in the field provided.
  6. Your new PayID has now been created!

What is the New Payments Platform?

The New Payments Platform (NPP) is a world class payments platform that enables Australian customers of different banks to make and receive payments in minutes.

NPP is a major industry wide initiative. Australian banks, credit unions and mutual banks will be introducing the service to their customers in early 2018.

Find out more about NPP

What is Osko® and who will be using it?

Osko® by BPAY was built to bring the capabilities of the New Payments Platform (NPP) to Australian banking customers.

Most Australians who use internet banking or access a mobile banking app on a smartphone or tablet device will have access to Osko®.

Find out more about Osko®

What is a PayID and why should I use one?

A PayID is a smart address for payments which is securely linked to a bank account. Your PayID can be an email address, Australian registered mobile number or ABN.

Your PayID will make life much easier as you won’t need to remember your BSB and account number anymore.

Once your PayID is set up, when you want somebody to transfer funds into your account you can simply give them your PayID instead of your BSB and account number.

What’s more is your PayID will work seamlessly with Osko meaning you’ll be able to receive payments in minutes rather than days!

It’s also easier to get it right when making the payment. So there’s less chance of accidentally sending money to the wrong account with PayID.

You can create, update, transfer and close your PayID through internet banking, mobile banking and the mobile app.

Who can I make PayID payments to?

You will be able to make payments to businesses for products and services, to friends and family, basically anyone who has a PayID.

For instance, if you go out with your work friends for lunch, someone can pay the bill and everyone can pay that person their amount right away using their PayID – through their participating bank.

Is PayID secure?

Yes, because a PayID is unique to each person. Your PayID is linked to your bank account through your bank.

When making a payment to a PayID through Osko in your Internet Banking or Mobile App, the name of the person who owns the PayID is shown before you approve the payment. You just need to confirm it’s the right person.

Find out more about PayID

Can I have multiple PayIDs connected to the one account?

Yes, a single bank account can have multiple PayIDs linked to it. An example of this is a couple who has a joint account and links both their PayIDs to the same account.

However, you can only link an individual PayID to one bank account Australia wide.

Are all banks participating?

Thirteen leading Australian institutions have committed funding for the creation of the new payments platform - these include the major banks. A large number of additional financial institutions will also connect to the new payments platform.

How do Osko® transactions work?

Osko® by BPAY™ is an electronic payment system, allowing transactions to be performed through Internet Banking, Mobile Banking or the BankVic App. They cannot be completed in branch or via our Automated Telephone Banking service.

Our branch and call centre team members can assist you with easy instructions to make transactions online.

Find out more about Osko®

Are there any fees associated with Osko payments?

No, there is no fee to use Osko to make payments.

However, the same fees still apply to Mistaken Internet Payments (MIPs). 

What is the daily limit for Osko transactions?

The daily limit for Osko transactions is $1,000, however the combined general daily transfer limit for Osko and Standard payments remains at $5,000.

If you have an existing increased limit, it will be unaffected by the introduction of Osko. You will be able to make up to $1,000 of near real-time payments per day using Osko and you will still be able to use the remainder of your daily limit for sending standard transfers.

If you need to make a transaction that is higher than $5,000 you can contact our call centre on 13 63 73 during business hours to discuss your options. Please note that Osko will be unavailable for any transfers over $1,000.

Can someone receive Osko payments even if they have not registered a PayID?

Yes, a person can receive an Osko payment via their BSB/Account number without the need for them to register a PayID. You also do not have to have a PayID registered to make an Osko payment.

How do I transfer my PayID from my existing bank to BankVic

You will need to transfer the PayID through your existing bank. This can be done through your bank's internet banking, mobile banking or mobile app.

You will need to put your PayID into a 'transfer' state. Once you have done this you will be able to register your PayID with BankVic.

You will have 14 days to register the PayID with BankVic. If your PayID is not registered within 14 days of it being put into a 'transfer' state, the PayID will revert back to the original bank.

When I enter a PayID to make a payment, how will I know it's going to the right person?

When you enter a PayID when making a transaction, it will confirm the name of the account linked to that PayID.

You will need to confirm prior to finalising the payment.

Can Osko payments occur on two-to-sign accounts?

Yes, members can make Osko payments from two-to-sign accounts. However this has to be done via internet banking only.

Both parties will need to be present to put both passwords into the system to confirm the payment.

Can I make Osko international payments?

No you can't make Osko international payments. Osko payments can only be made in AUD for Australian transactions. No telegraphic transfers can be done via Osko. 

If I set up an Osko future payment, when will it go out?

An Osko future payment will go out at 7am.

The difference between an Osko future payment and standard future payment is that Osko future payments will be received within minutes.

How can I view my transaction history?

You can view your transaction receipts and transaction messages by logging into internet or mobile banking.

Unfortunately you won't be able to view messages attached to Osko payments via the BankVic app however you will be able to see a list of your transactions.

Can I use Emojis in my transaction messages?

Unfortunately our banking platform does not allow emojis to be used in a message. We are however looking to include the ability to use emojis in the future.

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