Osko allows you to make hassle-free online payments that’s almost immediate.
Transfer money to businesses or individuals within seconds, even if their banking with another financial institution.
PayID is a memorable piece of information like your mobile number or email that can be linked to your bank account. Once set up, you can provide your PayID details to receive payments instead of handing out your BSB or account number. You can also make payments to other people using PayID if they have it set up for their own account. It’s part of the New Payments Platform, letting you send and receive payments within seconds.
PayID enables you to make secure transfers quickly and easily. It only takes a few minutes to set up and is much easier to remember than your account details. You can also set up multiple PayIDs if you have more than one account.
Both services are available 24/7 via the app or internet banking.
What makes PayID secure? Using PayID comes with several security perks. Along with being able to verify the name of the recipient, it also reduces the chances of sending money to the wrong account. We’ll send a verification code each time a new PayID is set up and run security checks the first time a transfer is made to a new payee. How do I set up PayID? Start by downloading our app or register for internet banking to get set up.
App:
1. Log on and select Profile
2. Choose PayID® from the options
3. Select the Add new option and enter your details
4.Select Continue and we’ll send a code to verify your details.
Internet banking:
1. Log on Navigate to
2. Settings > Update my details > Manage my PayID
3. Click the Add new option and enter your details
4. Select Continue and we’ll send a code to verify your details.
A PayID is a unique identifier that can be linked to a bank account. This makes it simple to send and receive money without needing to share a BSB and account number. A PayID can be a:
Payments made to a PayID will be deposited into the linked account.
There are a number of benefits to using PayID, including:
There are strict rules that must be followed when a PayID is created. Newcastle Permanent will follow strict identification steps (like those already in place in the industry) to ensure the user has a right to use that PayID as well as the bank account it is being linked to.
A PayID cannot be used to take money out of an account. It can only be used to receive payments.
1. Log on and select the account your PayID® is linked to
2. Tap on Details
3. Select the Manage PayID button at the bottom of the screen and follow the prompts.
1. Log on
2. Navigate to Settings > Update my details > Manage my PayID
3. Click the three dots and select Edit
4. Choose a new account from the drop down options
5. Select Continue we’ll send a code to verify your details.
4. Click the three dots and select Delete
5. Review and confirm the PayID details you want to delete.
Osko by BPAY is an innovative payment service which allows you to make and receive payments faster, 24/7 via any participating financial institution. Rather than waiting hours or days for money from someone who happens to use a different bank, your money can now be moved in near real-time with close to immediate availability of funds. Osko could be used when paying at a group dinner, socialising, or even paying a tradesperson on the spot. Osko enables payments to each other more conveniently than ever before.
Osko is a complementary service to BPAY and BPAY View, providing new and alternative ways to send and receive payments Australia-wide.
BPAY is the easiest way to make bill payments, packed with smart features to make it less complicated – like bill scheduling, auto payments, and Batch Payments.
BPAY View makes it easy to manage your bills and statements so that you can view, pay and store bills securely by getting them sent straight to your internet banking.
Osko uses world-leading technology certified to the highest data security standards and monitored 24 hours a day, seven days a week. All payments made on the platform are also subject to participating financial institutions’ own real-time fraud screening and detection capabilities. As always, consumers should remain alert to the possibility of cons and scams particularly if they receive unexpected requests via social media, emails or SMS for urgent payments or account information.
As long as you are registered for internet banking you will be able to select the option to make an Osko payment either through internet banking or the app. If your account is currently able to receive an incoming payment it will also be ready to receive an Osko payment, no additional registration is required.
Download our award-winning app and discover all that your account has to offer.
Download your Everyday Banking Account Guide for more details.
Terms and conditions apply for internet banking and the banking app.
©Newcastle Permanent, part of Newcastle Greater Mutual Group Ltd ACN 087 651 992 Australian Financial Services Licence/Australian credit licence 238273 General Advice Warning: Any general advice on this website (including via webchat) has been prepared without taking into account your objectives, financial situation or needs. Therefore, before acting on the advice, you should consider its appropriateness (having regard to your personal circumstances). Before deciding to acquire a financial product from us, you should also consider the relevant Terms and Conditions or Product Disclosure Statement.
