Osko® by BPAY
Osko® provided by BPAY is a service built on the New Payments Platform. It will allow members to send and receive real-time payments to or from friends, businesses and the government using a BSB and account number or a PayID linked to their bank account.
What's not to love about Osko®?
- Faster payments across over 50 institutions - and more to come
- Available all day, everyday - even weekends
- You can use a PayID to pay and get paid with something simple like a registered mobile phone number, email address or ABN. Or you can still use a BSB and account number.
- It's backed by BPAY and us, so it's very secure
- You can use 280 characters of text to describe who's getting paid and why.
How to use Osko®?
G&C Mutual Bank is excited about the introduction of the New Payments Platform (NPP) next year.
The NPP will allow G&C Mutual Bank members to transfer funds from their account via Osko® to another account (with G&C Mutual Bank or with any other Financial Institution on NPP) quicker, easier and safer.
Osko® payments are sent from your Online Banking or G&C Mutual Bank Banking App using a PayID (such as a mobile phone number, email address or ABN) instead of using BSB and Account number information. You will receive confirmation before the funds are sent that you are sending to the correct person and the funds should be received in real time – no more waiting 24-48 hours!
To make sure that you are ready to use Osko® payments when the service launches early this year, make sure you have registered for Online Banking and your mobile phone number and email address are up to date.
Frequently Asked QuestionsQ: What are the benefits of Osko® by BPAY for me?
A: The benefits of Osko® by BPAY are:
- Money is transferred in near real-time with close to immediate funds availability, even if the individuals involved use different Financial Institutions or it's on a weekend.
- You can include more data than before to more accurately describe your payments, such as a longer description.
- The service leverages the PayID, which means you don't need to disclose their BSB or Account Numbers to make and receive payments.
Q: Will I be able to request payment?
A: Osko® by BPAY will have the capability for you to make and receive requests for payment. This and the capability for you to receive payments with documents will follow the launch of Osko® Payment.
Q: How secure is Osko®?
A: Osko® by BPAY is implememted through G&C Mutual Bank's digital channels which meet all the security demands (SMS One Time Passwords) applied by us.
Q: How do I use Osko® by BPAY?
A: Osko® by BPAY is a digital service which will be offered through G&C Mutual Bank's Online and Mobile banking. This means the service will be easy to access alongside your existing banking service.
Find out more about PayIDPayID is the name of the New Payments Platform addressing service. It’s a function of the platform that allows you to link your G&C Mutual Bank accounts to easy-to-remember pieces of information such as mobile phone numbers and email addresses. Click here for information.
What to know more about Osko®?