Real time payments are coming to you

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Real time payments are coming to you

We’re putting the finishing touches on our Internet Banking and Mobile App for this great new service, ensuring that your Osko® Payment experience is seamless and secure.   

We’ll be in touch in the near future to let you know when you can start using Osko payments.

In the meantime, if you haven’t already, login to Internet Banking and ensure that your email address and mobile phone number is correct.

What are real time payments?

Currently when you transfer funds to a friend or business whose account is with a different financial institution, it can take one to three days for the money to appear in their account.

With real time payments, you’ll be able to complete the funds transfer in seconds, no matter what time of day or night it is – provided their financial institution is on board with the New Payments Platform.

What if someone wants to pay you?

Once you register your PayID (which could be your mobile number or email address) with us, you can simply give someone this PayID and they can pay you.

® Osko and logo is a registered trademark of BPAY Pty Ltd ABN 69 079 137 518.

Be ready from day one

  1. Register for Internet Banking
    If you haven't already, register for Internet Banking at imb.com.au/internetbanking, call into your local branch or call us on 133 462, 8am-8pm Monday - Friday.
  2. Update your details
    Ensure your mobile number and email address are correct - login to Internet Banking to check and update your details.

How does it work?
 

Making a payment

Login

Log in to IMB Internet Banking to make real time payments

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Enter PayID

Pay someone using their registered PayID - this could be a mobile number or email address. 

Visit payid.com.au for more

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Write a message

You’ll be able to include up to 280 characters (including emojis!) in your description. 

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Pay securely

Real time payments will be processed securely in seconds through Osko by BPAY™.

Visit osko.com.au for more

Receiving a payment

Provide your PayID

Once you have registered your Pay ID (this could be your mobile number or email address) with us, you can simply give this PayID to someone to receive real time payments

What difference will it make?


For customers

It will make it easier to flick cash to friends, split a dinner bill at the table or pay a tradie fast.

 

For businesses

It will mean bill payments can be received sooner. It can also speed up wage payments to staff and improve overall cashflow.
 


Why you'll love real time payments

It's fast

Funds will show up in the other person’s bank account within seconds

It's convenient

Available 24/7, even on public holidays

It's easy

Use a registered PayID

It's secure

Osko by BPAY, so you know it can be trusted

Stay tuned for more information about real time payments.

Stay safe. See video for tips on how to spot scams.

Video Source: New Payments Platform Australia, 2018


Frequently Asked Questions

  What are real time payments?

Currently when you transfer funds to a friend or business whose account is with a different financial institution, it can take one to three days for the money to appear in their account. This will soon be changing and from early 2018 you will be able to send or receive real time payments within seconds. 

  What is Osko?

Osko by BPAYTM is a new service that makes real time payments between different financial institutions possible. You will soon be able to access Osko through IMB’s Internet Banking or Mobile Banking App to make a real time payment. Payments can be made 24x7 and even on weekends and public holidays. IMB will be one of the first banks offering this great new service.

  What is PayID?
PayID links information like your email or mobile number to your bank account. This information then becomes your registered PayID. So, once you have registered your mobile number or email address as your PayID with us, you can simply provide this to people to allow them to pay you without giving out your BSB and Account number details. You will generally receive the money within seconds. 
  What are the benefits of PayID?
  • Greater peace of mind as you no longer have to provide your sensitive financial account information, such as BSB and account number, to receive payments.
  • Greater convenience as you can provide payers with details you can easily remember, such as an email address or phone number.
  • Ability to change the account details without needing to inform payers of the change
  • Less chance of making a payment to the wrong person
  What do I need to do?
  • Get ready now. To make real time payments or to register your PayID with IMB, you will need to be registered for IMB Internet Banking.
  • Make sure your mobile phone number and email address are correct. You can check and update these details in Internet Banking.
  • If you are not registered for Internet Banking, you can register here, call into your local IMB or call us on 133 462, 8am-8pm Monday-Friday.

 

IMB Ltd trading as IMB Bank. ABN 92 087 651 974. AFSL/Australian Credit Licence 237 391.