IMB Bank National Payments Platform (NPP)
The New Payments Platform (NPP) is a major industry initiative to develop new Infrastructure for Australian payments. The NPP will allow our members to make or receive, faster, simpler and smarter payments in real-time.
Australians will soon see products and services of the NPP rolled out by participating financial institutions in different ways. One of the first uses of the NPP will support the ability to transfer funds to another bank almost immediately and generally within 15 seconds.
There are three key benefits
- Fast: the ability to make payments in real time, with close to immediate funds available to the recipient
- Convenient: the ability to make and receive payments regardless of the day or time.
- Simple: will allow members to more easily address payments to recipients or continue using a BSB and account number
The NPP is due to launch in early 2018 and IMB Bank members could expect regular updates as the project progresses. To ensure you receive updates, update your member contact details and register for Internet Banking and the IMB Bank Mobile App. This will help make the transition to the NPP as seamless as possible.