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Real Time Payments are here

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Hot on the heels of being the first Australian bank to introduce authenticated in-app messaging, we bring you another exciting development. Banking as you know it, has changed forever – no more waiting days for a transfer from another bank to hit your account!

We’ve introduced real time payments, so you can transfer and receive funds in a matter of seconds.

What’s all the fuss about? Well, previously when transferring money to a friend or a business with an account at another financial institution you were looking at one to three days for the money to be available. Same goes for money coming into your account from another institution.

Well – you don’t have to wait anymore. You can transfer and receive funds within seconds – day or night, thanks to Osko by BPAY™, a new service that makes real time payments between financial institutions possible.

The best bit? No more remembering BSB and account numbers. Instead, you can register your mobile number or email address and use this as your ‘registered PayID’. Then, all you need to do is provide someone with your registered PayID and they will be able to make payments to your account in seconds. And, it works both ways, if someone provides you their registered PayID you can make real time payments to them. 24/7. Including public holidays. And, you can write a detailed payment description up to 280 characters long and even include emojis!

So whether you’re splitting a bill at dinner, sending money to a friend or dealing with someone you don’t know, transferring money is now a whole lot easier. And if you’re a business, you can look forward to receiving payments sooner.

If changes in banking technology like this sometimes makes you nervous, you can rest assured. Payments are processed securely via IMB’s Internet Banking or Mobile App using Osko by BPAY™, so you know it can be trusted. Read more about Osko and your PayID here.

So, it’s fast, it’s convenient, it’s easy and it’s secure. What’s not to love?

To make real time payments, register your PayID with us through Internet Banking or the Mobile App. Don’t forget to ensure your contact details such as your mobile number and email address are up to date.

If you’re not registered for Internet Banking, you can do that here, or call into your nearest branch.


5 March 2017