BSB 805 050

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BSB 805 050

Fast Payments

Welcome to a new era in everyday banking.

People’s Choice is participating in an industry wide initiative introducing the New Payments Platform or NPP – the exciting and fast way to send and receive money. As a People’s Choice member you can send and receive Fast Payments between participating financial institutions and create your PayID. 

What does this mean?

Using BSB & Account Number or PayID, you can send payments in minutes. Free and Fast. 24 hours a day, 7 days a week, 365 days a year.

Previously, it could take up to 72 hours to transfer money between financial institutions. The introduction of Fast Payments means that transfers between participating financial institutions will be processed and received in minutes.

How will it work?


Osko will facilitate the Fast Payments made between accounts at different financial institutions that have joined the platform.


The introduction of Fast Payments will also allow you to make and receive payments using a PayID. A PayID makes sending and receiving payments easy and convenient as it links your account to easy to remember information. People’s Choice will offer PayIDs linked to your mobile number or email address. 

Your accounts will still have a BSB and Account Number, but you will be able to provide your PayID to receive payments without disclosing your BSB and Account Number. You can also send money to others using their PayID.

You can now create your PayID securely through Internet Banking and the Mobile Banking App.

Benefits of NPP


You’ll no longer have to worry about wait times, weekends or business hours. Your payments will be delivered in minutes. Fast and Free. 24 hours a day, 7 days a week, 365 days a year. The introduction of PayID will also make sending and receiving payments easier and more convenient using a mobile number or email address instead of spending time looking up BSB and Account Number.


Your Fast Payments will be delivered securely, while capturing the detailed records of your transaction. Fast Payments also brings the added security of PayID. You’ll be able to see the PayID name, showing who you’re paying before you confirm the payment. 


Not only will your payments be fast, you’ll also be able to input a detailed description of your payment with up to 280 characters.

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