Today, Hume Bank announces a new way to transact through a national New Payments Platform (NPP). This payments infrastructure has been built by the Australian banking industry and enables cash to be transferred between accounts at different financial institutions instantly.
Osko is a new real-time payments service developed by BPAY which includes more than
50 Financial Institutions. Hume customers can now pay friends, family and businesses faster across most banks, 24/7. This change allows the ability to send and receive funds within minutes, via iBank and Hume’s App.
“This is a great achievement and milestone for Hume Bank, Osko is the first product available on NPP and is the first product in Australia to use the new PayID functionality,” explained Mr. Andrew de Graaff, Hume Bank, Chief Customer Officer and Acting CEO.
These fast payments can be made via PayID to an email address or mobile number. PayID is optional and customers can continue to use their BSB and account number if that’s what they prefer.
Hume customers can create a PayID within iBank and Hume’s App:
- Choose what type of PayID to use and which account you would like it linked to
- You’ll be asked to verify that you are the owner of the information and the account
- Once this is verified Hume Bank will link them together so your PayID can act the same way as your BSB and account number does
- The next time you want someone to pay money into your account you can give them your PayID
- If you would like to register your business with a PayID, visit a Hume branch
You can share your PayID confidently, because a PayID can only be used to put money into your account – it can’t be used to take money out of your account.
Hume Bank continues to build a next generation community banking experience that combines the right technology, products and services.
“This is exciting news for our customers, the simplicity of this revolutionary new Payments Platform will ensure customers can do their banking with ease where, when and how they wish. I look forward to seeing where this exciting new offering will take us and our customers in the future,” shared Mr. de Graaff.