Have you seen Osko and its buddy, PayID?
You may have noticed Osko at the end of your bank transfer or in your transaction history. It simply means your money has been sent or received fast, no matter the time or day.
Now, say you’re selling some plants on gumtree. Or maybe some firewood through Facebook Marketplace.
You don’t need to provide all your personal account details to the buyer, you can use PayID.
You can use a BSB and Amount Number to do an Osko payment but you can also use PayID.
PayID enables payers to make payments to you using an alternative identifier- like your phone number or email address instead of your account details. So it’s more secure and we know these days, the less personal info we share, the better!
It’s also handy if you need to flick some dollars to your mate for that moment when you can’t split your dinner bill.
PayID and Osko are fast, secure and free. Osko sends bank transfers between participating banks and financial institutions, in under a minute 24/7, even on weekends.
You can set up a PayID via Internet Banking or our Smart Banking app. You don’t need to do anything else to benefit from Osko, it’s already built into our banking system.
The best part of paying to a PayID is that you can confirm that you’re paying the right person or business before you hit send.
You still need to have the right PayID details, enter them correctly and check the payee’s PayID name before you send a payment.
When you send money or receive it, it’s good to know what it’s for. If Osko is enabled on both sending and receiving accounts, you can use up to 280 characters to describe it. You can even use emojis!
Osko and PayID are all about security. Osko, for example, uses the latest encryption and security protocols to ensure that transactions are safe and secure.
PayID uses advanced security measures to prevent fraud and protect user information. By using these technologies, you can be confident that your financial information is being kept safe.
Remember to always be careful when interacting online- don’t hand over the goods until you’re 100% sure you’ve received the funds.
Watch out for unusual, urgent or pushy requests. If it doesn’t feel right, let it go!
You can read more about PayID & Osko or contact our friendly Bank of us team.
The information contained in this blog is general information only and does not take into account your personal circumstances. Before registering for PayID, please read the Bank of us Customer Terms for Creating and Using Your PayID, Account & Access Facility Conditions of Use, Bank of us Guide for Making Osko Payments, which are available at any of our Retail stores, by calling 1300 306 716 or from our website www.bankofus.com.au. Bank of us is a trading name of B&E Ltd ABN 32 087 652 088 AFSL & Australian Credit Licence 236870.
