Welcome to super fast real time payments through The Rock

It's here! A faster, simpler and smarter way to send and receive money is now available through The Rock.

Faster

Make and receive payments in seconds, 24/7 (across different banks).

Simpler

With PayID, you can make and receive payments using a mobile number or email address.

Smarter

Confirm who you are sending money to, and describe what it’s for with up to 280 characters.

Register your PayID today

With PayID, you can make and receive payments using a mobile number or email address. To receive money using a PayID you can register now by logging in to internet or mobile banking and going to PayID under the Manage menu.

What are real time payments

The introduction of the New Payments Platform (NPP) in Australia means that you are now able to send and receive money in real time. So instead of waiting days for your money to arrive, transfers will soon take just seconds.

What is the New Payments Platform (NPP)?

The NPP is new infrastructure that enables you to pay and receive money in real time between different banks. In addition to real time payments, the NPP lets you add more information about your payments and introduces PayID.

What is a PayID?

A PayID is something easy to remember such as a mobile phone number, an email address or an ABN, that you can securely link to your bank account. If you have PayID set up on your account, you won't need to hand over your BSB and account number to get paid. Simply give them your PayID and the payment can be in your account in seconds. It's not only easier to remember, it reduces the risk of errors.

To receive money using a mobile number or email address you can register your PayID now by logging in to internet or mobile banking and going to PayID under the Manage menu.

What is Osko?

The NPP is the platform that enables real time payments across different banks in Australia. BPAY delivered Osko, the first ‘overlay service’ for NPP that enables transfers to be sent and received in under 60 seconds. While you may hear lots about Osko, you don't actually have to do anything different to use it. It's been built right into your your existing Rock mobile and internet banking transfers.

When did the platform launch?

NPP launched on 13 February 2018. The Rock was among the first to launch NPP and Osko to customers.

Registration

You don’t need to do anything to register for the NPP or Osko. It's built right into your existing Rock mobile and internet banking platform, enabling your external transfers to be sent and received in under 60 seconds. However, if you want to receive money easily via your mobile number, email address or ABN, you'll need to register for a PayID.

How do I register a PayID?

You can easily link your account to a mobile phone number or email address (register your PayID) from within The Rock's mobile and internet banking. You can then provide this PayID to friends, family or businesses and get your money quickly and easily.

To receive money using a mobile number or email address you can register your PayID now by logging in to internet or mobile banking and going to PayID under the Manage menu.

Making and receiving payments

Real time payments are built in to your existing Rock mobile and internet banking platforms. You can either continue to use a BSB and account number to pay or be paid money, or use a 'PayID' in the form of a a mobile number, email or ABN.

How do I make a real time payment?

To make a payment just log in and go to your existing mobile and internet banking external transfers screen. The main change you will notice is the new ‘payment type’, which has the traditional BSB/Account option as well as mobile number, email address and ABN. If you have been provided with a mobile number, email address or ABN you just need to select this and fill in the details to make your payment through the NPP. If the receiving bank supports Osko it will be processed within 60 seconds, if not it may take a little longer as a Standard NPP Transfer.

You can continue to transfer funds using BSB and account numbers, however we will need to check whether the receiving bank supports NPP and Osko. If Osko is available this will be your default option, processing the funds within 60 seconds. If NPP is supported but not Osko it may take a little longer as a Standard NPP Transfer.

When making a transfer using BSB and account numbers you may still choose to ‘Process transfer as a Standard External Transfer’ - you may wish to attempt this if you are exceeding your daily NPP/Osko transfer limit. A Standard External Transfer is the traditional transfer type, supporting only BSB and account numbers. The timeframe for delivery is dependant on processing by both the sending and receiving institutions.

If your account has SMS security enabled, you will be able to transfer up to $2,500 a day on NPP. Please note that for any transfers over $1,000, you will need to enter an SMS security code. If you do not have SMS security enabled, you will only be able to transfer $100 at a time, up to a daily maximum of $1,000.

How do I receive a real time payment?

The Rock was among the first to support real time payments when it launched and we automatically activated it on accounts that you could receive funds into.

To receive payments via a mobile phone number, email address or ABN you will need to register your PayID. You can then provide this PayID to friends, family or businesses to get your money quickly and easily.

To receive money using a mobile number or email address you can register your PayID now by logging in to internet or mobile banking and going to PayID under the Manage menu.

For more detailed information on the New Payments Platform please check out the official NPPA FAQs page.

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Any advice on this website does not take into account your personal objectives, financial situation or needs and you should consider whether it is appropriate for you. Please read our disclosure documentation before acquiring any product. Loan applications are subject to The Rock's credit approval criteria. Terms and Conditions, Fees and Charges apply, and are subject to change.

The Rock - A division of MyState Bank Limited (MyState) ABN 89 067 729 195 AFSL 240896 Australian Credit Licence Number 240896 A wholly owned subsidiary of MyState Limited ABN 26 133 623 962.