The Bank of Melbourne has fully integrated with the New Payments Platform (NPP) to offer customers the convenience of PayID and Osko. These digital payment solutions eliminate the need to memorize complex BSB and account numbers, allowing you to send and receive funds using a simple, memorable identifier, such as a registered mobile number or email address, and in some cases an ABN for businesses.
By utilizing the Osko network, your transfers are processed in near real-time, 24 hours a day, 7 days a week, including weekends and public holidays. Whether you are splitting a restaurant bill with friends or paying a local tradesperson, setting up and using PayID through your digital banking portals is a secure and seamless way to manage your daily transactions.
PayID & Osko Payment Details
| Category | Details |
|---|---|
| Access Platforms | Available via the Bank of Melbourne Mobile App and desktop Internet Banking. |
| Eligible PayID Types | Mobile Number, Email Address, ABN, ACN, or Organisation ID. |
| Processing Speed | Near real-time (typically within 60 seconds) for eligible bank accounts. |
| Payment Limitations | Osko payments cannot be future-dated, recurring, or used for international transfers. |
Step-by-Step Algorithm: How to Make a PayID Payment
Follow this exact sequence to initiate a fast Osko transfer to a new PayID using the official digital banking platforms:
- Step 1: Log On – Open your Bank of Melbourne App or navigate to desktop Internet Banking and authenticate using your secure PIN or biometrics.
- Step 2: Navigate to Payments – In the mobile app, tap Transfer & pay. On a desktop computer, select Transfers, Payments and BPAY.
- Step 3: Select PayID – Choose the PayID payment option, then select Pay someone and choose PayID as the payment method..
- Step 4: Enter Identifier – Select the specific identifier type (e.g., Email or Mobile Number) and input the recipient's exact contact details.
- Step 5: Verify the Payee Name – The system will instantly resolve the PayID and display the registered payee's legal name on screen. Verify this matches your intended recipient exactly before proceeding.
- Step 6: Confirm and Submit – Enter your payment amount and a brief description. Review the transaction to ensure the Osko logo is visible, then click the Submit payment button.
Pro-Tip: Always double-check the registered PayID name displayed on the confirmation screen. Once an Osko payment is submitted, the funds are deposited almost instantly and the transaction cannot be reversed or canceled from your end.
Troubleshooting Common Pain Points
- MFA Delays on First Payments: When transferring money to a new PayID for the first time, the bank often requires a Security Code via SMS to authorize the payee. If this code is delayed due to cellular reception issues, do not rapid-fire request new codes. Instead, use the Bank of Melbourne App's built-in secure token feature to authenticate the payment without relying on a mobile network signal.
- Browser Errors on Submission: If the payment review screen freezes or the Osko logo fails to load while using desktop Internet Banking, a cached script error is likely occurring. Clear your browser cache and cookies, or simply complete the urgent transfer via the mobile app, which is often more stable during network fluctuations.
- Locked ID During Transfer: Entering your secure banking password incorrectly too many times while trying to approve a transfer will lock your digital profile. To prevent your funds from being stranded during an important payment, use the Forgot Password function online to reset your credentials securely, or call 13 22 66 for an immediate manual unlock.
Our Top Efficiency Hack
To receive money instantly without handing out your BSB and account number, actively register your own mobile number as a PayID within the Services menu of your Bank of Melbourne App. Once registered and linked to your primary transaction account, you can simply tell friends and family to "Pay my mobile number," and the Osko network will securely route their funds directly to your preferred account in seconds.
Frequently Asked Questions
Why is my Osko payment taking longer than a few seconds?
While most Osko payments are near real-time, the Bank of Melbourne may occasionally place a temporary hold (up to 24 hours) on a transfer if it is going to a first-time payee, or if the transaction triggers the bank's automated fraud and scam screening algorithms. This is a standard security measure designed to protect your funds.
Can I use PayID to pay a BPAY bill?
No. PayID and Osko are primarily designed for peer-to-peer or direct business transfers. For standard utility or credit card bills, you must continue to use the traditional BPAY system, which does not currently process in near real-time.
Pro-Tip: If you change your phone number or email address, remember to immediately update or deregister your active PayID through Internet Banking. This ensures future payments do not accidentally get routed to someone who inherits your old phone number.
