Coming soon

Faster payments

Send and receive fast payments, with funds generally transferred between participating banks in under 60 seconds, 24/7.

Simpler identification

Choose to use a PayID instead of your BSB and account number to make getting paid easier. Your PayID is a unique identifier linked to your transaction account and can be your email address, mobile number or ABN.

Smarter payment information

Send more detailed descriptions (up to 280 characters) with your payments.

WHEN WILL IT BE AVAILBLE?

We anticipate fast payments (also known as NPP Payments or Osko Payments) will be available in early 2018. At launch, you’ll be able to create your PayID on NAB Internet Banking, the NAB Mobile Banking App or NAB Connect.

Important information for:

How faster, simpler, smarter payments works

  • Use a PayID instead of a BSB and account number to make payments on the NAB Mobile Banking App
  • Include more information (up to 280 characters) with your payment
  • Have your funds transferred fast - in less than 60 seconds, 24/7 in most instances when you make a payment using the NAB Mobile Banking App
  • Receive fast payments to your eligible NAB transaction account on NAB Internet Banking and the NAB Mobile Banking App


How it can help you

Transferring money to friends, family or a business will be faster and simpler.

Here’s an example: you spot an item for sale online and arrange to view it in person. On site, you decide you simply have to have it, but don’t have the cash with you. No problem. The seller provides you with their easy-to-use PayID (or BSB and account number if they don’t have one) and you transfer the funds on the spot using the NAB Mobile Banking App. Provided they’re with a participating bank, the money arrives into the seller’s bank account within 60 seconds and you’re good to go with your new purchase. Simple.

Benefits for your business

  • Transfer funds when it suits you
  • Leverage fast payments to improve your cash flow
  • Easily reconcile payments using the detailed payment descriptions available with each fast payment sent
  • Provide your PayID to make it simple for others to pay you
  • Use your PayID to strengthen your business branding

Making and receiving fast payments

You’ll be able to receive fast payments through NAB Internet Banking, and both send and receive fast payments using the NAB Mobile Banking App.

If you use NAB Connect – You’ll be able to choose between three payment options: Fast, Overnight or RTGS. When you select fast payments, your payment will be transferred fast- within 6o seconds, 24/7 in most instances.

PayID for your business

Having a PayID can make getting paid easier, but it’s optional. You can choose to use a BSB and account number instead. If you decide to create a PayID you can choose to use your business email address, mobile number or ABN. You should also display your PayID on your invoices as well. At launch, you’ll be able to create your PayID on NAB Internet Banking, the NAB Mobile Banking App or NAB Connect.