Faster payments

Send a fast payment with funds transferred between participating banks in less than 60 seconds, 24/7 in most instances. 

Simpler identification

Create and provide your 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 fast payments.

Important information for:

How faster, simpler, smarter payments works

  • Make a payment to a PayID instead of a BSB and account number
  • Include more information (up to 280 characters) with your payment
  • Have your funds transferred fast – generally in less than 60 seconds, 24/7 - when you make a payment using the NAB Mobile Banking app

How it can help you

Transferring money online is now 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 have to have it, but don’t have the cash with you. No problem. The seller gives you their easy-to-use PayID 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.

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

If you use NAB Internet Banking and the NAB Mobile Banking app: Payments in NAB Mobile Banking will automatically be sent and received fast if both accounts are eligible. In NAB Internet Banking, you are unable to send, but can receive, fast payments.

If you use NAB Connect: You’ll be able to choose between three payment options: fast, overnight or RTGS. You will also be able to view and approve fast payments in your NAB Connect Mobile App

Here’s how the payment options compare:

   Fast payment Overnight RTGS
Cut-off times Payments are processed 24/7 6pm for accounts at other financial institutions 3.50pm
Timeliness of payment Close to real-time: funds sent and posted in under 60 seconds in most instances  Variable: hours, to overnight or longer on weekends Variable: available during business hours only, usually less than 2 hours
Payment confirmation Real-time payment confirmation No confirmation No confirmation
Information sent with the payment 280 characters + Remitter name + Timestamp 18 characters + Remitter name Beneficiary names/address + 140 characters


Find out more about how to create your PayID or talk to a NAB business banker on 13 10 12.


Still have questions?

What are fast payments?

Fast payments refers to all payments made on the New Payments Platform which includes Osko Payments.

Are fast payments secure?

Fast payments are protected by NAB’s real time transaction processing and monitoring capability and PayID is just as secure as how you bank now. Visit our Security Centre to learn more about how to stay safe online, including how to keep your Internet devices secure.

What is Osko and how does an Osko Payment work?

Osko is the name of the payment service offered by BPAY. NAB has signed up to Osko Payments.

With Osko Payments funds are available in under 60 seconds and if you provide 280 characters of description text, the receiving party will see the full description.

You can make an Osko payment to a BSB and Account number or a PayID, but both payer and payee accounts need to be enabled for Osko payments.

How do I make a fast payment?

In the NAB Mobile Banking app, select ‘Pay anyone’, enter your payment details including a PayID (if available) and if the payment is eligible, you’ll be able to enter a detailed description.

In NAB Connect, if the payee and payer accounts are eligible, select ‘fast’ and you will be able to include a detailed description.


  • You will need the latest version of the NAB Mobile Banking app (iOS v9.0.0 or greater; Android v9.1.0 or greater).
  • Fast payments are not currently available in desktop internet banking. If you send a payment in desktop internet banking, it will be processed overnight.
  • NAB and other participating financial institutions are in the process of rolling out fast payments to their customers. You may experience variability of service. A full list of participating banks is available on the New Payments Platform Australia’s website.

Does a fast payment have to go to a PayID?

No, you can make a fast payment to either a PayID or a BSB and account number

To receive a fast payment at NAB, it can be sent to your PayID or BSB and account number. Note: other participating financial institutions may only allow fast payments if their customers pay to your PayID.

For more information about creating and using PayIDs please go to our PayID page.

Which banks are participating?

Participating banks and financial institutions will be rolling out these services in 2018. You can see a full list of participating banks on the New Payments Platform Australia’s website.

How do I know what service was used for my payment and whether it will go through straight away or overnight?

On your receipt screen, we’ll confirm the service used.

Fast payments generally occur in under 60 seconds.

If for some reason, we won’t be able to make your payment as a fast payment, we will usually tell you at the time that you are making the payment and you will have the option to proceed with an overnight payment or make other arrangements.

There are times when we may not know that the payment couldn’t be made using fast payments. In this case, the payment will fail. If your payment is time critical, you should always check your payment status.

How can I check my payment status?

You can check the status of your payment:

  • In NAB Internet Banking, by checking the Payment List.
  • In NAB Mobile App by checking My Payments > Past.
  • In NAB Connect by checking the Payment Register.

What's the detailed description and how does it differ from description?

The description field is used to tell payees what your payment is for – it’s limited to 18 characters.

The detailed description lets you give your payee additional information to accompany a fast payment. This is a new feature to fast payments. Detailed descriptions can hold up to 280 characters.

If you’re a personal banking customer, only your detailed description will be sent to your payee.

What’s happened to Flik/Pay to mobile? Can I still register for it? Will it still work?

In the latest version of the NAB Mobile Banking app, Flik/Pay to mobile has been replaced by PayID and fast payments. PayID is a much simpler way to send and receive money with eligible accounts and can be an email address, phone number or business number (for Business banking customers). In the latest version of the NAB Mobile Banking app, the ‘Mobile’ button will no longer be available.

However, if you are already registered for Flik/Pay to mobile and make a Pay Anyone payment, one of two things will happen:

  • If your payee’s mobile number is registered in the PayID Central Database, your payment will go as a fast payment. Note: your account and your payee’s account both need to be eligible for fast payments; or
  • If your payee’s mobile number is not registered in the PayID Central Database, you’ll have the option of completing the payment to the selected mobile number as an overnight payment.

For more information about fast payments, PayIDs and Osko Payments please refer to your eligible account Terms and Conditions or Business Products Terms and Conditions.