Osko® & PayID FAQs

OSKO by BPAY^TM is a new way to pay within our Online Banking that’s as fast as cash – without the hassle of cash. Whether you’re paying a babysitter, splitting a bill or giving money to family for something urgent – the money will be there in minutes. Osko by BPAY is the first consumer service to be built on the New Payments Platform and enables real time payments. Osko is available all day, everyday and allows payments to be sent and received in minutes. You can also use 280 characters of text to describe who’s getting paid and why. To acces Osko, just use our Online Banking or Horizon Bank mobile app.

When you make an Osko transaction you will see it displayed as Osko Debit or Osko Credit in your transaction history and statements.

A “PayID” is a smart address for NPP payments, created by linking your Horizon account to a recognisable and memorable piece of information that you use in everyday life – such as your phone number, email address or ABN (if you’re a business). A PayID can only be linked to one account at a time, but you can have multiple PayIDs linking to one account.

Go to Online Banking and click on My Preferences > Manage PayID Choose your mobile number or email address – whichever you want to be linked to your PayID.

Choose the account you wish to link your PayID to. Your PayID is not used to pay money from your account. It’s used as the destination for sending funds.

Click on Get SMS so that a verification code is sent to your mobile phone. If you’re using your email address for your PayID, you will receive the verification code via email. Enter that verification code. Read and accept the terms and conditions. Choose Create.

You can also set your PayID up using the Horizon Bank mobile app. Go to Payments > PayID > Add New.

Yes you can. Speak to your local branch and they’ll set it up for you.

Whilst these payment transactions are usually instant, there are situations where we may need to hold payments for up to 24 hours for security purposes.

Yes you can. In Online Banking or Mobile banking, choose My Preferences > Manage PayID.

Your PayID can be given to other people for them to make a payment in real time to you.

You can use another person’s PayID to make a payment in real time to them via Online Banking or Mobile Banking.

Yes, BSB and account numbers are still in use. PayID doesn’t replace or eliminate your BSB and account number – you can still use them for receiving payments to your account. PayID is simply a new additional way to identify your account for payments.

No. For payments, PayIDs can only be used as the destination for sending funds (i.e. the financial account to which funds are credited).

To ensure the name displayed reasonably and accurately represents you, your PayID name is restricted to a system-generated name based on your validated account details.

No. You can link multiple PayIDs to one account. For joint accounts, all account holders may register their mobile numbers as PayIDs on the account. Each PayID must be unique across the NPP (i.e. only active on one account at any time).

No. PayID to email addresses is only available for email addresses that are associated with Australian financial institutions.

Refer to the relevant account T&C’s for details on account eligibility.

You can create a PayID using your mobile number or email address for receiving Osko payments through Online Banking and Mobile Banking. You can create a PayID using your business name’s ABN at any Horizon branch.

We will not create a PayID for you without your prior consent and acceptance of our PayID Conditions of Use.

Mobile number, email address and ABN.

A PayID can only be linked to one account at any given time.

You can create as many as you like, as long as you can prove to us that that you are the rightful owner of the information (such as the mobile number or email address) you nominate as your PayID.

Yes, multiple PayID types can be linked to the same account. For example you could link an email PayID and a phone number PayID to the same account.

You can change, transfer or close your PayID that is linked to an account with us through Online Banking and Mobile Banking.

PayID payments can only be made from Online Banking and Mobile Banking. This means the same level of security that protects your existing account transactions, will also protect your PayID transactions.

The New Payments Platform (NPP) which is new infrastructure for Australian payments designed to enable fast, flexible payments between Australian financial institutions, consumers and businesses in real time.

No, you do not need to register or create a PayID in order to perform an Osko Payment. You will need BSB, account number and account name. You are, however, encouraged to create a PayID as it is more secure and easier to remember.

No, you will not need to update your App in order to send and receive Osko payments and create a PayID.

You can only make an OSKO payment to another participating financial institution.

To make changes to your Security Options please sign into Online Banking. Select ‘Services & Help’ > ‘Setup Security Options’. After you’ve made changes to your security options you can expect to receive a code via SMS to your mobile phone to use to authorise transactions or changes to contact details.

When you’re setup you will see the Osko payment option whenever you’re making a payment to a participating institution.

If you have set up a PayID on an account with another financial institution, you will need to contact the other financial institution and change the status to transferable, so that your PayID can be transferred to Horizon.

If you wish to transfer your PayID to another financial institution, you will need to log onto Online Banking or Mobile Banking and transfer your PayID. You then have 14 days to transfer this to another account. If no action is taken after 14 days, the PayID will revert back to active.

Contact your local branch for assistance.