A faster payment is a type of Pay AnyBody payment that will be processed instantly via the Osko service, which operates using the New Payment Platform (NPP). You can make a Faster Payment to a BSB and account number or PayID (such as a mobile number or email address) that will go through almost instantly. Find out more about PayID.
If you make a payment using the app or online banking, we'll automatically send your payment as a Faster Payment if it's eligible (and you're registered for SMS code).
If you're not registered for SMS code, to make a Faster Payment in online banking you'll need to choose the 'Faster Payment' option when making your payment. You'll only be able to choose this option for existing payment recipients, so you can't make Faster Payments to new recipients without SMS code.