What is PayTo?
PayTo is a digital way for businesses and merchants to initiate real-time payments from their customer’s bank accounts. It provides customers with more visibility and control over their payment arrangements through an enhanced, digital customer experience.
PayTo is an easy, fast way to manage payments that are coming from your bank account, within the security of existing online banking. PayTo offers the ability to view and manage PayTo agreements in one place.
How does PayTo work?
PayTo works something like a direct-debit, but allows the customer a great deal more control. A PayTo agreement contains the payment terms agreed between the payer customer and the business or merchant. PayTo agreements are pre-authorised within a payer customer’s banking channels, most likely their internet banking, where they can also pause, resume, or cancel a PayTo agreement.
Using a PayID or account number and BSB, the payee sends an authorisation request for a new bill, subscription or online purchase. The PayTo agreement may then be authorised or declined and future updates made, simply and securely within the internet banking service.
How do I register for PayID and OSKO?
- Register for Internet Banking (note if you’re registered for Internet banking, proceed to step 2): You are required to be registered for BankWAW Internet banking to set up your PAYID and/or send real time payments via OSKO. For more information click here.
- Set up SMS OTP (note if you’re registered for SMS OTP, proceed to step 3): Go to 'Settings'/'Set Up Security' in the main menu of your Internet banking session. Select the ‘request’ button, and confirm by selecting ‘Request’ again. Finally, enter your BankWAW Internet banking password in the field showing on this screen (no need to wait for a code to continue).
- Register for PayID: Go to 'Settings' in the main menu and select 'Manage PayID'. Create your PayID against your desired BankWAW account, using either an email address or mobile number. Save your Pay ID.
- Complete Activation: For enhanced security, once you have completed these steps and registered for PayID/OSKO, we ask that you call us on 1300 368 555 to complete activation of the service.