Good news! A new faster, simpler and smarter way to send and receive money is coming soon. We're proud to be one of the first financial institutions in Australia who will offer it to our members.
Introducing the New Payments Platform (NPP)
CUA members will soon be able to make and receive payments in real time, 24/7 through a new fast payments service called the ‘New Payments Platform’ (NPP). It’s being rolled out across over 50 Australian financial institutions, including CUA.
So whether you’re paying a plumber, splitting a bill, or transferring money to a family member, the money should be there almost instantly.
What are the benefits of NPP?
When you make a payment or someone sends you money, the funds should be received in less than a minute, 24 hours a day and seven days a week.
Instead of having to remember account numbers and BSBs, you’ll be able to create a ‘PayID’ using just your email address or mobile phone number to identify your CUA account for receiving payments. When you’re making a payment using a PayID, you’ll automatically be shown the name of the person who owns that PayID before you approve the payment.
You’ll be able to include up to 280 characters of text with your payment to describe what it was for and who it was made to. It means you can keep a more detailed record of your payments.
How can you get ready for NPP?
- While the New Payments Platform isn’t available just yet, you can get ready to take advantage of faster payments by making sure your mobile phone number and email address are up to date in CUA Online Banking.
- If you're not already registered for CUA Online Banking, get started today.
- As soon as you’re able to register for this fast payments service, we’ll let you know how to get started.
Want to know more about NPP?
Got a question about the New Payments Platform? Email us at email@example.com