News

What is NPP?

28 January 2025

New Payments Platform or NPP is a centralised platform that facilitates near real-time payments 24 hours a day, 365 days a year between participating Australian financial institutions. These transactions usually occur in under 1 minute.

Your enhanced IM account is able to receive and send money via NPP subject the third party account being with a participating Australian financial institution.

If you need to make an EXTERNAL transfer (e.g. to a BSB and Account Number to pay your rent or tradesman)  you will need to call Services Australia on the SmartCard eIM hotline on 1800 252 604 and they will assist.