CommBiz Fast Payment

Fast Payment is a CommBiz feature that lets you send money to most Australian financial institutions through the New Payments Platform (NPP).

How do I make a Fast Payment?

We can guide you through the process when making your first Fast Payment with CommBiz. 

How much does it cost to send a Fast Payment?

See the rates and fees section of the CommBiz Terms and Conditions for information about CommBiz fees.

Reporting

Since February 2018, there have been some changes to BTRS and BAI2 reporting. Transactions sent or received via NPP are not included in direct entry reports.

FAQs

Do I need a PayID?

PayID registration is optional. You can send payments to a PayID without having one yourself, and you can still use BSB and account number to receive payments if you'd like.

How many types of PayID are there? 

There are four types of PayID:

  • Phone number
  • Email address
  • Business number
  • Organisation ID

Which CommBank accounts are eligible for PayID registration?

There are a number of CommBank accounts which can be linked to your PayID.

See eligible accounts

Can I send batch payments using Fast Payment?

You can only make single Fast Payments at the moment. This will be available in the future.

Will Fast Payments be sent in real-time?

Fast Payments are available 24/7, 365 days of the year and will typically be settled in under 60 seconds. Payments may be subject to checks and holds at the sending or receiving bank.

What goes in the Reference field?

This is your own unique way of identifying any Fast Payments you make that can help identify and reconcile payments, like an invoice number. 

How do I save PayID details in my address book?

For now, you’re not able to store PayIDs in the CommBiz address book. 

What’s next for Fast Payments?

We are working to enable the ability to send a Fast Payment to a BSB and account number, we expect this to be available later in 2019.