Digital Banking Flashcards

What is PayID primarily used for in NAB digital banking?

Answer: Sending money using a phone number or email instead of BSB and account number

PayID lets NAB customers send and receive money using an easy-to-remember identifier like a mobile number or email instead of a BSB and account number.

Which digital payment service allows NAB customers to make near real-time payments 24 hours a day, 7 days a week?

Answer: Osko

Osko, powered by the New Payments Platform (NPP), enables near real-time payments between participating banks including NAB at any time of day.

BPAY is primarily designed for NAB customers to:

Answer: Pay bills using a biller code and customer reference number

BPAY allows NAB customers to pay bills electronically by entering the biller's code and their customer reference number through internet or mobile banking.

What does NAB's PayTo service allow authorized third parties to do?

Answer: Initiate pre-authorized payments directly from a customer's NAB account

PayTo allows businesses and services to initiate real-time payments from a customer's bank account once the customer has set up and approved a PayTo agreement.

When registering a PayID with NAB, which of the following CANNOT be used as an identifier?

Answer: Passport number

NAB supports PayID registration using a mobile number, email address, or ABN, but a passport number is not a valid PayID identifier.

A NAB customer wants to pay a friend back for dinner instantly at 11 PM on a Sunday. Which payment method best achieves this?

Answer: Osko payment to the friend's PayID

Osko via PayID enables near real-time payment at any time, including nights and weekends, making it the fastest option for personal transfers.

In the NAB app, daily transfer limits can be adjusted by:

Answer: The customer themselves within NAB's allowed maximum range

NAB allows customers to self-manage their daily transfer limits within defined maximums through the NAB app or internet banking settings.