Are you wondering if there is a limit on Osko in Australia? Check this article.
To help you understand better, we will first show you how to make an Osko payment.
How To Make An Osko Payment In Australia
Payments can only be made with internet banking or the banking app.
If the recipient’s bank or financial institution supports Osko payments, you can make payments to any Australian account.
Payments cannot be made from term deposits, loan accounts, or joint accounts.
You can use a PayID or a BSB and account number to make an Osko payment in Australia.
You can send money to any PayID as long as it has been created and is active.
When you send money to an inactive PayID, the payment will be rejected and automatically reversed to your account.
Confirm the PayID you have entered before confirming the transfer to ensure the security of the transaction.
This is how you make an Osko payment in Australia.
Now that you know how to make a payment, we will answer your concerns about the limit on Osko in Australia.
Is There A Limit On Osko
Yes, there is a limit on all Osko transactions with every bank. Every financial institution or bank has its Osko limit.
For most banks, the daily maximum limit is $1000.
The maximum daily transaction for payments made within internet banking has not changed but now includes Osko payments.
Therefore, you cannot transact more than what is set as your limit.
You will have to split (spread) the transaction over multiple days if the transaction exceeds $1000.
This is the information you need about the limits on Osko in Australia.
You can view your limit within internet banking either on your banking app or website.
Now that you know the Osko limit, we will show you how to change your limit.
How To Increase The Limit On Osko
You can change your daily limits using internet banking.
Open your internet banking and select the transaction limits.
Open the limits and opt to increase or decrease your set daily limits.
However, you cannot increase the limit past $1000 as that is the maximum Osko payment limit per day.