How to make a same day (RTGS) payment

Send money from your business account on the same day.

What is RTGS?

An RTGS or Real Time Gross Settlement payment is a special type of payment where the transfer of money takes place from one bank to another within Australia on the same day. The roll-out of Osko® and PayID® which has near real-time payments has replaced the need to send RTGS payments in many cases. A fee of $20 is debited from the person making an RTGS.

 

The checkbox for RTGS will only appear if the payee is with a bank other than Westpac, if the payee's Financial Institution is not eligible for Osko® and they are eligible to receive an RTGS payment.

Payees banking with Westpac will automatically receive their payment on the same day, as will payments made using Osko®.

How do I make a same day payment?

In Online Banking

  1. Hover over Payment then select Make a payment
  2. Select an existing payee you wish to pay, or create a new payee by clicking Pay new payee
  3. Select the account you wish to pay from using the Select an account dropdown menu and enter the amount to be paid
  4. Under the Amount, tick the box next to Process this as a same day (RTGS) payment and send a longer payee description. A fee of $20 will apply. Once completed, select Continue

Useful tips

  • A payment must be created and fully approved before the 3pm (AEST) cut off time
  • If a payment is attempted after 3pm (AEST), you will receive a message advising the deadline has passed
  • If you are using your Westpac Personal profile, you will need to contact us to have this feature enabled
  • If you are using a Business Profile, your Administrator can activate this feature in User Administration then Select User then Accounts
  • Fees apply for Same Day (RTGS) Payments
  • You must have an active Security device
  • There is a maximum cumulative daily limit of $500k for same day (RTGS) payments that a User can approve. Your usual daily payment limits will also apply.

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Things you should know

Read the Westpac Online Banking Terms and Conditions (PDF 392KB) at westpac.com.au before making a decision and consider whether the product is right for you.

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