Utilising PayID/Osko has become a popular deposit method due to its relative ease of use and lightning fast deposit times. Deposits via these methods are usually instantaneous. However, we do have experience with banks holding up deposits made to both new and old payee addresses on their customers accounts for their own security and internal fraud prevention processes. ANZ and Commonwealth Bank are two of many banks that we have identified for delaying your first PayID payment for up to 24 hours.
Although this typically only affects the first deposit made, we have experience with this affecting other transactions of our customers. Regardless, it usually only takes up to a maximum of 24 hours.
If you are wishing to speed up the process, it may be worthwhile to contact your bank and ensure they are not withholding the payment. Some customers have requested to have Swyftx 'whitelisted' by their bank to avoid any delays with future payments.
We also have a status page which you can check here https://swyftx.statuspage.io/. This page displays the AUD deposit status of our system and notifies customers when we have multiple reports of banks currently delaying payments.
If you have any further questions relating to your PayID deposit, please don't hesitate to contact us via live-chat.