Sold Fast pays every seller via Osko instant bank transfer. Here's exactly how it works, which banks support it, and what to expect on the day of your sale.
Osko is Australia's real-time payment service, operated by BPAY Group. It enables bank-to-bank transfers that arrive almost instantly — typically within 60 seconds, 24 hours a day, 7 days a week.
Osko is built into the standard internet banking and mobile banking apps of all major Australian banks. You don't need to sign up for anything special — if you have a bank account at one of the participating banks, you already have access to receive Osko payments.
We pay via Osko because it's the safest, fastest, and most verifiable payment method available in Australia. Unlike cash (which carries security risks for both parties), bank cheques (which can be delayed or fraudulent), or regular bank transfers (which can take 1–3 business days), Osko arrives in seconds and is traceable and guaranteed.
For a transaction the size of a car sale, Osko is simply the best option — and it means you can confirm receipt of payment before handing over the keys and signing the transfer documents.
All major Australian banks and credit unions support Osko, including:
And dozens of smaller banks and credit unions. If you're unsure whether your bank supports Osko, check your mobile banking app — if you see the Osko logo or the option for 'instant payment,' you're set.
Simply your BSB and account number. We confirm the account name prior to sending to verify the details match. Once you've accepted the offer and signed the transfer paperwork, we initiate the Osko payment immediately.
You'll typically see the funds appear in your account within 60 seconds. We stay until payment is confirmed in your account before taking possession of the vehicle.
Osko itself doesn't impose a payment limit, but individual banks set their own daily limits for outgoing payments — which may affect very high-value transactions. Sold Fast has arrangements in place to handle larger transactions and our accounts are set up for high-value Osko transfers. If you have questions about specific transaction amounts, contact our team before the appointment.
They're related but different. PayID is a way to identify your bank account using a simple identifier like your mobile number or email address — instead of a BSB and account number. Osko is the underlying payment network that makes the transfer instant. You can receive an Osko payment via your BSB/account number or via PayID if your bank supports it.
In the rare case your bank doesn't support Osko, we can discuss alternatives — though the vast majority of Australians have access to Osko through their primary bank. Contact our team and we'll find a solution.
After. We initiate the Osko payment while you're present, and we all wait until you can confirm the funds have arrived in your account. Only then is the vehicle handed over and transfer documentation signed. You always receive payment first.
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