Confirmation of Payee
Confirmation of Payee is a is a security feature designed to add an extra layer of protection against fraud, scams, and accidental payments. It is an initiative of Australian Payments Plus, the same organisation that also provides trusted payment services like BPAY ®, Osko ®, EFTPOS ®, PayID ® and PayTo ®.
Before a payment is made, the service verifies whether the account details you’ve entered, such as the account name, BSB, and account number match the information held by the recipient’s bank. The outcome of this match will be displayed, helping you confirm that you’re paying the correct person or business before proceeding with the transaction.
Payments
Digital Wallets
Easy ways to tap and pay with your device.
Apple Pay, Easy, fast and secure payments with Apple Pay. Now you can add your BankVic Visa card to Apply Pay for an easy way to tap and pay.
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Google Pay, The quick, simple and secure way to pay. Use your BankVic Visa card to make payments in stores and online with Google Pay.
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Samsung Pay, Turn your phone into your wallet with Samsung Pay to easily make contactless payments on your Samsung device.
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Fitbit, A convenient way to pay right from your wrist. Use your BankVic Visa card with Fitbit Pay to make purchases on the go with just a tap.
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Garmin, Leave your smartphone at home with Garmin Pay. Make contactless purchases with your Garmin wearable using your BankVic Visa card.
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Direct debits
Direct debits
A direct debit facility is a simple and convenient way for you to make payments straight out of your transaction account with your BSB and account number. It is most often used for regular transactions like card repayments, insurance premiums and utility bills.
To pay by direct debit, you need to sign a Direct Debit Request (DDR) form addressed to the business or company (the biller) that you wish to pay. The DDR gives the biller permission to debit amounts from your transaction account.
Cancelling a direct debit arrangement
If requested, we'll cancel a direct debit arrangement for you within one day of receiving your request. We won't charge you a fee for cancelling a direct debit facility. You can also cancel a direct debit arrangement by making a request directly with the biller. If we cancel the arrangement for you, it's still a good idea to notify the biller to avoid any fees they may charge for a rejected direct debit.
Some billers use PayTo for their direct debit arrangement. For direct debit arrangement with billers using PayTo, you can cancel the arrangement via internet banking.
Recurring payments
Recurring payments
A recurring payment arrangement is where you pre-authorise a merchant to bill your Visa card at regular intervals. For example, when you subscribe to a streaming service, you provide your Visa card details and authorise the streaming provider to charge you at regular intervals for your subscription.
Cancelling a recurring payment arrangement
To cancel a recurring payment arrangement with a third-party, you will need to cancel your pre-authorisation with the third party directly. For example, if you cancel your streaming subscription, the service provider must stop debiting your Visa card within the timeframe stipulated in the agreement.
Any issues with recurring payments, including if the third party fails to comply with your request to cancel a recurring payment, should be addressed with the third party directly.
Cheques
Important update: We have phased out cheques
As of 1 July 2026. BankVic no longer accepts or honours cheques by mail or in person at BankVic branches. This is in response to the Australian Government announcing that the national cheque system will be fully phased out by 2030.
You can continue to deposit cheques at Australia Post using a Bank@Post QR code.
Account Deposits, Withdrawals and Payments
Transaction Limits
Description Withdrawal limit Osko - direct transfer in real time $5,000 per day Direct Transfer (funds will be available to payee within 3 working days)
Payments to new payees are secured through the use of a One Time Password. If you need to transfer an amount that exceeds the maximum daily limit, please contact us on 13 63 73.$10,000 per day Combined daily transfer limit (Osko & Direct Transfer) $15,000 per day (maximum combined limit across both transfer types).
If you need to transfer more than this amount per day or require an alternative arrangement, please contact us on 13 63 73.
BPAY $20,000 per day Debit and Credit Cards (Digital Wallet/PayWave/Transfer) Available funds/credit limit ATM and EFTPOS (Cashout) $1,000 per day In branch 24 hours advance notice is required to withdraw $5,000 or more in cash Description Deposit limit Direct transfer in real time via OSKO Unlimited Direct transfer (available to payee within 3 working days) Unlimited Debit and Credit Cards (Digital Wallet/PayWave/Transfer) Unlimited In branch Unlimited ATM or EFTPOS Not available for deposits Bank@Post Deposits of up to $9,999 per day in cash are accepted using a specially barcoded deposit book available from BankVic (a maximum of $20.00 in loose coin will be accepted). Bank@Post will not accept a deposit of $10,000 or more.