Stops working properly every 2-3 days with 'instant' transfers taking many hours.
If you need reliable instant transfers you can forget about Osko, when it works is ok but every few days it fails badly. Today is the second time is not working this week so expect it will fail again once more before the end of the week. There has to be a better way to transfer money out there, cryptocurrencies can move almost instantly between wallets so why can't the banks transfer money between accounts the same way ?
Receiver - reference details
We receive numerous payments from customers. Most payments using OSKO via a phone bank app - Payment Reference never comes through. We receive the remitter's name and the words "credit to account" twice!
Terrible, failure of a company
Transferred money, got confirmation email from my bank, two weeks later the recipient still hadn't received my transfer. All details were correct. My bank tells me it must have been a technical error on osko's part, bank didn't even seem to care, just blamed third-party Osko. I was very disappointed, shocked and embarrassed my transfer never reached my friend even though I had confirmation from my bank the transfer had occurred successfully. If I ever have the choice I will never use this Osko company again. Thanks for nothing.
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The slowest transfer times i've seen
We receive payments from AU banks by deposit multiple times each day , either immediate or same day. BUT WITH OSKO it's 2 days - the slowest transfer , why advertise fast payments when they're clearly the slowest. False advertising , they need to be taken to court.
so much for being quick
I Osko transferred $2000 from my bank account to Coinspot to invest asap - the transfer still has not happened 23 hours later... I called my bank after 2 hours to be told this could take up to 24 hours "for security issues"- never again Osko
A flawed product
Osko is a service recently introduced by banks for paying bills and transfering money.
It is promoted as being quicker than direct deposit using BSB and Account number.
One time I used it to pay someone. Completed the transaction and signed out of my online bank account. I don't check my statement all that often, but was surprised when a month later the other party said "You haven't paid". I found out that the transfer had been rejected as the other bank was not a party to Osko. So it's not quicker. You have to check later to make sure ...
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