Pay with NPP Using Peanut — Coming Soon
Peanut is adding NPP support. Soon you'll send Australian dollars to any bank account in Australia from your digital dollar balance — instantly, 24/7.
Peanut is adding NPP support. Soon you'll be able to send money to any Australian bank account directly from your Peanut balance — converting digital dollars to Australian dollars and delivering them within seconds, 24/7/365. The New Payments Platform (NPP) is Australia's real-time payment infrastructure, processing over 2.2 billion transactions per year. It connects virtually all Australian financial institutions for instant account-to-account transfers. Once the integration goes live, Peanut will give you direct access to Australia's banking system without needing a local bank account or Tax File Number.
The UK-Australia corridor is significant, driven by the large British-Australian diaspora, working holiday visa holders, and business ties. Traditional bank transfers on this route typically take 1-3 days with fees of 1-3%. Peanut will offer instant delivery via NPP at competitive rates — a substantial improvement for anyone sending money to Australia.
What Is NPP?
NPP (New Payments Platform) is Australia's real-time payment infrastructure, launched in 2018 by NPP Australia Limited — an industry consortium of major financial institutions. It was built to replace the slower Direct Entry system with instant, 24/7 settlement.
NPP is built on ISO 20022 messaging, enabling rich data capabilities for payments. The headline feature for consumers is PayID — an overlay service that allows payments using a phone number, email address, or ABN (Australian Business Number) instead of BSB and account numbers. PayID simplifies the payment experience and reduces errors from mistyped account details.
NPP processes over 2.2 billion transactions per year and supports payments up to AUD 1,000,000 (limits vary by institution). All four major banks — Commonwealth Bank, Westpac, ANZ, and NAB — are connected, along with regional banks, credit unions, building societies, and some fintech providers.
Like Faster Payments in the UK or Zengin-Net in Japan, NPP is infrastructure rather than a consumer product. Australians interact with it through their bank's app or online banking interface, often without knowing the "NPP" name.
Where It Works
NPP covers virtually all Australian financial institutions:
- All major banks — Commonwealth Bank, Westpac, ANZ, NAB
- Regional banks — Bendigo, Bank of Queensland, Suncorp, and others
- Credit unions and building societies — hundreds of community-based institutions
- Fintech and neobank providers — selected digital-first institutions
- Business and government payments — corporate and government accounts
Any bank account in Australia that supports NPP — which is the vast majority — can receive instant transfers via PayID or BSB/account number. The system works across the entire country, from Sydney and Melbourne to Perth, Brisbane, Adelaide, and regional areas.
How It Will Work
- 1
Open Peanut and select Send
You'll open the Peanut app and choose to send money via NPP to an Australian bank account.
- 2
Enter the recipient's PayID or bank details
Provide the recipient's PayID (phone number or email) or their BSB and account number. PayID is simpler — just a phone number or email.
- 3
Review the transfer
You'll see the AUD amount, the digital dollar equivalent, and the exchange rate. The rate will lock when you confirm.
- 4
Confirm and send
Tap to confirm. The recipient will receive Australian dollars in their bank account within seconds — 24/7/365, including weekends and public holidays.
The exact payment flow will be confirmed closer to launch. The steps above reflect the general NPP experience combined with Peanut's existing payment model.
What You'll Need
When NPP support goes live, you'll need:
- A Peanut account with identity verification. Verify with your passport or national ID card from any country — under 2 minutes for most users. Your documents are handled securely and Peanut never sees or stores them.
- A funded digital dollar balance. Deposit from any exchange or wallet, or via bank transfer. All deposits are free.
- The recipient's PayID or Australian bank details. PayID (phone number or email) or BSB and account number.
- No Australian bank account or TFN on your end. You won't need a Tax File Number, an Australian bank account, or an Australian mobile number to send money to Australia through Peanut.
Specific requirements and transaction limits will be confirmed at launch.
Fees & Exchange Rate
Peanut charges no fees on payments. When NPP support goes live, you'll convert digital dollars to Australian dollars at a competitive market exchange rate with no transaction fee and no hidden charges.
The Australian dollar is one of the world's most traded currencies, with tight spreads and stable institutional frameworks. Peanut's rate will lock at the moment you confirm — no slippage, no post-transaction adjustments.
Traditional bank transfers on the UK-Australia and US-Australia corridors charge 1-3% in fees and take 1-3 days to settle. Peanut will offer instant delivery with no fees — a significant improvement in both speed and cost. Detailed rate comparisons will be published closer to launch.
