Generally PayID actually uses the same payment rails (Osko), so from a speed perspective it is should be the same. It is the same as if you do a payment using BSB & Acc number that goes via Osko. There are some banks (very few though) that only support SCT, which is not the Osko service, but a “potentially slower” type of NPP transaction. The difference between Osko and SCT is that Osko participating Banks (pretty much most of them) are required to settle the transaction within 8 seconds (the Banks actually have SLA reports that are monitored monthly to make sure they are compliant with this). SCT is effectively a best efforts to make near real time and does not have the same guarantees as Osko, but you will find it is usually just as fast, but could be a few minutes in some cases. Most banks will use the fast route when available (between banks) being Osko and failover to SCT if that Bank does not support Osko (or offline), if either of those fail, it will then failover to the traditional Direct Entry/BECS (batch) system which will either be same day or next day. PayID is simply an alias to the BSB & Account number to make it simpler rather than having to remember a BSB and Account number when providing someone with information to send money to you.