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What is BSB Number?
The Australian BSB (Bank/ State/ Branch) code is a 6-digit code that precedes the actual bank account number which is used to identify individual branch of a financial institution in Australia. The first 3 digits represent the bank institution code, and the last 3 digits represent the actual branch code for the beneficiary account. The BSB code is required for all wires going to Australia.
BSB Number is used in Australian Paper Clearing System (APCS) and Bulk Electronic Clearing System (BECS) payment systems. In APCS payment system, BSB and Account number are used to identify the account to be debited and are printed on the cheque. Meanwhile in BECS system, BSB and account numbers are used when transferring funds via the Direct Entry System.
Disclaimer: Information posted on this site is only for reference.Please confirm this information with your bank before initiating any financial transaction. We are not liable for your loss due to any errors in our information.