A BSB number is a general code when sending or receiving payments within Australian banks. It’s also well-known among people or businesses that keep regular money transfers to the country. It consists of a couple of digits that carry the necessary information to guide the transaction by identifying a financial institution as the final destination. This number acts as an ID to ensure that any international payment will arrive properly.
Knowing what a BSB number is, what it looks like, and where to find it can help you and the banks involved during a domestic money transfer or from another country to Australia. After all, it offers a warranty to send the payment to the right place. So keep it in mind whenever you have a client or an employee working there. With this article, let’s learn more about the BSB numbers from Australian banks.
What is BSB number?
A BSB number is a code deployed by Australian banks to identify other financial institutions within the country and ensure the proper destination for international transactions. It works similarly to the postal codes. Before sending a letter — local or abroad — you need to inform this number to help the post office deliver the content to the right place. The same goes for money transfers.
If international payments are part of your daily routine, other initials — such as IBAN number or BIC and SWIFT codes — might sound familiar to you. In turn, BSB stands for Bank State Branch. It consists of a 6-digit code to identify: your bank, state, and branch location. The BSB has a similar function, but it’s unique for Australian operations.
The AU BSB number is supplied by the Australian Payments Network. This system is responsible for secure that all local banks and branches keep a unified identification structure. Some banks use a single BSB number for all branches. Other financial institutions rely on different codes for each branch. Let’s see a few examples:
- ANZ: multiple BSB numbers;
- Bank of Queensland: one code for operations within the bank app (124-899) and a different number for other accounts (124-001);
- Bendigo Bank: more than one BSB number;
- Beyond Bank: universal code for all branches — 325-185;
- Commonwealth: a BSB number for each specific branch;
- NAB: different codes for different branches;
- Suncorp: one BSB number for all branches and accounts — 484-799.
Whether it’s a single number or different codes, the purpose is the same for all of them: quickly guide the money to the correct bank account for domestic and overseas transfers. Furthermore, you can use your BSB to create an IBAN to deal with some cross-border payments.
What does a BSB look like?
Like the IBAN, BIC, and SWIFT, a BSB number is a 6-digit code that follows a standard format while saving communication details regarding a bank. Through the examples above, you can already see the similarities. Here we will show what each number represents, using the code from Beyond Bank to make it more visual:
- Beyond Bank uses 325-185;
- The first two numbers (32) refer to the bank;
- The next (5) represents the state where your local branch is;
- The last three numbers (185) identify the branch.
Besides your account number, when you provide a BSB number, the bank responsible to process the transaction has access to the data needed to send the money. This way, the institution can guide the funds to the right destination.
How do I find my BSB number?
If you hold an account in an Australian bank or want to send a payment to the country, it’s recommended to check the requirements for an international money transfer. You can start with the BSB number since it’s mandatory. Usually, this information is available online while accessing the bank’s website — close to the account number most of the time — and also on your banking statements.
Another way is to ask the bank directly by paying a visit or making a phone call. If you don’t know the recipient’s BSB number, you can check it through a code locator online using the branch location. Inclusive, we brought some examples on the first topic of this article to help you with your search. Each institution has a branch locator tool. A few dedicated BSB finders are also available online when you do a quick search.
If you are planning an international payment to Australia with a BSB number, it’s worth knowing there are fast, safe, and low-cost options out there. Whether you need to send money to your family or pay employees, a multi-currency account can help by optimizing your financial routine. With Husky, recurring payments can be automated to quickly reach their destination while fair prices are applied to the transaction.
Want a cheaper way to send and receive money to Australia and other countries worldwide? Then open your free account at Husky to start saving money and time.