BSB (Bank-State-Branch) Number is a six digits numerical codes used to identify an individual branch of a financial institution in Australia. BSB Number is used in Australian Paper Clearing System (APCS) and Bulk Electronic Clearing System (BECS) payment systems. To make money transfer, the BSB Number is used together with the bank account number of the recipient.
For international inward money transfer, a SWIFT code must be used together with a BSB Number and Account Number.
The downside of international transfers with your bank
When you send or receive an international wire with your bank, you might lose money on a bad exchange rate and pay hidden fees as a result. That’s because the banks still use an old system to exchange money. We recommend you use TransferWise, which is usually much cheaper. With their smart technology:
In APCS payment system, BSB and account numbers, are used to identify the account to be debited and are printed on the cheque. Mean while in BECS system, BSB and account numbers, are used when transferring funds via the Direct Entry System.
The Australian BSB Numbers consists of three parts in the format of
XXY-ZZZ
| Westpac Bank (GPTPM_QLD) | |
|---|---|
| BSB Number | 034-875 |
| Branch | GPTPM_QLD |
| Street Address | (NBFI Agency to 034-002) |
| City | Sydney |
| Postcode | 2000 |
| State | New South Wales (NSW) |
| Financial Institution Code | WBC |
| Payment System* | EH |