Knowing what a BSB number is, what it includes, and where to find it will help ensure that your next domestic or international money transfer goes smoothly.
Learn more about BSB codes and the role they play in sending and receiving money here. Australian citizens should pay careful attention to these codes to make sure their funds are directed to the right place. This unified system ensures that all Australian banks and branches have an organized system of identification. To stay organized, BSB codes use a standardized format to communicate the details that banks need. Wondering what the difference between BSB numbers and account numbers is?
The main difference is that your account number is unique to your specific account. Meanwhile, your BSB number directs the payment to the correct branch. The two numbers give banks the information needed to transfer your funds correctly. In addition to the resources above, there are a few easy ways to identify your BSB code to prepare for a money transfer. Most banks make it easy to find your BSB number for money transfers.
Check your online account, recent banking statements, or give your local branch a call to confirm. Searching for a BSB number? Here is a list of BSB numbers for some of the most popular banks in Australia:. New Zealand uses a different numbering system and does not use BSB codes. Instead, New Zealand uses a digit format that includes the same information, formatted in a different way.
Finally, the last three digits denote the account type, i. Once you know the BSB number of your recipient — as well as their name, address, account number, and sort code — making a bank transfer is a simple process.
Simply head into your local branch and speak to a teller, and they should be able to get the transfer started. Alternatively, you could handle the transfer online by logging into your online account making the transfer there. Of course, banks can charge significant fees for handling money transfers, which means that you may want to look at some alternative options.
There are many specialist exchange services that can work out to be slightly cheaper than traditional bank transfers. GoCardless helps you automate payment collection, cutting down on the amount of admin your team needs to deal with when chasing invoices. Find out how GoCardless can help you with ad hoc payments or recurring payments. Sign up Contact sales. Credit card merchant fees can be costly, especially for small businesses. Skip to content Open site navigation sidebar.
Why GoCardless? For use case Subscription payments Recurring payments built for subscriptions Invoice payments Collect invoice payments automatically. For small business Overview Improve your cashflow Keep track of payments Reduce costs Reduce failed payments Increase conversions. For enterprise Overview Reduce churn Reduce international barriers Reduce time to get paid Reduce operational costs Reduce conversion risk. Whereas in Australia you need both the Bank State Branch number and bank account number to recognize an individual bank account and transfer money to it, in New Zealand BSB numbers are not used.
The last three digits ZZZ specify the kind of account accepting the transfer, this can be checking, business, savings, and so on. When sending money through your bank or money transferring service it is not uncommon to have hidden transfer fees or high foreign exchange commissions sprung upon you. We also offer a very competitive currency exchange rate in case your payment to Australia or New Zealand requires you to buy Australian Dollars or New Zealand Dollars.
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