Routing numbers are always 9 digits long. Account numbers may be up to 17 digits long. The first two digits XX specify the bank or financial institution where the money is being sent. The third digit Y tells which state the branch is located in. The last three digits ZZZ specify the address of the branch. A BSB is a six-digit number that identifies the bank, state and branch you opened your account in. However, BSB numbers are intended for local transactions, rather than international transfers.
BSB numbers are relatively simple. They consist of three, distinct parts in the following format:. For example, the BSB code breaks down as follows: 03 is a two-digit code for Westpac Banking Corporation, the third digit 3 identifies Victoria as the state where the bank is located, and tells us that the specific branch is the WBC branch on Collins Street. You can find BSB numbers in a couple of different ways. For a full list of codes for Australian financial institutions, check out thebsbnumbers.
The first six digits is the bank code, which is used to identify both the bank and the individual branch. The next seven numbers are used to identify the individual account. 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. Use the most downloaded money transfer app to send money internationally for pick up in cash or to a bank account anytime, from anywhere.
All Rights Reserved. Cookie Settings. What is a BSB number? How are BSB numbers formatted? Let use this 6-digit BSB number as an example: The first two numbers 11 represent the bank.
The next number 2 represents the state your local bank branch is in. The last three numbers represent the specific branch. BSB codes vs. To use these tools, all they will need is their branch location. Log on to their bank account online. Most of the time, this number is located with the individual account number.
Check their banking statements. Call the bank to confirm their BSB number. The last three digits ZZZ tells the sender and bank what type of account it is checking, savings, etc. Sending money?
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