what is bsb

BSB stands for Bank State Branch, which is a six-digit code used to identify the specific branch of an Australian bank or financial institution. The BSB code is used in addition to the bank account number to identify the recipient of a transfer. The first two or three digits of the BSB code indicate the bank identifier, while the remaining digits specify the branch of that financial institution. Some banks have only one BSB for all branches and accounts, while others have different codes for each branch. BSB numbers are used for processing paper and electronic transactions, but not in payment card numbering. They are commonly used for domestic transactions within Australia. If you need to transfer money to a bank in Australia, you can find the BSB number on the banks website or by calling the branch to ensure you have the correct number.