| BSB: | 033-885 |
| Bank: | WBC Yarra Valley Water |
| Address: | 25 Lucknow St, Mitcham, VIC 3132 |
What is a BSB?
A BSB (Bank State Branch) number is a unique identifier used in the Australian banking system. It consists of six digits and is employed to specify individual banks and their respective branches. The BSB number is crucial for electronic funds transfer, direct deposits, and other financial transactions within Australia. Essentially, it helps ensure that money is accurately routed to the correct bank and branch, facilitating smooth and secure transactions between financial institutions.
The Six Digit BSB
The six digits in a BSB (Bank State Branch) number serve specific purposes:
- First two digits: These digits identify the bank. Each bank in Australia is assigned a unique two-digit code that is used to recognize the financial institution.
- Next four digits: These digits represent the specific branch of the bank. The third digit represents the State whilst the next three digits are the designated branch number within the given state. The combination of these four digits helps pinpoint the exact location or branch within the identified bank.
The BSB number acts as a numerical address, with the first two digits pointing to the bank and the subsequent four digits specifying the branch. This system ensures accuracy and efficiency in routing funds to the correct destination during electronic transactions within the Australian banking system.