Business accounts

What is a BSB number and where to find the BSB number?

Apr 05, 2024

As with every other country, when you make bank transfers in Australia you’ll need basic information such as the recipient’s account name and number. However, unlike in other places, these are not the only things that you’ll need to make note of.

In Australia, you’ll have to know what is BSB number to make your transfer. Make sure that you’re aware of what it is and how to find BSB number.

What is the BSB number?

While it’s very likely that you’ve encountered several BSB numbers, you may not yet know precisely what is BSB number in Australia.

In simple terms, it is a six-digit number used for local bank transfers that can identify the recipient of the transfer. Each bank state branch or BSB number represents an individual bank branch in Australia.

To compare, a SWIFT code for international transfers is what is BSB number for local Australian transfers. Despite similar functions, BSB numbers are used only for transfers between two local accounts.

Decoding BSB number

Every BSB number follows a certain format. This format is XXY-ZZZ. The breakdown of the format is as follows:

● XX is a two-digit number that represents the bank or financial institution. This could be CommBank, Westpac, NAB, ANZ, or others that fall into the category.

● Y stands for the state in which the receiving bank branch is located. Each state is assigned a one-digit number.

● ZZZ specifies the bank branch’s exact location and address. Every individual branch will have its own three-digit code to differentiate them from other branches.

For example, a quick BSB number search will show that 013-257 is the BSB number for ANZ’s Chadstone branch in Victoria. 01 is the two-digit code for ANZ. 3 is Victoria’s state code. 257 is the specific three-digit code for the Chadstone branch.

As each branch only has one BSB code, what is BSB number for you will be the same as someone else who has a bank account at the same branch.

How and where to find the BSB number

You will be able to easily find your branch’s BSB code if you have a banking account in Australia. All you have to do is log into your online banking portal and view your details, which will include the number. This is applicable for both personal and business bank accounts.

However, if for some reason someone gave you incomplete account details and you need to find what is BSB number for someone else’s account, don’t worry. In that case, how to find BSB number can be a quick online search that will also help you discover this information.

Most banks in Australia will have a branch locator page on their website that not only shows you where the closest branch to you is but also displays the BSB number of the branch. There are also other resources online that have lists of BSB numbers. If you are unsure, it’s always a good idea to call the branch and make sure.

Related read: What is IBAN number and how does it work?

BSB number: Australia vs New Zealand

It’s no secret that a lot of Australians conduct business in New Zealand and vice versa. Therefore, you must be aware of how banking and bank transfers work in New Zealand as well as Australia.

One thing to keep in mind is that New Zealand doesn’t use BSB numbers the way Australia does. Instead, New Zealand bank accounts have individual 16-digit numbers following the format XXXXXX YYYYYYY ZZZ.

The first 6 digits make up a code that represents the bank and branch. It is essentially the same as what is BSB number in Australia, but New Zealand has it incorporated into the account number.

The following numbers in the format, however, have nothing to do with a BSB code. Instead, YYYYYYY is the individual account number, while the last three digits (ZZZ) signify what type of bank account it is.

Interested to know more about how long does international money transfer takes and the factors that affects it? Here is our article on how long do wire transfers take to help you understand it better.

Transferring money with BSB number

When you are aware of what is BSB number along with other bank account details like name, address, and account number, you’ll have all the necessary information to initiate a local bank transfer.

To make a transfer, you’ll have to decide whether you want to do it offline or online. Both methods work perfectly fine. Initiating an offline transfer starts with heading to your bank branch. Speak to the teller and let them know that you want to initiate a transfer. They’ll be able to get your transfer sorted as long as you have the recipient’s bank details. However, one thing you should remember is that there may be some handling fees—even for local transfers.

The alternative is to initiate your payment online. Log into your online banking portal and follow the instructions. Online transfers are very easy to do and take hardly any time. Just enter all the relevant details and the amount you want to transfer accordingly.

Use Volopay for all your business transactions

It’s handy to know what is BSB number for local bank transfers. If you do international business, in New Zealand or elsewhere, you also want to familiarize yourself with SWIFT codes. But knowing what is BSB number and SWIFT code is only the first step in initiating payments through bank transfers. You’ll want a platform that easily allows you to do both local and international transfers.

Volopay is the right solution for your business banking needs. Not only is business payments within the country easy with Volopay, but you can also make international transfers on the same platform if needed. You’ll be equipped with a business account that allows you to load and hold money, which you can then spend on business transfers.

All you have to do is create a vendor, fill out their bank account details, —BSB number or SWIFT code included—and make your payment right there as you would with a banking portal. Settle your payments in no time at all.

Even better, you can get the added benefit of automated accounting synchronization on top of easy business payments. With Volopay, all business transactions are hassle-free.

Do hassle-free business transactions with Volopay