Once you have understood the basic principles of BSB numbers you will need to locate the six digit number, ahead of your money transfer. In this guide, we will outline what steps to take to find a BSB number, so you can successfully send money to Australia.
A BSB number is a six digit code used to identify the specific bank branch needed when transferring money from one account to another. BSB numbers are only used for Australian bank accounts: to send money within the country, as well as receiving money from an overseas payer.
BSB numbers are required as part of the money transfer process in Australia. All the major banks and financial institutions will have their own BSB numbers. Anyone sending money to an Australian account will need not only the BSB number, but also the recipient’s individual account number.
Locating a BSB number is the next step for anyone arranging an Australia money transfer. There are a few ways to find this six digit number:
It is important you secure the correct BSB number, as it will dictate the transfer route your funds are sent on. Make sure the six digit code you find follows the format: XX-Y-ZZ
If you are unsure at all about the number you have been given, you can utilise the aforementioned “BSB finder” tools to validate it, ahead of transferring any money.
BSB numbers are not to be confused with account numbers, which are equally as important for money transfers to Australia. From sending money online to family in Australia, to receiving your pension abroad as an expat, BSB numbers are a crucial aspect of banking in this sovereign country, and it is important to fully understand them before sending or receiving your hard-earned funds. Our comparison engine will help you secure the most convenient and low-cost deal for your money transfer.
April is a journalist and full-time content writer for MoneyTransfers.com. Over the last decade she has written for a number of different online and print publications. Having lived overseas in Canada and Vietnam, April hopes to see more of the world as soon as possible, with Japan at the top of her travel list. As a former expat, April has first-hand experience of managing finances from overseas. She enjoys writing about forex trends and the future of banking.