Bank state branch
A Bank State Branch (often referred to as "BSB") is the name used in Australia for a bank code, which is a branch identifier. The BSB is normally used in association with the account number system used by each financial institution. The structure of the BSB + account number does not permit for account numbers to be transferable between financial institutions. While similar in structure, the New Zealand and Australian systems are only used in domestic transactions and are incompatible with each other. For international transfers, a SWIFT code is used in addition to the BSB and account number.
The BSB identifier consists of six numerals, the first two or three of which is a bank identifier. The BSB identifier is used for processing of paper and electronic transactions, but not in payment card numbering.
In Australia, the Australian Payments Clearing Association (APCA) is now the regulatory body of cheque clearances and of the BSB codes in Australia. APCA assigns the bank code to a financial institution and the financial institution allocates the other digits to its branches, in line with guidelines set by APCA. Some financial institutions have more than one bank identifier, arising from mergers of financial institutions or consolidating by banks of their trading and savings banks operations. As of March 2012, almost 14,300 unique BSB code values were in use.
In Australia, BSB codes are allocated by the Australian Payments Clearing Association (APCA). BSB codes are used in a number of payment systems in Australia. To access the various clearance systems a financial institution must have its own BSB or use an intermediary with a BSB.
Cheques are the least used form of non-cash payment in Australia, but the most by value. Financial institutions are required to include BSB and bank account numbers on cheques, at the bottom of the cheque in MICR form, which identify the specific bank account number to be debited. BSB codes are also used on deposit and other vouchers. Paper transactions are processed under the Australian Paper Clearing System (APCS) (also known as CS1) drawn up by APCA. Account instructions which do not have a BSB code must be processed manually.
Electronic fund transfers (EFT) are the most common method of non-cash payment in Australia. EFT transactions between bank accounts use the Direct Entry system. For transfers using the Direct Entry System, BSB and bank account numbers must be given for the accounts to be debited as well as for the account to which funds are to be transferred. Electronic transactions are processed under the Bulk Electronic Clearing System (BECS) (also known as CS2) drawn up by APCA. The requirement for two-sided BSBs is eased in transactions involving payment cards, such as credit cards or debit cards, and in BPAY transactions, in which one side of the transfer is an account which includes the BSB electronically linked to the card and BPAY biller.
For incoming international transfers, SWIFT codes are used in addition to the Basic Bank Account Number (BBAN), which comprises a BSB and bank account number. There is no public discussion of the adoption of IBAN identifiers for incoming international transactions. Any process towards IBAN would involve considerable changes to bank software and computer systems, and the requirement for financial institutions to adopt defined length account numbers. Outgoing international transfers must use either the SWIFT or IBAN system in use in the destination country, which would incorporate that country's format for BBAN.
The BSB is a six-digit code. The format of the BSB code originally was for the first two digits to indicate the "bank" and the other four digits to specify the "branch" of that financial institution, the first digit of which was the state code indicating the state where the branch was located. For example, the Australian BSB code "033088" breaks down to:
- 03 = Westpac Banking Corporation, historically the trading operation
- 3 = Victoria
- 088 = 383 Chapel Street, Prahran
Some of the larger banks had two bank codes, with separate codes for their trading (cheque) and savings bank entities. The first digit of the bank code was either 0 (for trading bank accounts) or 1 (for savings bank accounts), with a common second digit. For example, 03 was for Westpac's trading accounts, while 73 was for Westpac's savings accounts. Some banks continue to use two bank codes, which today are of only historic and legacy significance.
Following the introduction in the United Kingdom in the 1960s of a "sort code", a comparable BSB identifier system was introduced in Australia in the early 1970s to streamline cheque clearance through the banking system in Australia. At the time the clearance systems were open only to financial institutions registered as banks. The BSB and account number was printed on cheques in MICR format to streamline the process of data capture as well as for mechanical sorting and bundling of the physical cheques for forwarding to the payer bank branch for final cheque clearance. Other financial institutions had to use banks as intermediaries to access the clearance of their "payment orders", which were the non-banking equivalents of cheques.
Since then, the use of BSBs has been extended to electronic transactions, but not in payment card numbering.
With the restructuring of the financial system in Australia, other financial institutions were given direct access to the clearing systems, and the structure of the BSB has had to be modified. While banks generally still follow the traditional state branch structure, building societies and credit unions often do not. This is because many of these institutions use an intermediary; for example, BSBs such as 80xxxx are administered by Cuscal, 579xxx are administered by Australian Settlements Limited, whereas 704xxx is administered by Indue. In these situations, the building society or credit union is identified by the 'state' and 'branch' components of the BSB whereas the 'bank' refers to the intermediary. Depending on the intermediary used, building societies (both current and former) BSBs generally start with 63xxxx and most credit unions BSBs will use either 704xxx or 80xxxx. The state code structure is not always used in these situations. For example, Bendigo Bank started as a building society in Victoria but now uses a single BSB nationally (633-000) while the Queensland-based Heritage Bank, also a former building society, uses 638xxx. Suncorp uses 484-799 for all deposit accounts regardless of which branch or state the account was opened in.
Furthermore, recent changes in Australia's financial system have allowed larger building societies and credit unions to establish their own BSBs, even if they are using an intermediary. Having their own BSB allows a financial institution to create new products and offer additional services.
List of Australian Bank codes
|01||ANZ||Australia and New Zealand Banking Group Limited|
|03 or 73||WBC||Westpac Banking Corporation|
|06 or 76||CBA||Commonwealth Bank of Australia|
|08 or 78||NAB||National Australia Bank|
|09||RBA||Reserve Bank of Australia|
|11 or 33||STG or SGP||St George Bank|
|12 or 639||BQL or HOM||Bank of Queensland; 639 refers to Home Building Society which has since been acquired by Bank of Queensland|
|15||T&C||Town & Country Bank; acquired by ANZ|
|19||BOM||Bank of Melbourne (2011), previously Advance Bank|
|21||CMB||JPMorgan Chase Bank|
|23||BAL||Bank of America|
|26||BTA||BT Financial Group|
|28||NMB||National Mutual Royal Bank, joint venture between Royal Bank Canada & National Mutual Insurance (sold to ANZ)|
|29||BOT||Bank of Tokyo|
|34 or 985||HBA or HSB||HSBC Bank Australia|
|35 or 980||BOC or BCA||Bank of China|
|40||CST||Commonwealth Bank Group, formerly Colonial State Bank which was previously State Bank of New South Wales|
|41||DBA||Deutsche Bank Australia|
|42 or 52||TBT||Colonial Trust Bank, formerly Trust Bank Tasmania now part of CommBank|
|46||ADV||Advance Bank (branches in the ACT)|
|47||CBL||Challenge Bank, which has since been acquired by Westpac Banking Corporation|
|48 or 664||MET or SUN||Suncorp Bank; 48 was used by Metway Bank prior to its merger with Suncorp Building Society|
|533||BCC||Bananacoast Community Credit Union|
|55||BML||Bank of Melbourne (1989), formerly RESI-Statewide Building Society, now part of Westpac Group|
|57||ASL||Australian Settlements Limited, an intermediary used by many organisations|
|60||SBV||State Bank Victoria, prior to merger with CommBank|
|611||SEL||Select Credit Union|
|630||ABS||ABS Building Society|
|634||UFS||Uniting Financial Services|
|639||HOM||Home Building Society (WA) acquired by Bank of Queensland Ltd|
|641 or 647||IMB or AUB||IMB Ltd|
|642||ADC||Australian Military Bank Ltd, previously Australian Defence Credit Union|
|645 or 656||MPB or BAY||Wide Bay Australia Ltd], now Auswide Bank|
|646||MMB||Maitland Mutual Building Soc Ltd|
|650||NEW||Newcastle Permanent Building Society|
|653||PPB||Pioneer Permanent Building Society; since acquired by Bank of Queensland|
|654||ECU||ECU Australia Ltd|
|655||ROK||The Rock Building Society Limited, now part of MyState Bank Limited|
|70||CUS||Indue Limited, an intermediary used by many organisations (particularly Credit Unions)|
|704-191||CUS||Victoria Teachers Mutual Bank|
|728||SCU||Summerland Credit Union (1 July 2011 728-728)|
|80||CRU||Cuscal Limited, an intermediary used by many organisations (particularly Credit Unions)|
|812||TMB||Teachers Mutual Bank Limited|
|813||CAP||The Capricornian Ltd|
|814||CUA||Credit Union Australia Ltd|
|815||PCU||Police Dept Employees C/U Ltd|
|817||WCU||Warwick Credit Union|
|819 or 931||IBK or ICB||Industrial & Commercial Bank of Australia|
|888||CCB||China Construction Bank Corporation|
|911||SMB||Sumitomo Mitsui Banking Corporation|
|913||SSB||State Street Bank & Trust Company|
|915||FNC||FNC Agency - Bank One, NA|
|917||ARA||Arab Bank Australia|
|918||MCB||Mizuho Corporate Bank|
|922||UOB||United Overseas Bank|
|923 or 936||ING or GNI||ING Bank|
|932||NEC||New England Credit Union Ltd (Trading as Regional Australia Bank)|
|941||BCY||Delphi Bank; formerly Bank of Cyprus Australia, since acquired by Bendigo Bank|
|942||LBA||Bank of Sydney |
|943||TBB||Taiwan Business Bank|
|951||INV||Investec Bank (Australia) Limited|
|952||RBS||Royal Bank of Scotland|
- "Towards The Digital Economy - Milestones Report - April 2013" (PDF). Retrieved 29 September 2013.
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List of State codes
The major banks structure their BSB codes according to States. This is largely historic and have only limited significance in electronic banking. For those who maintain State codes, the State code is the first of the four digit branch field and are:
- 2 - Australian Capital Territory, New South Wales
- 3 - Victoria
- 4 - Queensland
- 5 - South Australia, Northern Territory
- 6 - Western Australia
- 7 - Tasmania
- 8, 9 - [(intermediary)]
- Bank card number
- ISO 9362, the standard for SWIFT codes, international bank identifiers
- List of banks in Australia
- New Zealand bank account prefix
- ABA routing transit number
- Routing number (Canada)
- Sort code, a number used in the United Kingdom and Ireland that is similar to the BSB