062 bsb which bank

We recommend you use TransferWise , which is usually much cheaper. With their smart technology: You get a great exchange rate and a low, upfront fee every time.

You move your money as fast as the banks, and often faster — some currencies go through in minutes. Your money is protected with bank-level security. You join over 2 million customers who transfer in 47 currencies across 70 countries. The First two digits XX specify the parent financial institution. Third digit Y specifies the state where the branch is located. For acquiring success to the many different systems of cheque clearance, a banking institution needs to have its own BSB code or use a intermediary code with a BSB code attached.

Paper transaction handling. Both BSB and bank account numbers should be featured by the banking institutions in MICR form to identify the number of the specific bank account that should be credited.

An additional use of BSB codes is for deposit transactions and grant of vouchers. Any accounts with no BSB identifier, need to be processed in manual basis. Any EFT transactions that take place between two or more bank accounts are processed by the Direct Entry system. If this system is used to carry out these transactions, BSB and bank account codes are required for debiting one account and crediting the other.

The same applies to BPAY transactions as well.