Bank Code Verified

012-974, BSB Number for ANZ Bank, Brisbane, QLD

BSB Number: 012-974

Bank: ANZ Bank

Financial Institution: ANZ

Address: 1/324 Queen St

City: Brisbane

State: QLD

Postcode: 4000

System: PEHHave you ever wondered what those numbers at the bottom of your checks or on your bank statements mean? They are called BSB numbers, and they play a crucial role in the banking system.

In this article, we will explore what BSB numbers are and why they are important. We will also discuss how BSB numbers are used for identification and routing of funds, as well as take a closer look at ANZ Bank, one of the leading financial institutions in Australia.

Topic 1:to BSB Numbers

BSB numbers, or Bank State Branch numbers, are a unique identifier for each branch of a financial institution in Australia. These numbers consist of six digits and are used for various banking operations, including the identification and routing of funds.

Let’s take a closer look at how BSB numbers are used. Identification:

Every bank branch in Australia is assigned a unique BSB number.

This allows individuals and businesses to identify the specific branch they are dealing with. For example, the BSB number 012-974 is associated with the ANZ Bank branch located in Brisbane, QLD.

By including the BSB number in their transactions, customers can ensure that their funds are directed to the correct branch. Routing of Funds:

BSB numbers also play a crucial role in routing funds between different banks and financial institutions.

When funds are transferred from one account to another, whether it’s within the same bank or across different banks, the BSB number is used to determine the destination branch. This ensures that the funds reach the intended recipient, regardless of their location.

For example, if you want to transfer funds from your account at ANZ Bank to a friend’s account at a different bank, the BSB number of your friend’s bank branch would be required along with their account number. The BSB number helps the banking system route the funds to the correct branch, and the account number ensures that the funds reach the correct account within that branch.

Topic 2: ANZ Bank

ANZ Bank, also known as Australia and New Zealand Banking Group Limited, is one of the largest financial institutions in Australia. With its headquarters in Melbourne, ANZ Bank has a wide network of branches and ATMs across the country.

Let’s dive into some key information about ANZ Bank. Location and Address:

ANZ Bank’s Brisbane branch is located at 1/324 Queen St, Brisbane, QLD 4000.

This branch serves the local community and provides a range of banking services, including personal and business banking, home loans, investments, and more. Services Offered:

ANZ Bank offers a comprehensive range of financial products and services to meet the needs of individuals, businesses, and corporate clients.

From everyday banking services like savings accounts and credit cards to complex financial solutions such as wealth management and institutional banking, ANZ Bank has a variety of options to suit different customer requirements. Commitment to Technology:

ANZ Bank is committed to leveraging technology to provide innovative banking solutions to its customers.

With the advancement of digital banking platforms, ANZ Bank offers convenient options for online banking, mobile banking, and contactless payments. This allows customers to manage their finances on the go and access banking services anytime, anywhere.

Customer Support:

ANZ Bank understands the importance of excellent customer service. The bank has a dedicated customer support team that is available to assist customers with their queries or concerns.

Whether it’s through phone, email, or in-person at the branch, ANZ Bank aims to provide a positive banking experience for its customers. Conclusion:

In this article, we explored the concept of BSB numbers and their importance in the banking system.

BSB numbers are unique identifiers for bank branches and are used for identification and routing of funds. We also took a closer look at ANZ Bank, one of the leading financial institutions in Australia.

ANZ Bank offers a wide range of banking services and is committed to providing innovative solutions to its customers. So the next time you come across those six-digit BSB numbers, you will have a better understanding of their significance in the world of banking.

Topic 3: PEH System:

The PEH system stands for the Primary Exchange and Host System. It is a part of the Australian Payments Platform (formerly known as the New Payments Platform), which is an industry-wide payment infrastructure developed by the Australian banking industry.

The PEH system is responsible for processing and settling high-value payments, such as interbank transfers and other large-value transactions. The PEH system plays a crucial role in the Australian banking system as it provides a secure and efficient platform for the transfer of funds between financial institutions.

It operates on a real-time basis, allowing for faster and more convenient transactions. This system is especially important for businesses and individuals who need to make time-sensitive payments or settle large transactions promptly.

How PEH System Relates to the BSB Number:

The BSB number plays a significant role within the PEH system. When funds are transferred between different banks or financial institutions, the BSB number is used as an identification code to direct the funds to the appropriate financial institution and branch.

In the case of the ANZ Bank branch with the BSB number 012-974, the PEH system recognizes the BSB number as belonging to ANZ Bank, allowing the funds to be directed to the correct financial institution. The PEH system then uses further information, such as the account number, to ensure that the funds are routed to the specific branch within ANZ Bank, in this case, the Brisbane branch at 1/324 Queen St.

By efficiently using the BSB number as a routing tool, the PEH system ensures that funds are securely and accurately transferred between financial institutions, facilitating smooth financial transactions between customers and businesses.

Topic 4: Understanding BSB Number Structure

BSB numbers in Australia have a well-defined format and structure, which consists of six digits divided into three components: the bank code, the state code, and the branch code. Each component has its own significance within the BSB number.

The first two digits of the BSB number represent the bank code. In the case of the provided BSB number 012-974, the bank code is “01,” which indicates that the branch belongs to ANZ Bank.

Each bank in Australia has a unique bank code, making it easy to identify the specific financial institution associated with a BSB number. The following two digits represent the state code.

In this example, “29” signifies Queensland (QLD). The state code indicates the geographical location of the branch within Australia.

The last two digits represent the branch code. For the BSB number 012-974, the branch code is “74.” The branch code distinguishes one particular branch from another within the same bank and state.

It helps in the accurate routing of funds to the intended branch. Taking a closer look at the given BSB number, 012-974, we can interpret it as follows:

– The bank code “01” represents ANZ Bank.

– The state code “29” signifies Queensland (QLD). – The branch code “74” indicates a specific branch within ANZ Bank, in this case, the Brisbane branch located at 1/324 Queen St.

Interpreting the BSB number provides valuable information about the specific branch and financial institution associated with it.

By using the correct BSB number, customers can ensure that their transactions are directed to the right branch, facilitating the efficient transfer of funds. In conclusion, the PEH system, part of the Australian Payments Platform, is an essential infrastructure that facilitates high-value payments and settlements between financial institutions.

BSB numbers play a crucial role within the PEH system as they are used for identification and routing of funds. Understanding the structure of BSB numbers, including their components and significance, allows customers to accurately interpret and utilize these numbers for smooth and secure financial transactions.

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