Bank Code Verified

062-765, BSB Number for Commonwealth Bank, Liverpool, NSW

BSB Number: 062-765

Bank: Commonwealth Bank

Financial Institution: CBA

Address: 270-274 Macquarie Street

City: Liverpool

State: NSW

Postcode: 2170

System: PEHto BSB Numbers:

Identification and Routing of Funds

In the world of banking, there are numerous systems and codes in place to ensure the smooth and efficient flow of funds. One such system is the BSB number.

Have you ever wondered what exactly BSB numbers are and how they play a crucial role in the banking system? Well, wonder no more! In this article, we will dive deep into the world of BSB numbers, exploring their purpose, importance, and how they are utilized for the identification and routing of funds.

Topic 1:to BSB Numbers

BSB, which stands for Bank State Branch, is a six-digit number that uniquely identifies a specific bank and branch within Australia. It is used extensively by financial institutions to process electronic transactions, including direct deposits, electronic funds transfers, and bill payments.

Importance in the Banking System

BSB numbers are of utmost importance in the banking system, as they help facilitate smooth and accurate transactions. Without these numbers, it would be nearly impossible to route funds accurately to the intended recipient.

They also play a crucial role in enhancing security by ensuring that funds are transferred to the correct destination.

Identification and Routing of Funds

BSB numbers provide a way to identify both the bank and the branch where an account is held. The first two digits of the BSB number represent the bank code, which is unique to each financial institution.

For example, the Commonwealth Bank’s bank code is 06. The following four digits represent the branch code, identifying the specific branch within the bank.

For instance, BSB number 062-765 corresponds to the Macquarie Street branch of the Commonwealth Bank in Liverpool, NSW. When a sender initiates a transaction, they will provide their bank with the BSB number of the recipient’s account.

This information is critical for routing the funds accurately. The sender’s bank will utilize the BSB number to identify the recipient’s bank and branch, allowing the transfer to be directed to the correct destination.

In this way, BSB numbers act as a vital link in the chain of the fund transfer process, ensuring that money reaches its intended target. Topic 2: Commonwealth Bank

The Commonwealth Bank of Australia, also known as CBA, is one of the largest and most prominent financial institutions in Australia.

It was established in 1911 and has since grown to become a trusted provider of a wide range of banking services.

Bank Details

The Commonwealth Banks BSB number is 062-765. This unique identifier is associated with the Macquarie Street branch in Liverpool, NSW.

Located at 270-274 Macquarie Street, this branch offers a range of services, including personal and business banking, financial planning, and wealth management. Why Choose the Commonwealth Bank?

The Commonwealth Bank has earned a stellar reputation for its commitment to customer care, technological innovations, and secure banking practices. Here are a few reasons why it is a popular choice among customers:

1.

Broad Range of Products and Services: Whether you are an individual, a small business owner, or a large corporation, the Commonwealth Bank offers a comprehensive suite of banking products and services tailored to your needs. From everyday transaction accounts to home loans, credit cards, and business financing solutions, they have you covered.

2. Convenient Digital Banking: In this fast-paced digital age, the Commonwealth Bank understands the importance of convenience and accessibility.

With their user-friendly mobile banking app and online banking platform, you can easily manage your finances, make payments, and even apply for loans from the comfort of your own home. 3.

Commitment to Security: The Commonwealth Bank places a high value on the security of its customers’ funds and personal information. They have implemented various security measures to protect against fraud and unauthorized access.

With features like biometric authentication and real-time transaction notifications, you can have peace of mind knowing that your money is in safe hands. 4.

Extensive ATM and Branch Network: With over 1,000 branches and 4,000 ATMs across Australia, the Commonwealth Bank ensures that you are never far away from convenient banking services. Whether you need to withdraw cash, deposit checks, or seek assistance from a friendly banking professional, you can easily find a branch or ATM near you.

Conclusion

BSB numbers are a vital component of the banking system, ensuring the accurate identification and routing of funds. The Commonwealth Bank, with its strong commitment to customer service and innovative banking solutions, stands out as a leading financial institution in Australia.

So, the next time you transfer funds or make a payment, remember the importance of the BSB number and consider the Commonwealth Bank as your trusted partner in banking. Topic 3: PEH System

In the world of banking, various systems and technologies are employed to ensure smooth and efficient transactions.

One such system is the PEH system. But what exactly does PEH stand for, and how does it relate to the BSB number provided?

Let’s explore this system in detail. PEH stands for Payments Entry Hub.

It is a technological infrastructure used by the Commonwealth Bank to process electronic transactions efficiently and securely. The PEH system acts as a gateway that facilitates the transfer of funds between different banks and financial institutions.

It ensures that transactions are routed accurately and that funds reach their intended destination in a timely manner. The PEH system works hand in hand with the BSB number to process transactions.

When a customer initiates a transaction, whether it’s a direct deposit, electronic funds transfer, or bill payment, the PEH system utilizes the BSB number to identify the recipient’s bank and branch. This information is crucial for accurately routing the funds.

The BSB number, in combination with the PEH system, plays a vital role in the smooth functioning of electronic transactions. By ensuring that funds are transferred to the correct destination, the PEH system helps maintain the integrity and efficiency of the banking system.

Topic 4: Understanding BSB Number Structure

BSB numbers follow a specific format and structure, with each digit holding significance in identifying specific banks and branches. Let’s delve into the format and structure of BSB numbers and break down the digits of the BSB number provided: 062-765.

The BSB number is a six-digit code, with the first two digits representing the bank code and the following four digits representing the branch code. Understanding the structure of BSB numbers enables accurate identification and routing of funds.

Bank Code: The first two digits of the BSB number represent the bank code. In the case of the Commonwealth Bank, the bank code is 06.

This code is unique to each financial institution, allowing for easy identification of the bank involved in a transaction. Branch Code: The next four digits of the BSB number represent the branch code.

This code identifies the specific branch of the bank where an account is held. In the given BSB number 062-765, the branch code is 2765.

It uniquely identifies the Macquarie Street branch of the Commonwealth Bank in Liverpool, NSW. Breaking Down the BSB Number: Let’s break down the BSB number 062-765 to understand its significance and interpretation:

0 – Common code: The leading zero in the bank code signifies that the financial institution falls into a common code category.

This common code is reserved for major banks and financial institutions within Australia. 6 – Bank code: The bank code 06 specifically refers to the Commonwealth Bank.

This unique code distinguishes it from other financial institutions within the banking system. 2 – State code: The first digit of the branch code is often used to denote the state or territory where the branch is located.

However, in this case, as the number is 2765, the leading 2 does not have any specific significance. 765 – Branch code: The remaining three digits of the branch code, 765, help identify the Macquarie Street branch of the Commonwealth Bank in Liverpool, NSW.

This combination of numbers is unique to this particular branch, enabling accurate routing of funds to the correct location. By understanding the structure and interpretation of BSB numbers, individuals and financial institutions can ensure that transactions are processed accurately and efficiently.

The combination of the bank code and branch code allows for quick identification and routing of funds within the banking system. In conclusion, the PEH system, in conjunction with the BSB number, plays a critical role in the banking system.

The PEH system acts as a gateway for electronic transactions, ensuring accurate and secure transfers. The BSB number, with its unique structure and interpretation, allows for the identification and routing of funds to specific banks and branches.

By understanding these systems and codes, individuals can navigate the banking system with ease, ensuring that their transactions are processed seamlessly.

Popular Posts