Bank Code Verified

063-593, BSB Number for Commonwealth Bank, Gladstone Park, VIC

BSB Number: 063-593

Bank: Commonwealth Bank

Financial Institution: CBA

Address: Shop B 173 Gladstone Park Dr

City: Gladstone Park

State: VIC

Postcode: 3043

System: PEHto BSB Numbers: The Key to Routing Funds Efficiently

In the ever-evolving world of banking, efficiency and accuracy are paramount. With millions of transactions taking place daily, it is crucial to have a robust system in place that ensures funds are routed to the correct destination promptly.

This is where BSB numbers come into play, serving as the linchpin of the banking system. What are BSB Numbers?

BSB, short for Bank/State/Branch, is a unique six-digit number assigned to each bank branch in Australia. These numbers are administered by the Australian Payments Network (AusPayNet), which ensures the integrity and accuracy of the BSB system.

BSB numbers are fundamental to the functioning of the Australian banking system, enabling seamless identification and routing of funds.

Identification and Routing of Funds

BSB numbers play a vital role in identifying both the financial institution and branch that a customer is associated with. When making a payment or transferring funds to another individual or business, the payer must enter the recipient’s BSB number along with their bank account number.

This combination of BSB and account numbers provides a foolproof method for identifying the destination of the funds. Routing funds is where BSB numbers truly shine.

These numbers act as a virtual GPS, directing the funds through the banking network to their intended recipient. When a payment is initiated, it is first routed through the payer’s financial institution.

The BSB number allows the bank to quickly ascertain the destination financial institution and the relevant branch within it.

Once the destination financial institution is identified, the system routes the funds accordingly.

This process ensures that the payment arrives at the specific bank branch associated with the recipient’s BSB number. In this way, BSB numbers streamline the routing process, reducing the risk of errors or delays.

Benefits of BSB Numbers

BSB numbers offer numerous benefits to both banks and customers alike:

1. Accuracy and Efficiency: By utilizing BSB numbers, financial institutions can ensure that payments and transfers are directed to the appropriate destinations without error or confusion.

This results in enhanced efficiency and reduced administrative costs. 2.

Speed: The use of BSB numbers expedites the routing process, allowing funds to be transferred swiftly from one bank branch to another. This ensures that payments arrive promptly, satisfying customers’ expectations for timely transactions.

3. Prevention of Unauthorized Transactions: BSB numbers play a vital role in preventing unauthorized transactions.

When a payment is initiated, the provided BSB number allows banks to verify the recipient’s account details, reducing the risk of fraud or erroneous transactions. 4.

Seamless Interbank Transactions: BSB numbers facilitate smooth interbank transactions, enabling customers to transfer funds between different financial institutions effortlessly. This feature is especially valuable for individuals or businesses with accounts at multiple banks.

5. Regulatory Compliance: BSB numbers are a key component of the financial regulatory landscape, with banks obliged to utilize them to adhere to Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) regulations.

By incorporating BSB numbers into their operations, banks can demonstrate compliance with these crucial regulatory measures. Commonwealth Bank: A Trusted Institution

One of Australia’s premier banking institutions, Commonwealth Bank (CBA), fully embraces the BSB system to an exemplary extent.

With its origins dating back over a century, CBA has established itself as a trusted partner for millions of customers, providing a wide range of banking services. Based in Gladstone Park, Victoria, the CBA branch located at Shop B 173, Gladstone Park Dr, offers a variety of essential financial services to the local community.

Equipped with the BSB number 063-593, this branch exemplifies the efficient routing of funds through the BSB system.


BSB numbers are the backbone of the Australian banking system, crucial for the identification and efficient routing of funds. They enable accurate and swift transfer of payments, reducing errors and delays.

With Commonwealth Bank as an example, it is clear that embracing the BSB system ensures seamless banking operations, promoting trust and confidence among customers. By understanding the significance of BSB numbers, both banks and customers can appreciate the role they play in the modern banking landscape.

Topic 3: PEH System: Elevating Efficiency and Security in Banking

The banking landscape is constantly evolving, with new technologies and systems emerging to enhance efficiency and security. One such system is the PEH system, which stands for the Payment Entry Hub system.

This innovative solution is designed to streamline and automate the processing of payments within the Australian banking system. By understanding the PEH system and its relationship to BSB numbers, the banking industry can further elevate its operational capabilities.

What is the PEH System? The PEH system is a centralized messaging system that handles the routing and settlement of customer payments across financial institutions in Australia.

It essentially acts as a hub, facilitating the secure and efficient transfer of funds between banks. This system replaces the traditional method of banks directly exchanging payment messages, resulting in a more robust and streamlined process.

The PEH system integrates seamlessly with the existing banking infrastructure, working in conjunction with BSB numbers to facilitate the routing of funds. It offers real-time settlement capabilities, enabling faster and more efficient processing of payments between banks.

This heightened speed and automation significantly reduce administrative burdens and allow for enhanced customer satisfaction.

Benefits of the PEH System

The implementation of the PEH system brings forth a range of benefits for both banks and customers:

1. Enhanced Efficiency: The PEH system eliminates manual processes and reduces the need for human intervention in payment processing.

By automating the routing and settlement of funds, it minimizes errors and delays, ultimately increasing overall efficiency. 2.

Real-Time Settlement: With the PEH system, transactions can be settled in real-time, providing near-instantaneous availability of funds. This is particularly advantageous for businesses that require immediate access to their funds to support their operations.

3. Comprehensive Reporting: The PEH system offers robust reporting capabilities, providing banks with detailed transactional information.

This enables financial institutions to generate comprehensive reports, monitor payment trends, and conduct accurate reconciliations. 4.

Increased Security: The PEH system employs advanced security measures to protect customer information and prevent fraudulent activities. The use of encryption and authentication protocols ensures the utmost security of payment messages, safeguarding funds during the transfer process.

5. Compliance with Regulatory Standards: By utilizing the PEH system, banks can effectively maintain compliance with regulatory requirements.

The system incorporates industry standards and protocols, ensuring adherence to Anti-Money Laundering (AML) and other regulatory frameworks.

The PEH System and BSB Numbers

In the context of BSB numbers, the PEH system relies on them to accurately route and identify the destination of funds within the banking system. When initiating a payment, the payer includes the recipient’s BSB number along with their account number.

This information allows the PEH system to determine the specific financial institution and branch associated with the recipient. Subsequently, the system routes the payment accordingly, ensuring it reaches the intended destination.

The PEH system also utilizes BSB numbers to enable seamless interbank transactions. For example, when a customer wishes to transfer funds from their account at one bank to an account at a different bank, BSB numbers serve as a key identifier.

By entering the correct BSB number for the destination bank, the PEH system can accurately direct the payment to the correct financial institution, facilitating a smooth transfer process. The PEH system and BSB numbers work hand in hand to create a more efficient and secure banking environment.

Their integration enhances the speed and accuracy of payment processing, simplifies interbank transactions, and ensures compliance with regulatory standards. Topic 4: Understanding BSB Number Structure: Unlocking the Digits, Decoding the Details

The structure of BSB numbers follows a specific format that provides valuable information about the financial institution and branch associated with it.

A typical BSB number consists of six digits, divided into three segments. Each segment carries specific significance, offering insights into different aspects of the bank branch.

1. The First Two Digits: The first two digits of a BSB number represent the bank or financial institution code.

Each bank is assigned a unique code, enabling easy identification. For example, the Commonwealth Bank’s code is 06.

2. The Third Digit: The third digit signifies the state in which the bank branch is located.

Each state is assigned a specific number for identification. In the case of Victoria, the assigned number is 3.

3. The Fourth to Sixth Digits: The remaining three digits represent the branch code.

This portion of the BSB number distinguishes one branch from another within the same financial institution. For the Commonwealth Bank branch in Gladstone Park, this code is 593.

Breaking Down the BSB Number Provided

Let’s analyze the BSB number 063-593 that belongs to the Commonwealth Bank branch at Shop B 173 Gladstone Park Dr in Victoria (state code 3). The first two digits, 06, indicate that the financial institution associated with this BSB number is the Commonwealth Bank.

The third digit, 3, corresponds to the state of Victoria. The fourth to sixth digits, 593, represent the branch code for the Gladstone Park branch.

In summary, the BSB number 063-593 reveals that it belongs to the Commonwealth Bank branch in Gladstone Park, Victoria. Understanding the structure and significance of BSB numbers allows for quick identification of financial institutions, branches, and states.

This knowledge streamlines payment processing and ensures accurate routing through the banking system. In


The PEH system and BSB numbers are integral components of the Australian banking system.

The PEH system enhances efficiency and security by automating payment processing and settlement, while BSB numbers enable accurate identification and routing of funds. Understanding the structure and significance of BSB numbers provides valuable information about the financial institution, state, and branch associated with the number.

By embracing these systems and gaining awareness of their functionalities, banks and customers can experience seamless and secure transactions within the banking landscape.

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