Bank Code Verified

082-980, BSB Number for National Australia Bank, Manuka, ACT

BSB Number: 082-980

Bank: National Australia Bank

Financial Institution: NAB

Address: Shops 11-13 Flinders Way

City: Manuka

State: ACT

Postcode: 2603

System: PEHWhen it comes to banking, BSB numbers play a crucial role in ensuring that funds are routed to the correct accounts. These numbers, also known as Bank State Branch numbers, are unique identifiers assigned to each branch of a financial institution in Australia.

In this article, we will delve into the importance of BSB numbers in the banking system and how they are used for the identification and routing of funds. Topic 1:to BSB numbers

BSB numbers are a vital component of the Australian banking system.

They consist of six digits and are used to identify specific branches of a financial institution. Each BSB number is unique, ensuring that no two branches have the same identifier.

This uniqueness helps in the accurate and efficient routing of funds. The importance of BSB numbers lies in their role in the identification and routing of funds.

When making a transaction, whether it’s a transfer of funds or a direct debit payment, the BSB number of the recipient’s branch is required. This number, along with the account number, ensures that the money reaches the intended destination.

One of the key benefits of using BSB numbers is their simplicity. Unlike complicated account numbers, BSB numbers are relatively easy to remember and communicate.

This simplicity makes it easier for individuals and businesses to provide accurate banking details, reducing the chances of funds being sent to the wrong branch. Moreover, BSB numbers also contribute to the security of transactions.

By using a unique identifier for each branch, banks can easily identify any irregularities or errors in the routing process. This helps prevent fraudulent activities and ensures that funds are handled securely.

Topic 2: National Australia Bank

National Australia Bank (NAB) is one of the leading financial institutions in Australia, with a strong presence across the country. The bank operates numerous branches, each assigned a unique BSB number for identification and routing purposes.

NAB was established in 1982 through the merger of National Bank of Australasia and Commercial Banking Company of Sydney. Since then, the bank has grown into a trusted and reliable institution, catering to the financial needs of individuals, businesses, and corporations.

With its extensive network of branches and ATMs, NAB ensures convenient access to banking services for its customers. The bank offers a wide range of financial products and services, including personal banking, business banking, wealth management, and insurance.

Whether it’s opening a savings account, applying for a loan, or seeking investment advice, NAB provides comprehensive solutions to meet various financial goals. The BSB number for NAB branches, including the one located at Shops 11-13 Flinders Way in Manuka, ACT, is 082-980.

This unique identifier is essential for individuals and businesses wishing to make transactions with NAB or route funds to accounts held at the bank. Conclusion:

In conclusion, BSB numbers serve as essential tools in the Australian banking system.

They provide a simple yet effective means of identification and routing of funds. The uniqueness of BSB numbers ensures accuracy and security in transactions, ultimately contributing to the smooth operation of the banking system.

National Australia Bank, with its extensive network of branches and comprehensive financial services, is a prominent player in the Australian banking industry. The BSB number assigned to NAB branches, such as the one in Manuka, ACT, ensures that funds are delivered to the correct accounts, allowing individuals and businesses to carry out their financial transactions with ease and peace of mind.

Topic 3: PEH System

The PEH system stands for Pricing and Electronic Hub System. It is a specialized electronic system used by financial institutions to facilitate the pricing and routing of electronic transactions, including payments and transfers.

The PEH system is an integral part of the Australian banking system and plays a crucial role in ensuring the accurate and efficient processing of transactions. The PEH system is closely related to the BSB number provided for the National Australia Bank branch in Manuka, ACT.

This system serves as the backbone for the routing of funds based on BSB numbers. When a transaction is initiated, the PEH system uses the BSB number to determine the appropriate financial institution and branch for processing the transaction.

In the case of the BSB number 082-980 for the National Australia Bank branch in Manuka, the PEH system recognizes that the funds should be routed to NAB and specifically to the branch located at Shops 11-13 Flinders Way. This routing information enables the PEH system to ensure that the funds reach the correct destination accurately and in a timely manner.

The PEH system is designed to handle large volumes of electronic transactions efficiently. It employs advanced technology and algorithms to process transactions swiftly while maintaining the highest level of security.

By utilizing the BSB number as a key identifier, the PEH system can route funds across the vast network of financial institutions in Australia, ensuring seamless financial transactions for individuals and businesses. Topic 4: Understanding BSB number structure

BSB numbers consist of six digits and are structured in a specific format that holds significance in identifying the associated financial institution and branch.

The BSB number structure is as follows:

First two digits: These represent the bank code and indicate the financial institution to which the branch belongs. In the case of the BSB number 082-980, the bank code “08” corresponds to the National Australia Bank.

Third digit: This digit is known as the state code and denotes the state or territory where the branch is located. In this example, the digit “2” represents Australian Capital Territory (ACT).

Fourth digit: The fourth digit is known as the competition digit and is an internal identifier used by individual banks or financial institutions. It signifies a specific purpose or function within the organization.

In the provided BSB number, the digit “9” could represent a specific type of account or service offered by the National Australia Bank. Fifth and sixth digits: These digits are known as the branch identifier and provide further specificity by distinguishing between different branches within the same financial institution.

In this case, the digits “80” uniquely identify the National Australia Bank branch located at Shops 11-13 Flinders Way in Manuka, ACT. By breaking down and interpreting the BSB number 082-980, we can ascertain that it corresponds to the National Australia Bank in the Australian Capital Territory, with the branch located in Manuka at Shops 11-13 Flinders Way.

This breakdown enables accurate routing of funds to the specific branch within the financial institution. Understanding the structure and significance of BSB numbers is essential for individuals and businesses engaging in financial transactions.

It ensures that funds are directed to the correct account and financial institution, promoting efficient and secure banking practices. In summary, the PEH system plays a vital role in the routing and processing of electronic transactions, utilizing the BSB number as a key identifier.

The BSB number structure provides valuable information about the associated financial institution, branch, and location. By understanding the structure and interpretation of BSB numbers, individuals and businesses can ensure accurate and secure transactions within the Australian banking system.

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