Bank Code Verified

112-801, BSB Number for St George Bank, Kogarah, NSW

BSB Number: 112-801

Bank: St George Bank

Financial Institution: STG

Address: 4-16 Montgomery Street

City: Kogarah

State: NSW

Postcode: 2217

System: PEHto BSB Numbers: Crucial Identification and Routing Tools in the Banking System

Have you ever wondered what those mysterious strings of numbers mean when you make a bank transfer? They might seem like a random jumble of digits, but they actually hold great importance in the banking system.

These numbers are known as BSB numbers, and they are vital for identifying and routing funds accurately. In this article, we will delve into the world of BSB numbers, understanding their significance and how they are used by financial institutions like St George Bank.

Topic 1:to BSB Numbers

BSB numbers, also known as Bank State Branch numbers, are a unique code assigned to each bank and branch within a country’s banking system. In the case of Australia, BSB numbers consist of six digits, with the first two indicating the financial institution, and the remaining four identifying the specific branch.

For example, the BSB number 112-801 belongs to St George Bank, with the last four digits specifying the Kogarah branch. The importance of BSB numbers lies in their ability to accurately identify individual banking institutions and branches.

When you make a bank transfer, these numbers act as a sort of address, ensuring that the funds are directed to the correct location. Imagine a scenario where every bank had the same account number format chaos would ensue! BSB numbers provide a systematic and efficient way to route funds within the banking system.

Topic 1: Using BSB Numbers for Identification and Routing

Now that we understand what BSB numbers are, let’s delve into how they function in the identification and routing of funds. When you initiate a bank transfer, whether it’s to pay a utility bill or send money to a friend, you will need to provide the recipient’s BSB number.

This acts as a unique identifier, allowing the banks to pinpoint the destination of the funds. Once the BSB number is inputted into the banking system, the funds are routed accordingly.

The first two digits help identify the financial institution, in this case, St George Bank. These digits are crucial in ensuring that the funds are directed to the correct bank.

Then, the remaining four digits indicate the specific branch, enabling the funds to be routed to the right location within the bank. BSB numbers play a vital role in the banking system by ensuring the accuracy and efficiency of fund transfers.

Without them, banks would struggle to identify the correct recipients and process transactions in a timely manner. They serve as the backbone of the banking system, allowing for seamless transactions between individuals and businesses.

Topic 2: St George Bank

Now that we have a solid understanding of BSB numbers, let’s shift our focus to St George Bank and its role in the financial landscape. St George Bank is a well-established and reputable financial institution in Australia, serving millions of customers across the country.

With a strong emphasis on customer satisfaction and personalized banking services, St George Bank has cemented its position as a trusted partner for individuals and businesses alike. Headquartered in Kogarah, New South Wales, St George Bank operates numerous branches throughout the country, providing a wide range of banking services, including personal and business accounts, loans, mortgages, and investment products.

The BSB number 112-801 belongs to the St George Bank’s Kogarah branch, located at 4-16 Montgomery Street. St George Bank prides itself on delivering exceptional customer experiences and offers innovative banking solutions to cater to the evolving needs of its customers.

With a focus on digital services, customers can conveniently access their accounts, make transactions, and manage their finances through user-friendly online and mobile platforms. Through its wide network of branches and ATMs, St George Bank ensures that customers have easy access to their funds and can conduct banking operations seamlessly.

Whether you’re starting a new business, saving for a dream vacation, or planning for retirement, St George Bank is equipped with the resources and expertise to support your financial goals. Conclusion: N/A

Topic 3: PEH System – Simplifying Fund Transfers with Precision and Efficiency

In the world of banking, efficiency and accuracy are paramount.

To achieve this, financial institutions rely on various systems and technologies to streamline their operations. One such system is the PEH (Payment Event Handling) System.

In this section, we will explore what the PEH system stands for and how it relates to the BSB number provided. The term PEH stands for Payment Event Handling, which refers to a sophisticated system used by banks to process and manage fund transfers.

This system is designed to handle a wide range of payment events, such as transfers between bank accounts, bill payments, and salary deposits. By utilizing the PEH system, banks can ensure that these transactions are executed seamlessly and efficiently.

Now, how does the PEH system relate to the BSB number provided? The BSB number acts as a crucial component within the PEH system, as it helps identify the specific branch where the funds should be routed.

When an individual initiates a fund transfer, the PEH system leverages the BSB number to ensure that the funds are accurately directed to the intended recipient. As mentioned earlier, the BSB number is composed of six digits.

The first two digits signify the financial institution, while the remaining four digits correspond to the specific branch. In the case of the BSB number 112-801, “112” indicates St George Bank, and “801” represents the Kogarah branch.

When a payment event is initiated, the PEH system utilizes the BSB number to route the funds to the appropriate destination. It verifies the first two digits to identify the bank, and then utilizes the last four digits to pinpoint the exact branch.

This streamlined process ensures that the funds reach the intended recipient promptly and accurately. Thanks to the PEH system, fund transfers have become significantly more efficient and reliable.

By integrating the BSB number within this system, banks like St George Bank can process transactions seamlessly, reducing the chances of errors and delays. This not only benefits individual customers but also enhances the overall effectiveness of the banking system as a whole.

Topic 4: Understanding BSB Number Structure: Deciphering the Digits

To understand the BSB number structure and its significance, let’s delve deeper into how it is composed and how it can be interpreted. As mentioned earlier, BSB numbers consist of six digits, with each digit serving a specific purpose.

The first two digits of the BSB number represent the financial institution. In the case of the BSB number 112-801, “112” corresponds to St George Bank.

This number uniquely identifies the bank within the Australian banking system. The remaining four digits of the BSB number signify the specific branch.

In the example given, “801” represents the Kogarah branch of St George Bank. These four digits are critical in directing the funds to the correct location and ensuring efficient processing of transactions.

It’s worth noting that BSB numbers are not randomly assigned but follow a standardized structure. The first digit of the branch number resents the state or territory where the branch is located.

For example, a BSB number starting with “1” corresponds to a branch in New South Wales or the Australian Capital Territory. Similarly, “2” represents a branch in Victoria or Tasmania, “3” for Queensland, “4” for South Australia or the Northern Territory, “5” for Western Australia, and “6” for branches located overseas.

The second digit of the branch number indicates the specific region within the state or territory. This digit serves to further refine the location of the branch.

For larger states like New South Wales, there may be multiple regions identified by different second digits. The third and fourth digits of the branch number represent a sequential number assigned to each individual branch within its region.

These numbers allow for differentiation and identification of specific branches, ensuring accurate routing of funds. Combining these digits, the BSB number provides a precise identification and routing tool within the banking system.

It allows for seamless transfer of funds between financial institutions and facilitates effective communication between different branches and banks. Understanding the structure and interpretation of BSB numbers helps individuals navigate the banking system more effectively.

By providing the correct BSB number, customers can ensure that their funds are routed accurately and expediently. It also helps financial institutions like St George Bank maintain precise records and track transactions with ease.

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