Bank Code Verified

336-106, BSB Number for St George Bank, Perth, WA

BSB Number: 336-106

Bank: St George Bank

Financial Institution: SGP

Address: Level 2 167 St George’s Terrace

City: Perth

State: WA

Postcode: 6000

System: EH_x000D_Have you ever wondered what those strange numbers on your bank statements are? BSB numbers may seem like just a jumble of digits, but they play a crucial role in the banking system.

In this article, we will delve into the world of BSB numbers, exploring what they are, why they are important, and how they are used for identification and routing of funds. Topic 1:to BSB numbers

BSB numbers, also known as Bank State Branch numbers, are unique identifiers used in the Australian banking system.

Their primary purpose is to help facilitate the smooth transfer of funds between banks, ensuring that they reach the correct destination. Each BSB number is assigned to a specific financial institution and branch, allowing for precise routing of funds.

Importance in the banking system:

The importance of BSB numbers cannot be overstated. Without them, the banking system would be in chaos, with funds possibly being misplaced or lost.

BSB numbers provide an organized and efficient method for banks to identify and route funds accurately, reducing errors and delays. Identification and routing of funds:

BSB numbers serve two main functions: identification and routing.

Firstly, they identify the financial institution and branch to which the funds are being transferred. This is essential to ensure that the funds are accurately accounted for and credited to the correct account.

Secondly, BSB numbers help in the routing of funds. When a transfer is initiated, the BSB number acts as an address, specifying the destination branch and financial institution.

This enables the transfer to be directed to the correct location, even if multiple branches exist within a financial institution. BSB numbers are typically six digits long, with the first two digits representing the financial institution and the remaining four digits indicating the specific branch.

For example, in BSB number 336-106, “336” represents St George Bank as the financial institution, while “106” designates the specific branch. Topic 2: St George Bank

St George Bank is an Australian financial institution that forms part of Westpac Banking Corporation.

It operates branches throughout Australia and offers a wide range of banking services. Let’s delve into some key information about St George Bank.

Branch location:

The St George Bank branch associated with BSB number 336-106 is located in Perth, Western Australia. The address is Level 2, 167 St George’s Terrace, Perth, WA 6000.

This prime location offers convenience for customers in the bustling city. Services offered:

St George Bank offers a comprehensive suite of banking services to both individual customers and businesses.

These include personal banking, home loans, credit cards, insurance, business banking, and wealth management services. Customer focus:

St George Bank prides itself on its customer-centric approach.

It strives to understand and meet the unique needs of its customers, aiming to provide personalized service and tailored financial solutions. By fostering strong relationships with its clients, St George Bank aims to be their trusted financial partner.

Integration with Westpac:

St George Bank is part of the Westpac Group, one of Australia’s largest banking organizations. This integration offers customers the best of both worlds the personalized service of St George Bank and the resources and stability of Westpac.

Customers can access their accounts seamlessly through various channels, including online, mobile banking, and ATMs.

Financial strength and stability:

Being part of the Westpac Group, St George Bank benefits from its parent company’s strong financial position and solid reputation. This provides customers with peace of mind, knowing that their funds are held by a well-established and secure financial institution.

In conclusion, BSB numbers are an integral part of the banking system, ensuring the smooth transfer of funds between financial institutions. Understanding their purpose and significance allows customers to navigate the banking system with ease.

St George Bank, with its customer-focused approach and integration with the Westpac Group, stands as a reliable and trusted financial institution for customers in the Perth area and beyond. Topic 3: EH System

The EH System, which stands for Electronic Handshake, is a crucial part of the Australian banking infrastructure that facilitates the smooth transfer of funds through BSB numbers.

It is a sophisticated electronic system that ensures the accurate identification and routing of funds through the banking network. The EH System plays a fundamental role in the transmission of financial transactions in Australia.

When a transfer is initiated, whether it is a deposit or a payment, the EH System uses the BSB numbers to establish a secure electronic connection between the sending and receiving banks. This connection acts as a virtual “handshake,” allowing the transfer of funds to take place seamlessly.

The EH System verifies the authenticity and validity of the BSB number, ensuring that it corresponds to an active financial institution and branch. It also securely encrypts the transaction data, protecting it from unauthorized access or interception.

This encryption ensures the confidentiality and integrity of the transaction as it travels through the banking network. Furthermore, the EH System is responsible for routing the funds accurately.

It uses the BSB number to determine the destination financial institution and branch, ensuring that the funds are credited to the correct account. The EH System works in real-time, processing these transactions swiftly and efficiently, minimizing any delays or errors.

In summary, the EH System is a vital component of the Australian banking infrastructure that utilizes BSB numbers to facilitate the secure and accurate transfer of funds. It establishes electronic connections between banks, verifies the validity of BSB numbers, encrypts transaction data, and ensures proper routing of funds, all contributing to the smooth operation of the banking system.

Topic 4: Understanding BSB number structure

BSB numbers have a specific format and structure that is designed to provide precise identification and routing of funds within the banking system. Understanding this structure is key to interpreting and decoding the information contained within a BSB number.

BSB numbers in Australia consist of six digits. The first two digits represent the financial institution, while the remaining four digits indicate the specific branch.

Each financial institution and branch is assigned a unique combination of digits that distinguishes it from others. The first two digits of a BSB number identify the financial institution.

These digits are assigned by a regulating body, the Australian Payments Network (AusPayNet). Each financial institution, such as St George Bank, is allocated a specific two-digit code.

For example, the code “33” is assigned to St George Bank. The remaining four digits of the BSB number signify the specific branch within the financial institution.

This four-digit combination is determined by the bank itself and is used to differentiate various branches. In the case of the BSB number 336-106, the “106” represents the branch associated with St George Bank.

When interpreting a BSB number, it is important to note that different financial institutions may have varying structures for their branch numbers. Some financial institutions may assign a single unique code to each branch, while others may use a combination of codes and additional digits to further specify the location or department within the branch.

BSB numbers play a crucial role in guiding the routing of funds. Financial institutions and their branches have designated BSB numbers, ensuring that funds are accurately directed to the intended destination.

The EH System utilizes these numbers to establish a secure electronic handshake, allowing for the smooth and efficient transfer of funds. In conclusion, the structure of BSB numbers consists of two digits representing the financial institution and four digits representing the specific branch.

These numbers are assigned by regulating bodies and individual banks. Understanding the structure and significance of BSB numbers allows for their accurate interpretation and facilitates the routing of funds within the banking system.

The EH System relies on BSB numbers to establish secure electronic connections and ensure the smooth transfer of funds between financial institutions.

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