Bank Code Verified

402-632, BSB Number for Commonwealth Bank, Rylstone, NSW

BSB Number: 402-632

Bank: Commonwealth Bank

Financial Institution: CST

Address: 26 Louee Street

City: Rylstone

State: NSW

Postcode: 2849

System: PEHBSB numbers, also known as Bank-State-Branch numbers, are a vital component of the banking system in Australia. These unique six-digit numbers play a crucial role in identifying and routing funds between financial institutions.

Understanding BSB numbers is essential for both banking professionals and customers alike. In this article, we will explore the concept of BSB numbers and their importance in the banking system.

We will also delve into the specifics of BSB numbers for the Commonwealth Bank, one of Australia’s leading financial institutions. Topic 1:to BSB numbers

BSB numbers are a series of six digits that are used to identify and route funds within the Australian banking system.

Each BSB number consists of three components: the bank code, the state code, and the branch code. The bank code represents the financial institution, the state code denotes the location of the branch, and the branch code identifies the specific branch within the state.

The importance of BSB numbers lies in their role in facilitating efficient fund transfers. When a customer initiates a transaction, whether it’s a transfer between accounts or a payment to another individual or business, the BSB number serves as a unique identifier for the recipient’s bank and branch.

This ensures that the funds are directed to the intended destination accurately and securely. Furthermore, BSB numbers also enable the routing of funds within the banking system.

Financial institutions, such as the Commonwealth Bank, use BSB numbers to sort and process transactions efficiently. The BSB number allows banks to identify the correct branch where the funds should be directed, reducing manual effort and minimizing errors.

Topic 2: Commonwealth Bank

The Commonwealth Bank, often referred to as CommBank, is one of Australia’s largest and most trusted financial institutions. With a long history dating back to 1911, it has played a significant role in shaping the country’s banking landscape.

BSB Number: 402-632

Bank: Commonwealth Bank

Financial Institution: CST

Address: 26 Louee Street

City: Rylstone

State: NSW

Postcode: 2849

System: PEH

The Commonwealth Bank’s BSB number, 402-632, represents a specific branch within the bank’s network. This BSB number is unique to the branch located at 26 Louee Street, Rylstone, New South Wales, with the postcode 2849.

As a customer of the Commonwealth Bank, it is important to familiarize yourself with the bank’s BSB number. When receiving funds from other individuals or businesses, providing them with your BSB number ensures that the money is routed correctly to your branch.

It is also useful when initiating transfers to other bank accounts, as you will need the recipient’s BSB number to complete the transaction. Apart from facilitating fund transfers, the BSB number also helps identify the branch’s location.

In the case of the Commonwealth Bank, the BSB number provides information about the Rylstone branch in New South Wales. This can be useful when visiting the branch in person or contacting their customer service for inquiries or assistance.

In addition to BSB numbers, the Commonwealth Bank also utilizes various other systems and technologies to provide seamless banking experiences to its customers. One of these systems is the PEH system, which is used for processing electronic transactions efficiently.

This ensures that funds are transferred swiftly, securely, and with minimal downtime. Conclusion:

Understanding BSB numbers and their role in the banking system is crucial for both banking professionals and customers.

These unique identifiers enable accurate and efficient routing of funds within the Australian banking system. The Commonwealth Bank’s BSB number, 402-632, represents a specific branch located in Rylstone, New South Wales.

By familiarizing yourself with your bank’s BSB number, you can ensure that funds are directed correctly and experience a smooth banking experience. Topic 3: PEH System

The PEH system, also known as Private Electronic Home, is a proprietary electronic transaction processing system used by the Commonwealth Bank and other financial institutions in Australia.

It is a sophisticated technology platform that enables seamless and secure transfer of funds between accounts within the banking system. The PEH system plays an essential role in processing electronic transactions efficiently.

When a customer initiates a transfer or payment through online banking or other electronic channels, the PEH system processes the transaction in real-time, ensuring the accurate and timely transfer of funds. One of the key advantages of the PEH system is its ability to handle a large volume of transactions swiftly and securely.

It utilizes advanced encryption and security protocols to safeguard sensitive financial information and prevent unauthorized access. This ensures that customers can confidently engage in online banking activities without worrying about the security of their funds.

The PEH system also supports various payment methods, including direct debits, direct credits, and electronic funds transfers (EFT). It enables customers to schedule recurring payments, set up automatic transfers, and perform other convenient banking functions from the comfort of their homes or offices.

This flexibility and convenience have made the PEH system a preferred choice for many Commonwealth Bank customers. In relation to the BSB number provided (402-632), the PEH system is used to process electronic transactions associated with this particular branch of the Commonwealth Bank.

When funds are transferred to or from this branch, the PEH system ensures that the transactions are handled efficiently and securely, allowing for a smooth and hassle-free banking experience. Topic 4: Understanding BSB number structure

The BSB number structure consists of six digits separated by a hyphen in the format of XXX-XXX.

Each digit within the BSB number holds a specific significance and provides information about the bank, state, and branch associated with the number. The first two digits in the BSB number represent the bank code.

In the case of the provided BSB number (402-632), the bank code “40” corresponds to the Commonwealth Bank. This code is unique to each financial institution and is assigned by the Australian Payments Network (AusPayNet).

The third digit in the BSB number indicates the state code. This code identifies the state or territory where the branch is located.

For the BSB number (402-632), the state code “2” indicates that the branch is in New South Wales. The remaining three digits make up the branch code, which provides information about the specific branch within the state.

In this case, the branch code “632” uniquely identifies the Commonwealth Bank branch located at 26 Louee Street, Rylstone, New South Wales. By breaking down and interpreting the BSB number, one can gain valuable information about the associated bank and branch.

Understanding the structure of the BSB number allows customers to easily identify the correct branch for transactions and ensures that funds are routed accurately within the banking system. In conclusion, the PEH system is a proprietary electronic transaction processing system used by the Commonwealth Bank and other financial institutions in Australia.

It facilitates efficient and secure transfer of funds between accounts. Understanding the structure of BSB numbers is essential for correctly identifying banks and branches.

The BSB number provided (402-632) represents the Commonwealth Bank branch located at 26 Louee Street, Rylstone, New South Wales. The branch code, state code, and bank code within the BSB number provide vital information required for accurate routing of funds within the banking system.

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