BSB Number: 482-145
Bank: Suncorp-Metway
Financial Institution: MET
Address: Level 2 96 Phillip Street
City: Parramatta
State: NSW
Postcode: 2150
System: PE_x000D_BSB numbers are a crucial part of the banking system. These unique identifiers play a vital role in ensuring that funds are correctly routed and transactions are processed accurately.
In this article, we will explore what BSB numbers are, why they are important, and how they are used for identification and routing of funds. We will also take a closer look at Suncorp-Metway, a prominent financial institution in Australia.
Topic 1:to BSB numbers
BSB stands for Bank-State-Branch, and it is a six-digit number used in Australia to identify individual banks and branches. Each BSB number is unique to a financial institution and acts as a code that helps in the accurate routing of funds.
BSB numbers are assigned by the Australian Payments Clearing Association (APCA), and they are an essential part of the banking infrastructure in the country. BSB numbers are necessary because they ensure that funds are sent to the correct bank and branch.
When making a transaction, whether it is a direct deposit, electronic transfer, or payment, the BSB number is used to identify the recipient’s bank. This helps in avoiding any confusion or misrouting of funds.
Additionally, BSB numbers are also used by financial institutions to identify and organize their own internal records. For example, if you want to transfer money to a friend’s bank account, you would need their BSB number along with their account number.
The BSB number tells your bank where the funds need to be sent, while the account number specifies the specific recipient within that bank. Topic 2: Suncorp-Metway
Suncorp-Metway, commonly known as Suncorp, is a major Australian financial institution that offers a range of banking, insurance, and wealth management services.
With its headquarters in Queensland, Suncorp has a strong presence across the country, providing reliable and customer-centric financial solutions. Navigating through the banking system can sometimes be complex, but Suncorp aims to simplify the process for its customers.
By using BSB numbers, Suncorp ensures that funds are accurately routed to their intended destinations. For customers of Suncorp, understanding and using BSB numbers correctly is important to ensure smooth and efficient transactions.
Founded in 1902, Suncorp has grown to become one of Australia’s largest banks, serving millions of customers nationwide. It operates through various channels, including branches, online banking, and mobile applications, making banking accessible and convenient for its customers.
Suncorp is committed to providing exceptional customer service and tailored financial solutions. It understands the importance of BSB numbers in the banking system and ensures that its customers have easy access to this information.
Whether through its website, customer service helpline, or online banking platform, Suncorp provides clear instructions and guidance on how to find and use BSB numbers correctly.
Conclusion
In conclusion, BSB numbers are a vital part of the banking system in Australia. These unique identifiers help in the accurate identification and routing of funds, ensuring that transactions are processed correctly.
Suncorp-Metway, with its wide range of financial services, recognizes the importance of BSB numbers and provides its customers with the necessary information to navigate the system effectively. By understanding and using BSB numbers correctly, customers can ensure seamless and efficient banking transactions.
So, whether you’re making a direct deposit, transferring money, or making a payment, remember the significance of BSB numbers in the Australian banking system. Topic 3: PE System
In the world of banking in Australia, the PE system plays a crucial role in the identification and processing of transactions.
PE stands for Payment Entry, and it is a term used to describe the mechanism by which payments are initiated and processed. In conjunction with BSB numbers, the PE system ensures that funds reach the correct recipients efficiently and accurately.
The PE system is a comprehensive framework that enables the secure and efficient transmission of payment information between financial institutions. It allows for the transfer of funds through various channels, including electronic transfers, direct deposits, and other payment mechanisms.
This system facilitates the seamless movement of money from one account to another, playing a key role in the overall stability and functioning of the banking system. When you initiate a payment, whether it is a transfer to a friend’s account or a bill payment, the PE system comes into play.
It uses the BSB number, along with the recipient’s account number, to ensure that the funds are routed to the correct bank, branch, and account. The BSB number acts as a crucial piece of information that helps the PE system determine the destination of the payment.
For example, let’s consider the BSB number provided earlier: 482-145. The first two digits, 48, represent the bank code, which identifies the financial institution.
In this case, the bank code corresponds to Suncorp-Metway. The following two digits, 2-1, represent the state code, indicating the state in which the bank branch is located.
In this case, it is New South Wales (NSW). The last two digits, 45, represent the branch code, indicating the specific branch of the bank.
In this case, the branch is located at Level 2, 96 Phillip Street in Parramatta. The branch code is unique to each individual branch and helps in the accurate routing of funds within the bank.
By combining the BSB number with the PE system, banks and financial institutions can ensure that payments are processed accurately and efficiently. The PE system validates the BSB number to ensure its authenticity and correctness before initiating the payment transfer.
This verification process eliminates the risk of misdirected payments and helps in maintaining the integrity of the banking system. Topic 4: Understanding BSB number structure
BSB numbers in Australia follow a specific format and structure.
They consist of six digits, which are further divided into three components – the bank code, the state code, and the branch code. Each component serves a unique purpose and helps in the identification and routing of funds within the banking system.
The bank code, represented by the first two digits of the BSB number, identifies the financial institution. It indicates the specific bank where the recipient’s account is held.
In the case of the BSB number 482-145, the bank code is 48, which corresponds to Suncorp-Metway. The state code, represented by the third and fourth digits of the BSB number, indicates the state or territory in which the bank branch is located.
It helps in narrowing down the location of the branch within the country. In the BSB number 482-145, the state code is 2-1, indicating New South Wales (NSW).
The branch code, represented by the last two digits of the BSB number, identifies the specific branch of the bank. It differentiates between different branches of the financial institution and helps in routing funds to the correct location.
In the BSB number 482-145, the branch code is 45, signifying the branch located at Level 2, 96 Phillip Street in Parramatta. Understanding the structure of BSB numbers is essential for accurate payment processing.
By analyzing the different components of a BSB number, one can determine the financial institution, the specific branch location, and even the state in which it operates. This information is crucial for ensuring that payments are directed to the intended recipients within the banking system.
In summary, BSB numbers are an integral part of the Australian banking system, enabling the accurate identification and routing of funds. When combined with the PE system, BSB numbers ensure that payments are initiated and processed efficiently.
Understanding the structure of BSB numbers, as well as their relationship with the PE system, is crucial for individuals and businesses alike to ensure smooth and secure financial transactions.