Bank Code Verified

484-040, BSB Number for Suncorp-Metway, Brisbane, QLD

BSB Number: 484-040

Bank: Suncorp-Metway

Financial Institution: MET

Address: 36 Wickham Terrace

City: Brisbane

State: QLD

Postcode: 4000

System: PEHBSB numbers are a fundamental part of the Australian banking system, serving as a unique identifier for each bank and branch. They play a crucial role in the identification and routing of funds, ensuring that transactions are processed accurately and efficiently.

In this article, we will delve into the importance of BSB numbers and explore how they are used in the banking system. Furthermore, we will take a closer look at Suncorp-Metway, a prominent financial institution in Australia, and discuss its BSB number and location.

Topic 1:to BSB numbers:

BSB numbers, short for Bank State Branch numbers, are a six-digit numerical code used in the Australian banking system. Each number is comprised of three components: the first two digits represent the bank, the third digit indicates the state or territory, and the last three digits correspond to the specific branch.

These unique codes are allocated to each bank by the Australian Payments Network (AusPayNet), ensuring consistency and reliability in financial transactions. The importance of BSB numbers lies in their role as an identifier and locator within the banking system.

When initiating a transaction, whether it is a deposit, withdrawal, or transfer, the BSB number is essential for directing the funds to the correct bank and branch. It acts as a routing number, ensuring that funds reach the intended recipient accurately and securely.

Without BSB numbers, transferring money between different banks would be a challenging and error-prone process. BSB numbers also facilitate the efficient processing of cheques.

When writing a cheque, it is crucial to include the correct BSB number for the recipient’s bank, as this ensures that the funds are deposited into the correct account. Additionally, BSB numbers are often required when setting up automatic payments or direct debits, ensuring that recurring payments are processed accurately and without delays.

Topic 2: Suncorp-Metway:

Suncorp-Metway, commonly known as Suncorp, is a leading Australian financial institution that offers a wide range of banking, insurance, and investment services. Established in 1902, Suncorp has grown to become one of Australia’s largest banks, serving millions of customers nationwide.

With its headquarters located in Brisbane, Queensland, Suncorp has a strong presence in the state and throughout the country. Suncorp-Metway’s BSB number is 484-040, which falls within the range allocated to Suncorp by AusPayNet.

This BSB number uniquely identifies Suncorp and its branch located at 36 Wickham Terrace in Brisbane. The BSB number ensures that financial transactions involving Suncorp-Metway are processed accurately and efficiently.

Located in the heart of Brisbane, Suncorp-Metway’s branch at 36 Wickham Terrace offers a variety of banking services to customers. From personal banking, including everyday banking, savings accounts, and loans, to business banking and insurance services, Suncorp-Metway caters to a diverse range of customers’ needs.

The branch’s convenient location makes it easily accessible for those residing or working in Brisbane’s central business district. In addition to its physical branch network, Suncorp-Metway provides customers with the convenience of online and mobile banking.

Through its user-friendly platforms, customers can access their accounts, transfer funds, pay bills, and manage their finances on-the-go. These digital channels leverage the BSB number system to ensure that transactions are processed accurately and securely, regardless of the customer’s location.

Conclusion:

In conclusion, BSB numbers are an integral part of the Australian banking system, serving as a unique identifier and routing tool. They are crucial in ensuring the accurate and efficient processing of financial transactions, such as deposits, withdrawals, transfers, and cheque payments.

Suncorp-Metway, a prominent financial institution in Australia, utilizes the BSB number 484-040 for its branch located at 36 Wickham Terrace in Brisbane. Whether banking in person or through online platforms, understanding the role of BSB numbers enables individuals and businesses to navigate the banking system effectively and securely.

Topic 3: PEH System:

The PEH system, an abbreviation for Primary Electronic Clearing House, is an automated clearing system utilized in Australia for the processing and settlement of electronic transactions. It plays a crucial role in facilitating the smooth transfer of funds between banks and financial institutions.

The PEH system is closely linked to BSB numbers, as it relies on these unique identifiers to accurately route funds during electronic transactions. With the advent of electronic banking and digital payment methods, the PEH system has become an essential component of the Australian banking system.

It ensures the timely and secure transfer of funds, allowing individuals and businesses to make payments and receive funds reliably. The combination of BSB numbers and the PEH system enables quick and efficient routing of electronic payments, reducing the risk of errors and delays.

When initiating an electronic transaction, such as a direct deposit or an electronic transfer, the sender provides their bank with the recipient’s BSB number, account number, and the amount to be transferred. The sender’s bank then utilizes the PEH system to process and route the funds to the recipient’s bank.

The BSB number is a critical piece of information used by the PEH system to accurately identify the recipient’s bank and branch. The PEH system, through its integration with BSB numbers, ensures that funds reach the correct destination.

It verifies the validity of BSB numbers and performs automated checks to confirm the accuracy of the account details. By utilizing this system, the risk of funds being transferred to the wrong account is minimized, promoting trust and confidence in electronic payment methods.

Topic 4: Understanding BSB number structure:

The format and structure of BSB numbers are standardized in Australia, consisting of six digits that are grouped into three components – the bank, state or territory, and branch. Each component conveys specific information that aids in identifying and routing funds accurately.

The first two digits of a BSB number represent the bank. These digits are assigned by the Australian Payments Network (AusPayNet) and uniquely identify each bank.

For example, the BSB number 484-040 corresponds to Suncorp-Metway. The third digit indicates the state or territory.

It plays a crucial role in routing funds within a specific location. This digit allows for efficient processing and routing of funds within the same state or territory, reducing the risk of delays or errors in transactions.

In the case of the BSB number 484-040, the third digit is 4, which corresponds to Queensland (QLD). The last three digits make up the branch component of the BSB number.

These digits identify the specific branch of the bank. Every branch within a bank is allocated a unique three-digit code, allowing for precise identification and routing of funds.

In the BSB number 484-040, the last three digits, 040, represent the branch located at 36 Wickham Terrace in Brisbane. The BSB number 484-040 for Suncorp-Metway in Brisbane can be broken down and interpreted as follows:

– The first two digits, 48, identify the bank as Suncorp-Metway.

– The third digit, 4, indicates the location within Queensland (QLD). – The last three digits, 040, specify the branch at 36 Wickham Terrace in Brisbane.

By understanding the structure and significance of each component within a BSB number, individuals and businesses can accurately interpret and utilize these unique identifiers for banking and financial transactions. It ensures that funds are directed to the correct bank and branch, minimizing errors and delays in the processing of payments.

In conclusion, the PEH system is a crucial part of the Australian banking system, facilitating the secure and efficient transfer of electronic transactions. It relies on BSB numbers to accurately identify and route funds between banks and financial institutions.

The standardized format and structure of BSB numbers enable precise identification of banks, states or territories, and branches. Understanding the structure of BSB numbers empowers individuals and businesses to navigate the banking system confidently, ensuring that transactions are processed accurately and efficiently.

Popular Posts