Bank Code Verified

484-118, BSB Number for Suncorp-Metway, Brisbane, QLD

BSB Number: 484-118

Bank: Suncorp-Metway

Financial Institution: MET

Address: Ops Support 36 Wickham Terrace

City: Brisbane

State: QLD

Postcode: 4000

System: PEH

Title: Understanding BSB Numbers: Vital for Effective BankingIn the vast world of banking, BSB numbers play a pivotal role in ensuring smooth and efficient transactions. These numbers are more than just a series of digits; they serve as a unique identifier and facilitate the routing of funds within the banking system.

This article aims to shed light on the importance of BSB numbers, their role in identification and routing, and specifically delve into the fascinating world of Suncorp-Metway, a leading bank in Australia. Topic 1:to BSB Numbers

BSB numbers, short for Bank-State-Branch numbers, are a seven-digit code that uniquely identifies each branch within a financial institution in Australia.

Introduced in the late 1960s, BSB numbers were designed to improve accuracy and efficiency in banking processes. They are crucial for various purposes, including identification of banks, routing of funds, and enabling electronic transactions.

Identification: BSB numbers enable banks and financial institutions to differentiate branches within their network. This helps in accurately identifying the bank and branch involved in a specific transaction, ensuring transparency and accountability.

Each BSB number is unique, combining information about the bank (first two digits), its location (next two digits), and the specific branch (last three digits). Routing of Funds: BSB numbers act like a compass, directing funds to the correct destination.

When you provide your BSB number along with your account number, you enable the seamless transfer of funds to and from your specific branch. This accurate routing reduces the chances of errors and ensures that your money reaches the intended recipient without delays.

Topic 2: Suncorp-Metway

Suncorp-Metway, commonly known as Suncorp, is one of Australia’s leading banks and a notable user of BSB numbers for identification and routing. With a rich history tracing back to 1902, Suncorp has become synonymous with exceptional banking services and customer satisfaction.

Branch Location: Suncorp-Metway’s headquarters is located at 36 Wickham Terrace in Brisbane, Queensland. This central location ensures easy access to vital financial services for residents and businesses alike.

The BSB number assigned to Suncorp-Metway is 484-118, reflecting its banking details for identification and routing purposes. Supporting Operations: The Ops Support division of Suncorp-Metway coordinates a wide range of essential services, including customer support, transaction processing, and financial operations.

Situated at the Wickham Terrace address, this division plays a crucial role in maintaining the smooth functioning of the bank’s operations. Financial Institution: Suncorp-Metway belongs to the MET group, which stands for Metropolitan Bank Limited.

The MET group encompasses various entities, including banking, insurance, and wealth management divisions, offering customers a comprehensive range of financial solutions. Conclusion:

Understanding the importance of BSB numbers in the banking system and their role in identification and routing is essential for anyone looking to conduct secure and efficient transactions.

As exemplified by Suncorp-Metway, these numbers ensure accuracy and facilitate seamless fund transfers, guaranteeing that your hard-earned money ends up where it needs to be. So, next time you make a payment or transfer funds, remember the significance of those seven digits that lay the foundation of modern banking.

Topic 3: PEH System

The PEH system, standing for Primary Electronic Housekeeping, is an integral part of the Australian banking system. It is responsible for the consolidation and management of BSB numbers, ensuring the smooth and accurate routing of funds.

The PEH system acts as a central database that links BSB numbers to financial institutions, allowing for efficient and secure electronic transactions. The PEH system plays a crucial role in the identification and processing of transactions.

When a customer initiates a transfer of funds, their BSB number is used to determine the recipient’s financial institution and branch. The PEH system ensures that the funds are routed correctly, minimizing delays and errors.

This system is continuously updated to reflect changes in banks, branches, and BSB numbers. It maintains an accurate record of financial institutions’ details, ensuring that BSB numbers remain up to date and functional.

This dynamic nature of the PEH system allows for a flexible and responsive banking system, adapting to the evolving needs of customers and financial institutions. Banks rely on the PEH system to validate BSB numbers during the transaction process.

When a BSB number is entered, it is checked against the database to confirm if it corresponds to an existing financial institution and branch. This verification step helps prevent any unauthorized or erroneous transactions, adding an extra layer of security and peace of mind for customers.

In the case of the provided BSB number (484-118), the PEH system would store the relevant information linked to Suncorp-Metway as a financial institution. This allows for seamless fund transfers to and from Suncorp-Metway’s branch located at 36 Wickham Terrace in Brisbane, Queensland.

Topic 4: Understanding BSB Number Structure

BSB numbers follow a specific format and structure, consisting of seven digits. Each digit carries a specific significance in identifying the bank, location, and branch associated with the number:

1.

The first two digits: The initial two digits of a BSB number represent the bank code. These digits indicate the financial institution the BSB number is associated with.

For example, the BSB number 484-118 corresponds to Suncorp-Metway. 2.

The next two digits: The third and fourth digits of a BSB number represent the state code. This indicates the location of the bank or branch within Australia.

In the case of the BSB number 484-118, the digits “84” signify Queensland (QLD). 3.

The last three digits: The final three digits of a BSB number represent the branch code. These digits differentiate between different branches within the same financial institution.

For the BSB number 484-118, the digits “118” identify the specific branch of Suncorp-Metway at 36 Wickham Terrace in Brisbane. To interpret the provided BSB number (484-118) based on its structure, we can break it down as follows:

– The first two digits, “48,” signify that it belongs to Suncorp-Metway.

– The following two digits, “4,” indicate the state of Queensland (QLD). – The last three digits, “118,” identify the specific branch located at 36 Wickham Terrace in Brisbane.

Understanding the structure and meaning of BSB numbers not only enables efficient fund routing but also provides transparency in distinguishing between different banks, locations, and branches. This aids in accurate identification and smooth processing of transactions within the Australian banking system.

In conclusion, the PEH system and the structure of BSB numbers are vital components of the Australian banking system. The PEH system ensures efficient routing and validation of BSB numbers, enabling seamless fund transfers.

Understanding the structure of BSB numbers allows for a deeper comprehension of their significance, facilitating accurate identification and processing of transactions. By unraveling the mysteries behind BSB numbers and the underlying systems, we can navigate the world of banking with confidence and clarity.

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