BSB Number: 484-392
Bank: Suncorp-Metway
Financial Institution: MET
Address: 36 Wickham Terrace
City: Brisbane
State: QLD
Postcode: 4000
System: PEHto BSB numbers: A Crucial Element of the Banking System
In the vast world of banking, there are numerous codes and numbers that serve as the backbone of financial transactions. One of these essential components is the BSB number, also known as the Bank/State/Branch number.
BSB numbers play a crucial role in the identification and routing of funds, ensuring seamless transfers between different financial institutions. In this article, we will delve into the significance of BSB numbers, discussing their importance in the banking system and how they are utilized for identification and routing purposes.
Why BSB Numbers Matter
BSB numbers are vital for banks and customers alike as they facilitate the efficient transfer of funds. Each BSB number consists of six digits, with the first two representing the bank, the next two indicating the state or territory, and the last two signifying the specific branch of the bank.
This unique combination of digits ensures accurate identification and routing of funds, enabling hassle-free transactions.
Identification through BSB Numbers
BSB numbers serve as a crucial identification tool within the banking system. When initiating a transfer or payment, the sender provides the recipient’s BSB number along with their account details.
This combination of information proves instrumental in accurately identifying the intended recipient, minimizing errors or misdirected funds.
Routing Funds with BSB Numbers
Apart from identification, BSB numbers are instrumental in routing funds smoothly between different financial institutions. When a sender initiates a transfer, the BSB number of the recipient’s bank aids in directing the funds to the correct destination.
With millions of transactions occurring daily, BSB numbers ensure that the money reaches the intended recipient promptly and securely. Suncorp-Metway: A Closer Look
Now that we understand the significance of BSB numbers, let’s turn our attention to a specific bank that utilizes BSB numbers extensively: Suncorp-Metway.
Suncorp-Metway, commonly known as Suncorp Bank, is one of Australia’s leading financial institutions. Established in 1902, the bank has a rich history of providing high-quality banking services to customers across the country.
With a wide range of products and services, Suncorp-Metway caters to the diverse financial needs of individuals, businesses, and communities. Addressing key points of focus:
BSB Number: 484-392
– Suncorp-Metway’s BSB number is 484-392.
Like other BSB numbers, this unique code aids in the accurate identification and routing of funds within the banking system. – The first two digits, 484, indicate that the BSB number belongs to Suncorp-Metway.
– The next two digits, 39, signify the state or territory where the branch is located. In this case, it is Queensland (QLD).
– The last two digits, 2, represent the specific branch of Suncorp-Metway. Bank Address: 36 Wickham Terrace, Brisbane, QLD, 4000
– Suncorp-Metway’s branch, associated with the BSB number 484-392, is located at 36 Wickham Terrace in Brisbane, Queensland.
– The mentioned address provides customers with a physical location to visit if they need assistance or wish to conduct in-person banking. System: PEH
– The code “PEH” refers to the payment event handling system used by Suncorp-Metway.
– This system allows for swift and secure processing of transactions, ensuring the efficient transfer of funds. In conclusion, BSB numbers are a vital element of the banking system, serving as an identification and routing tool for funds.
Being aware of the significance and proper utilization of BSB numbers enables customers to engage in seamless banking transactions. Furthermore, understanding specific details, such as Suncorp-Metway’s BSB number (484-392) and the associated branch address, ensures accurate routing of funds within the bank.
Stay informed and make the most of the banking system’s infrastructure by comprehending the importance of BSB numbers. PEH System: Enhancing Banking Efficiency with Payment Event Handling
In the vast realm of the banking system, efficient payment processing is a key priority.
To achieve this, banks employ various systems and technologies that streamline the transfer of funds. One such system is the PEH system, which stands for Payment Event Handling.
In this section, we will delve into what the PEH system is, how it relates to the BSB number provided, and how it enhances banking efficiency.
Understanding the PEH System
The Payment Event Handling (PEH) system is a sophisticated infrastructure employed by financial institutions like Suncorp-Metway to process and handle transactions swiftly and securely. This system facilitates the successful routing and delivery of funds between different bank accounts, ensuring that customer payments are executed accurately and efficiently.
The Difference between BSB Numbers and the PEH System
While the PEH system and BSB numbers are interconnected in the banking system, they serve different purposes. BSB numbers act as identifiers for banks and branches, aiding in the accurate routing of funds, while the PEH system focuses on managing the payment event process itself.
The Role of the PEH System
The primary function of the PEH system is to handle payment events, which include various types of transactions such as transfers between accounts, bill payments, direct debits, and electronic fund transfers. The system acts as a central hub, receiving and processing these payment events, ensuring the prompt and secure transfer of funds.
The PEH system plays a crucial role in coordinating the multiple touchpoints involved in a payment event. From the initial request by the sender to the final deposit in the recipient’s account, the PEH system ensures that every step is tracked, authorized, and completed accurately.
It also handles any necessary validations, verifications, and checks to safeguard against fraudulent activities.
Streamlining the Payment Event Process
One of the significant advantages of the PEH system is its ability to automate the payment event process, replacing manual intervention and reducing the potential for human error. By leveraging advanced technologies and algorithms, the PEH system optimizes the flow of funds, making banking transactions seamless and efficient.
When a customer initiates a payment event, such as a transfer, the PEH system comes into action. It validates the BSB number provided by the sender, ensuring its correctness and adherence to the established structure.
The PEH system then examines the account details of the sender and recipient, confirming their validity and availability of funds. Once all necessary checks are completed, the system orchestrates the movement of funds, directing them to the appropriate recipient’s account.
BSB Number Structure: Decoding the Digits
To fully understand how the BSB number provided (484-392) is broken down and interpreted, let’s take a closer look at the structure and significance of each digit within a typical BSB number. The first two digits: Bank Identification
The first two digits of a BSB number represent the bank or financial institution.
In the case of the provided number (484-392), the digits “48” signify Suncorp-Metway as the respective bank. The second two digits: State or Territory Identification
Following the bank identification, the next two digits in a BSB number indicate the state or territory where the branch is located.
For the given number (484-392), the digits “39” represent Queensland (QLD). The last two digits: Branch Identification
The final two digits in a BSB number signify the specific branch within the chosen bank.
In the case of the BSB number (484-392), the digits “2” pinpoint the particular branch associated with Suncorp-Metway.
How the BSB Number Relates to the PEH System
The BSB number (484-392) provided in earlier sections relates to the PEH system in a fundamental way. When a customer initiates a payment event using this BSB number, the PEH system recognizes the digits “484,” identifying the bank as Suncorp-Metway.
It then proceeds to direct the payment within the PEH infrastructure, ensuring the accurate routing of funds to the specific branch identified by the digits “392.” The PEH system’s role is to validate the BSB number, confirm the availability of funds, and facilitate a successful payment event within the bank’s network. In conclusion, the PEH system, or Payment Event Handling system, is a critical component of the banking system.
It enhances banking efficiency by automating payment events and ensuring the accurate routing and delivery of funds. When combined with the BSB number, the PEH system plays a vital role in managing payment events, validating account details, and safeguarding against potential errors or fraudulent activities.
A thorough understanding of both the PEH system and the structure of BSB numbers empowers customers and financial institutions to engage in seamless, secure, and efficient banking transactions.