Bank Code Verified

638-707, BSB Number for Heritage Bank, Toowoomba, QLD

BSB Number: 638-707

Bank: Heritage Bank

Financial Institution: HBS

Address: 400 Ruthven Street

City: Toowoomba

State: QLD

Postcode: 4350

System: PEHto BSB numbers: Identification and Routing of Funds

When it comes to the world of banking and finance, there are countless numbers and codes that are used to facilitate various transactions. One such code that plays a crucial role in the banking system is the BSB number.

In this article, we will delve into the world of BSB numbers, understanding what they are, their importance in the banking system, and how they are used for the identification and routing of funds. So grab a cup of coffee and let’s dive into the fascinating world of BSB numbers!

What are BSB numbers?

BSB stands for “Bank, State, and Branch” and refers to a unique six-digit code that is assigned to each bank and branch in Australia. Think of it as a bank’s identification number, similar to a social security number or a driver’s license number for individuals.

BSB numbers are issued by the Australian Payments Clearing Association (APCA) and are used to ensure seamless processing of financial transactions.

The importance of BSB numbers in the banking system

You might be wondering why BSB numbers are so important in the banking system. Well, the answer lies in their role in the identification and routing of funds.

BSB numbers serve as an essential element in ensuring that funds are accurately directed to the correct bank and branch.

Identification of banks and branches

Each BSB number is unique to a specific bank and branch, enabling financial institutions to identify the origin and destination of funds. This is crucial when it comes to transferring money between different banks or branches.

Without BSB numbers, it would be virtually impossible to ensure that funds are correctly routed, leading to potential errors and delays in transactions.

Routing of funds

Once a BSB number has been obtained, it is used to route funds to the intended recipient. When you initiate a financial transaction, such as transferring money to another bank account, the BSB number plays a vital role in ensuring that your funds reach the right destination.

By including the BSB number in your transaction details, you enable the banking system to accurately process and direct your funds, saving you both time and effort.

How BSB numbers are used for identification and routing of funds

Now that we understand the importance of BSB numbers in the banking system, let’s take a closer look at how they are used for the identification and routing of funds.

Identification of banks and branches

When you provide your BSB number to someone who wishes to transfer funds to your account, you are essentially giving them the information they need to identify your bank and branch. This is crucial for the seamless processing of transactions, as it enables the sender’s bank to know where to direct the funds.

Without a valid BSB number, the transaction would be impossible to complete, leading to delays and potential errors.

Routing of funds

Once a sender’s bank has the necessary BSB number, they can use this code to route the funds to the correct recipient. The BSB number acts as a sort of postal code, ensuring that the funds are accurately directed to the recipient’s bank and branch.

This is especially important when it comes to larger financial institutions that have multiple branches across different locations. Without BSB numbers, it would be incredibly challenging to ensure that funds are routed correctly, leading to potential errors and delays.


In conclusion, BSB numbers play a vital role in the banking system, serving as unique identification codes for banks and branches. They ensure the seamless processing of financial transactions by enabling accurate identification and routing of funds.

Without BSB numbers, our banking system would be far less efficient and prone to errors. So next time you need to provide your BSB number, remember how important it is in ensuring that your funds reach their intended destination effortlessly.

PEH System: The Link to BSB Numbers

In the world of banking, there are numerous systems and processes in place to ensure the smooth and secure transfer of funds. One such system is the PEH system, which stands for Payment Exchange Hub.

In this section, we will explore what the PEH system is, how it relates to the BSB number provided, and its significance in the banking industry. What is the PEH system?

The PEH system is an integral part of the banking infrastructure in Australia. It is a secure, electronic platform that facilitates the exchange of financial transactions between financial institutions.

This sophisticated system ensures that payments are processed accurately and efficiently, reducing the likelihood of errors or delays.

The PEH system and BSB numbers

Now that we understand what the PEH system is, let’s explore its relationship with the BSB number provided. The BSB number, as previously mentioned, is a unique identification code for banks and branches.

When a financial transaction occurs, the PEH system uses the BSB number to identify the originating and recipient banks, enabling the accurate routing of funds. When a customer initiates a payment, the PEH system refers to the BSB number to determine the specific financial institution responsible for processing the transaction.

Once the correct bank and branch have been identified, the PEH system then securely transfers the funds from one account to another. The BSB number serves as a critical link within the PEH system, ensuring that funds are accurately directed and processed.

The significance of the PEH system in the banking industry

The PEH system is of great significance in the banking industry for several reasons. Firstly, it provides a secure and reliable means of transferring funds between accounts.

The system’s robust infrastructure and intricate network ensure that transactions are executed without any compromise to the security of customer information or funds. Secondly, the PEH system helps to streamline the payment process by reducing manual interventions and paperwork.

By automating the transfer of funds, the system minimizes the chances of error and decreases the time required for transaction processing. This efficiency ultimately benefits both the financial institutions and their customers, as it enables faster access to funds.

Understanding BSB Number Structure: Breaking Down the Digits

Now that we have explored the importance of BSB numbers and their relation to the PEH system, let’s delve into the structure of BSB numbers. BSB numbers consist of six digits, each with its own significance.

Understanding the structure helps us interpret the provided BSB number (638-707). The first two digits: Bank identification

The first two digits of a BSB number represent the bank identification.

In the case of the provided BSB number (638-707), the bank identification is 63. Each bank has a unique identification code assigned to them, allowing the PEH system to identify the specific financial institution involved in the transaction.

The next three digits: Branch identification

The next three digits represent the branch identification. In our given BSB number (638-707), the branch identification is 870.

This code is unique to each individual branch within a banking institution, enabling the PEH system to further pinpoint where the funds need to be routed. The last digit: Check digit

The final digit of a BSB number is known as the check digit.

It is calculated based on a mathematical algorithm that helps detect any errors that may have occurred during data entry or transmission. The check digit is a security measure, ensuring that the BSB number is valid and reducing the chances of processing errors.

Interpreting the provided BSB number (638-707)

Having understood the structure and significance of the different digits within a BSB number, let us interpret the provided BSB number (638-707). The bank identification, which is represented by the first two digits (63), indicates that the financial institution associated with this BSB number belongs to the bank with the code 63.

Without further information, it is not possible to determine the specific bank name associated with this code alone. The branch identification, represented by the next three digits (870), indicates that this is the code assigned to the particular branch within the bank.

This is crucial information for the PEH system, as it helps determine the specific branch responsible for processing the transaction. Lastly, the check digit ensures the validity and accuracy of the BSB number but does not provide any specific information regarding the bank or branch.


In conclusion, the PEH system plays a significant role in the banking industry, facilitating secure and efficient payment transfers. It works hand in hand with the BSB number, which acts as a unique identification code for banks and branches.

The PEH system relies on the BSB number to determine the originating and recipient financial institutions, ensuring precise routing of funds within the banking infrastructure. Additionally, understanding the structure of a BSB number helps interpret the provided digits, allowing for a better understanding of the specific bank and branch associated with it.

With the combined efforts of the PEH system and the BSB number, financial transactions can occur seamlessly, benefiting both financial institutions and their customers.

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