Bank Code Verified

734-142, BSB Number for Westpac Bank, Toowoomba, QLD

BSB Number: 734-142

Bank: Westpac Bank

Financial Institution: WBC

Address: ShGF088 Clifford Grdns S/C Anzac Av

City: Toowoomba

State: QLD

Postcode: 4350

System: PEHto BSB numbers: What are they and why are they important? When it comes to banking, there are many terms and numbers that can seem overwhelming and confusing.

One such number is the BSB number. BSB stands for Bank-State-Branch, and it is a unique identifier for every bank branch in Australia.

These numbers play a crucial role in the efficient functioning of the banking system and ensure that funds are directed to the correct destination.

Identification and Routing of Funds

One of the primary functions of BSB numbers is to identify and route funds to the appropriate bank branch. When you make a transfer or payment, the BSB number helps the banking system determine which bank the funds should be sent to and which branch within the bank should receive the funds.

This allows for smooth and accurate processing of transactions, ensuring that money reaches its intended recipient in a timely manner. BSB numbers consist of six digits.

The first two digits represent the bank’s code, which is assigned by the Australian Payments Clearing Association (APCA). The third digit indicates the state where the bank branch is located, and the last three digits identify the specific branch.

This combination of numbers helps distinguish between different banks and branches, minimizing the chance of errors or misdirected funds. The importance of BSB numbers extends beyond just identification.

They also play a key role in electronic funds transfers (EFTs) and direct debits. When you set up an EFT or authorize a direct debit, you need to provide the recipient’s BSB number.

This ensures that funds are transferred to the correct account and that payments are processed accurately. Without the correct BSB number, transactions may be delayed or even fail to go through.

BSB numbers are also used in clearing processes to settle interbank transactions. During the clearing process, funds are reconciled between different banks, and the BSB number is used to identify the receiving bank and branch.

This allows for seamless transfers between different financial institutions, facilitating a smooth flow of funds within the banking system. In addition to identification and routing, BSB numbers provide an added layer of security.

By using specific numbers to designate each bank branch, the system can quickly detect any discrepancies or abnormalities. If a BSB number is incorrect or doesn’t match the intended bank branch, the transaction can be flagged as potentially suspicious, protecting both banks and customers from fraudulent activity.


BSB numbers are a vital part of the Australian banking system. They serve as unique identifiers for each bank branch and play a crucial role in the identification and routing of funds.

By accurately directing payments and transfers, BSB numbers ensure that money reaches its intended destination efficiently and securely. So the next time you make a transaction, remember the importance of those six-digit numbers, and rest assured that your funds are in safe hands.

Topic 3: PEH System

In the world of banking and finance, there are various systems and codes that help streamline operations and ensure accurate transactions. One such system is the PEH system.

PEH stands for Payment Event Handling, and it is an integral part of the Australian banking system. In this section, we will explore what the PEH system entails and how it relates to the provided BSB number.

The PEH system is a centralized process that handles payments and transfers between financial institutions in Australia. It acts as a hub where transactions are processed, cleared, and settled.

The system is responsible for handling a vast volume of payments daily, ensuring the smooth functioning of the banking system. When it comes to BSB numbers, the PEH system plays a crucial role in the identification and routing of funds.

When a payment or transfer is initiated, the PEH system receives the transaction and checks the BSB number provided to determine the recipient bank and branch. It validates the BSB number against its database to ensure accuracy and completeness.

If the BSB number is valid, the system routes the funds to the designated bank and branch. The PEH system also performs various checks and validations to ensure the integrity of transactions.

It verifies the sender’s account details, including account number and BSB number, before processing the payment. These checks help prevent errors and fraudulent activities, safeguarding the interests of both banks and customers.

Furthermore, the PEH system plays a vital role in real-time payments and settlements. It allows for instant transfers between participating financial institutions, enabling individuals and businesses to access their funds in a matter of seconds.

This real-time capability has revolutionized the way we conduct transactions, providing convenience and efficiency to customers. In summary, the PEH system is a critical component of the Australian banking system.

It acts as a central hub for payment processing, ensuring accurate routing and settlement of funds. By validating BSB numbers and performing necessary checks, the system enhances the security and efficiency of transactions, contributing to a reliable and robust banking infrastructure.

Topic 4: Understanding BSB Number Structure

BSB numbers, as mentioned earlier, are a unique identifier for bank branches in Australia. They consist of six digits and have a specific format.

In this section, we will delve into the structure of BSB numbers and explain the significance of each digit. Let’s break down the provided BSB number 734-142 to understand its composition.

The first two digits of a BSB number represent the bank code. In this case, the bank code is “73.” Each bank is assigned a unique bank code by the Australian Payments Clearing Association (APCA).

It helps distinguish one bank from another within the banking system. The third digit of a BSB number denotes the state where the bank branch is located.

In the given BSB number, the third digit is “4,” indicating that the branch is in Queensland (QLD). This digit allows for further classification and routing of funds within a particular state.

The last three digits of a BSB number identify the specific branch within the bank. In the provided BSB number, the last three digits are “142.” These digits are unique to each branch and further ensure accurate identification and routing of funds.

They help differentiate between various branches of a bank located within the same state. By analyzing the given BSB number 734-142, we can deduce that it corresponds to Westpac Bank, located in Queensland.

The first two digits “73” indicate Westpac Bank, while the third digit “4” represents Queensland. The final three digits, “142,” pinpoint the specific branch within Westpac Bank.

Understanding the structure of BSB numbers allows for easy interpretation and identification of bank branches. Each digit serves a specific purpose, providing essential information for the efficient routing and processing of funds.

In conclusion, BSB numbers have a specific structure consisting of six digits. They include the bank code, state code, and branch code.

The PEH system plays a crucial role in utilizing BSB numbers for accurate identification and routing of funds. By understanding the structure and significance of BSB numbers, individuals and businesses can ensure smooth transactions and efficient banking experiences.

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