Bank Code Verified

762-147, BSB Number for Commonwealth Bank, Bankstown, NSW

BSB Number: 762-147

Bank: Commonwealth Bank

Financial Institution: CBA

Address: P8 L3 Bankstown Central Nth Tce

City: Bankstown

State: NSW

Postcode: 2200

System: PEHWhen it comes to the world of banking, there are numerous complex systems and processes in place to ensure smooth operations. One such system is the identification and routing of funds, which is facilitated by a unique code known as the BSB number.

In this article, we will explore what exactly BSB numbers are, their importance in the banking system, and how they are used for identification and routing of funds. Specifically, we will focus on the BSB number 762-147, which belongs to the Commonwealth Bank (CBA) branch located in Bankstown, NSW.

Topic 1:to BSB numbers

In the vast realm of banking, BSB numbers play a crucial role. Standing for Bank-State-Branch, BSB numbers are unique six-digit codes assigned to every branch of a financial institution in Australia.

These numbers serve as an identifier for individual branches and allow for the efficient routing of funds between banks. BSB numbers are of utmost importance in the banking system as they ensure that funds are accurately directed to the correct recipient.

They act as a vital link between different financial institutions, enabling seamless electronic transfers between banks, and significantly reducing the chances of errors and fraud. Topic 2: Commonwealth Bank

The Commonwealth Bank is one of the most prominent and trusted financial institutions in Australia, and the Commonwealth Bank branch associated with the BSB number 762-147 is located in Bankstown, NSW.

Let’s take a closer look at this branch and its significance. Address: P8 L3 Bankstown Central Nth Tce, Bankstown, NSW, 2200

The Commonwealth Bank branch in Bankstown is situated in a prime location within Bankstown Central.

This bustling hub brings together various banking services and provides customers with easy access to their financial needs.

The Commonwealth Bank offers a wide range of services, including personal banking, business banking, loans, insurance, and wealth management.

With its diverse portfolio, the bank caters to the needs of individuals, families, and businesses, ensuring that customers have all their financial requirements met under one roof. With the BSB number 762-147, the Bankstown branch of the Commonwealth Bank can efficiently process and handle funds transfers locally and internationally.

This facility serves as a vital bridge between Bankstown and other branches of the bank, ensuring that customers can conveniently transfer funds and carry out transactions without any hassle. Not only does the Commonwealth Bank in Bankstown provide comprehensive banking services, but it also serves as a community pillar.

It actively supports local initiatives, businesses, and events, striving to make a positive impact on the Bankstown community.

Conclusion:

In conclusion, BSB numbers are an essential component of the banking system.

They enable accurate identification and routing of funds between banks, ensuring efficient and secure transfers. The BSB number 762-147, assigned to the Commonwealth Bank branch in Bankstown, NSW, plays a crucial role in facilitating financial transactions and meeting the diverse needs of customers.

With its prime location, comprehensive range of services, and commitment to community development, the Bankstown branch of Commonwealth Bank stands as a trusted and convenient banking partner for residents and businesses in the area. Topic 3: PEH System

In the world of banking, there are various systems and protocols in place to ensure smooth operations and secure transactions.

One such system is the PEH system, which stands for Payment Exchanges and Hubs. This system plays a vital role in the processing and routing of funds, and it is closely related to the BSB number provided.

The PEH system is an electronic network that connects financial institutions and facilitates the exchange of financial messages and data. It acts as a centralized hub where transactions are received, validated, and forwarded to the relevant banks for processing.

By utilizing the PEH system, banks can securely transfer funds, conduct payments, and provide other financial services. The BSB number, including the BSB number 762-147, is an integral part of the PEH system.

It serves as a unique identifier for each branch of a financial institution within the system. When a customer initiates a transaction, the BSB number helps the PEH system accurately route the funds to the intended recipient’s branch.

Topic 4: Understanding BSB number structure

BSB numbers have a consistent structure and format, consisting of six digits arranged in a specific order. Each digit within the BSB number holds significance and provides valuable information about the financial institution and branch.

Let’s break down the BSB number 762-147 and interpret its various parts. The first two digits of the BSB number, 76, represent the bank or financial institution within the PEH system.

In this case, the number 76 corresponds to the Commonwealth Bank. This two-digit code is assigned to each financial institution registered within the system, enabling accurate identification and routing.

The next two digits, 2-1, specify the state or territory in which the branch is located. In this example, the number 2 represents New South Wales (NSW), indicating that the Bankstown branch of the Commonwealth Bank is located in NSW.

Finally, the last two digits, 47, indicate the specific branch within the state. This number serves as a unique identifier for the Bankstown Central branch of the Commonwealth Bank within NSW.

By understanding the format and structure of BSB numbers, individuals and businesses can easily identify the financial institution, state, and specific branch associated with a particular BSB number. This knowledge is particularly useful when initiating transactions or verifying the details of a recipient’s bank account.

By combining the knowledge of the PEH system and the structure of the BSB number, customers can have confidence in the accuracy and security of their financial transactions. With the BSB number 762-147 belonging to the Commonwealth Bank branch in Bankstown, NSW, individuals and businesses can confidently use this code to route funds to the correct destination within the PEH system.

In conclusion, the PEH system and BSB numbers are fundamental components of the banking system in Australia. The PEH system, through its payment exchanges and hubs, facilitates the secure transfer of funds and other financial transactions between banks.

The BSB number, with its unique structure and format, plays a vital role in identifying and routing funds to the correct branch within the system. The BSB number 762-147 belonging to the Commonwealth Bank branch in Bankstown, NSW highlights the importance of these numbers in ensuring accurate and efficient financial transactions.

By understanding the PEH system and the structure of BSB numbers, customers can navigate the world of banking with confidence and trust in the security and reliability of their transactions.

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