Bank Code Verified

762-204, BSB Number for Commonwealth Bank, Miranda, NSW

BSB Number: 762-204

Bank: Commonwealth Bank

Financial Institution: CBA

Address: Shop G104 Westfield Kiora Rd

City: Miranda

State: NSW

Postcode: 2228

System: PEHto BSB numbers: The Backbone of the Banking System

In the world of banking, there are many complex systems and processes working tirelessly behind the scenes to ensure the smooth flow of funds from one account to another. One such crucial component of the banking system is the BSB number.

In this article, we will delve into the world of BSB numbers, understanding what they are, why they are important, and how they are used for the identification and routing of funds. What are BSB Numbers?

BSB stands for Bank State Branch, and it is a six-digit numerical code that uniquely identifies a specific bank and branch in Australia. Each bank branch is assigned a unique BSB number, serving as an essential identifier in the banking system.

BSB numbers are regulated and issued by the Australian Payments Network (AusPayNet), ensuring that they are accurate and standardized throughout the banking industry.

The Importance of BSB Numbers in the Banking System

BSB numbers play a vital role in the banking system as they serve multiple purposes, all contributing to the smooth and efficient transfer of funds. Let’s take a closer look at why BSB numbers are significant:


Identification of Banks and Branches: With numerous banks operating across Australia, BSB numbers provide a quick and reliable way to identify the specific bank and branch involved in a transaction. This identification is crucial in preventing any confusion or misrouting of funds.

2. Routing of Funds: When you initiate a payment or transfer, the BSB number acts as a routing mechanism, guiding the funds to the correct bank and branch.

Without the correct BSB number, the funds may end up in the wrong account, causing inconveniences and delays for both the sender and the recipient. 3.

Streamlined Electronic Transactions: BSB numbers are essential for facilitating electronic payments and transfers. When you make an electronic transaction, such as through internet banking or mobile banking apps, you will be prompted to enter the BSB number of the recipient.

This ensures that the funds are directed accurately and efficiently to the intended recipient. 4.

Improved Efficiency and Accuracy: By incorporating BSB numbers in the banking system, the chances of errors and misdirected funds are significantly reduced. The use of BSB numbers streamlines the process, making it faster and more accurate for banks to process transactions.

How BSB Numbers are Used for Identification and Routing of Funds

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

1. BSB Number on Bank Statements: When you receive a bank statement, you will notice that each transaction includes the BSB number of the sender or recipient.

This allows you to easily identify the specific bank and branch involved in the transaction, ensuring accuracy and transparency. 2.

Initiating a Transfer: When you want to transfer funds to another account, whether it’s within your own bank or to a different bank, you will need to provide the recipient’s BSB number. This ensures that the funds are routed correctly to the intended recipient.

3. Direct Debits and Credits: BSB numbers are also used for direct debits and credits, allowing organizations and businesses to automate payments and transactions.

By including the BSB number, the correct bank and branch are identified, enabling seamless processing. 4.

Domestic and International Transfers: Whether you are transferring funds within Australia or internationally, BSB numbers are crucial for routing the funds accurately. For international transfers, BSB numbers are used in conjunction with other codes, such as SWIFT codes, to ensure that the funds reach the correct destination.


BSB numbers are an integral part of the banking system, serving as a reliable way to identify banks and branches and ensuring the smooth routing of funds. By understanding the importance of BSB numbers and how they are used for identification and routing, you can feel confident and secure when initiating transactions.

Remember, the next time you make a payment or transfer, pay attention to the BSB number. It’s a small but mighty part of the banking system, working tirelessly to ensure that your funds reach their intended destination smoothly and efficiently.

Topic 3: PEH System: Enhancing the Efficiency of Transactions

In the world of banking and finance, efficiency is of utmost importance. That’s where the PEH system comes into play.

The abbreviation PEH stands for Primary Electronic Holder. This system is a component of the Australian banking infrastructure that ensures the smooth and secure processing of electronic transactions.

In this section, we will explore what the PEH system entails and how it relates to the BSB number provided. The PEH system acts as a central repository for bank account details, such as BSB numbers and account numbers.

It serves as a reference point for financial institutions when processing transactions, allowing for quicker and more accurate transfers of funds. The system is managed by the Australian Payments Network (AusPayNet), which ensures the integrity and security of the information stored within the PEH system.

So, how does the PEH system relate to the BSB number provided? The BSB number, in combination with the account number, is used as a unique identifier for bank accounts within the PEH system.

When initiating a transaction, the payer’s financial institution will consult the PEH system to verify the recipient’s account details, including the BSB number. This verification step is crucial to ensure that the funds are directed to the correct recipient.

The PEH system acts as a centralized database that financial institutions can access when processing transactions. It provides a secure and reliable source of information to validate account details and facilitate the smooth transfer of funds.

Without the PEH system, financial institutions would need to rely on manual processes and communication for account verification, resulting in slower and less efficient transactions. Topic 4: Understanding BSB Number Structure: Cracking the Code

Now that we have a good understanding of the importance of BSB numbers and their role in the banking system, let’s dive into the structure of BSB numbers.

A BSB number consists of six digits, each carrying its own significance within the number. The first two digits of a BSB number represent the bank code.

These digits are assigned to the bank by AusPayNet and indicate the specific financial institution associated with the BSB number. In the case of BSB number 762-204, the bank code “76” corresponds to the Commonwealth Bank.

The third digit of a BSB number is known as the state code. It identifies the state in which the branch is located.

For BSB number 762-204, the state code “2” denotes New South Wales (NSW). The next three digits make up the branch code.

This code distinguishes one branch of the bank from another within the same state. In the example BSB number 762-204, the branch code “204” corresponds to the Westfield branch located on Kiora Road in Miranda, NSW.

By breaking down the BSB number into its constituent parts, we can interpret the specific details associated with the bank and branch. In the case of BSB number 762-204, we can determine that it belongs to the Commonwealth Bank, with the Westfield branch located on Kiora Road.

This information is crucial for accurately routing funds and ensuring that transactions are processed smoothly. Understanding the structure of BSB numbers is essential for both individuals and businesses.

When initiating a transfer, it is important to input the correct BSB number to ensure that funds are directed to the intended recipient. Additionally, when receiving payments, it is essential to provide the correct BSB number to avoid any delays or misrouting of funds.

In conclusion, the structure of BSB numbers is designed to provide a standardized and efficient way to identify banks and branches within the Australian banking system. By incorporating the bank code, state code, and branch code, BSB numbers ensure accurate routing of funds and facilitate smooth electronic transactions.

Understanding the structure of BSB numbers is fundamental to conducting banking activities effectively and securely.

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