Bank Code Verified

762-735, BSB Number for Commonwealth Bank, Erina, NSW

BSB Number: 762-735

Bank: Commonwealth Bank

Financial Institution: CBA

Address: Sh T112 Erina Fair S/Ctr Karalta Rd

City: Erina

State: NSW

Postcode: 2250

System: PEHto BSB Numbers

In the vast world of banking, various numbers and codes play a crucial role in ensuring the smooth flow of transactions. One such number is the BSB number.

But what exactly are BSB numbers, and why are they so important in the banking system? In this article, we will dive into the realm of BSB numbers, exploring their purpose, significance, and how they are used for the identification and routing of funds.

Understanding BSB Numbers

BSB stands for Bank State Branch, and it is a unique six-digit number that identifies a specific bank branch within Australia. This number is essential for various banking transactions, including electronic funds transfers, direct debits, and bill payments.

Just like a fingerprint distinguishes each individual, a BSB number distinguishes each bank branch within the Commonwealth Bank and other financial institutions in Australia.

Identification and Routing of Funds

One of the primary functions of BSB numbers is to identify and route funds to the correct bank branch. When making a transaction, such as transferring money to another account or paying a bill electronically, the BSB number acts as an address, ensuring that the money reaches the intended destination accurately.

Let’s take an example to better illustrate how BSB numbers are used for the identification and routing of funds. Imagine you want to transfer money to your friend’s account, who banks with Commonwealth Bank in Erina.

Without the BSB number, you would only have the account number, which is not sufficient to ensure the money reaches the right branch. However, with the BSB number 762-735, you can be confident that the funds will be directed to the Commonwealth Bank branch at Sh T112 Erina Fair S/Ctr Karalta Rd, Erina, NSW, postcode 2250.

The BSB number acts like a specific address for the branch, allowing the banking system to identify where the funds should be routed. Furthermore, BSB numbers also help streamline transactions within the same bank.

For example, if you are transferring funds between two accounts held at different branches of the Commonwealth Bank, the BSB number ensures that the money is quickly and accurately routed within the bank’s internal system.

Conclusion

BSB numbers are a fundamental part of the banking system in Australia. They provide a unique identifier for each bank branch, ensuring that funds are correctly identified and routed in various transactions.

Understanding BSB numbers and their importance can help individuals navigate the banking system with confidence and ensure that their transactions are executed smoothly and efficiently. In conclusion, BSB numbers serve as vital pieces of information that facilitate seamless banking transactions.

By using these numbers for identification and routing, the banking system operates smoothly and ensures that funds reach their intended destinations accurately. So next time you engage in a banking transaction, remember the significance of BSB numbers, and appreciate how they streamline the movement of funds within the vast landscape of the banking system.

PEH System: A Link to BSB Numbers

When it comes to banking in Australia, understanding the various systems and codes is essential for smooth and efficient transactions. One such system is the PEH system, which plays a crucial role in the identification and routing of funds.

In this article, we will explore what the PEH system stands for and how it relates to the BSB number provided. We will also delve into the structure and format of BSB numbers, including the significance of different digits within the number, and break down and interpret the BSB number 762-735.

The PEH system, also known as the Primary Exchange Host system, is an integral part of the banking infrastructure in Australia. It is a computerized system that connects the various banks and financial institutions across the country, enabling the efficient transfer and processing of funds.

The PEH system acts as a central hub, facilitating the routing and settlement of transactions between different banks and their branches. BSB numbers play a vital role within the PEH system.

Each BSB number corresponds to a specific bank branch and is used to identify and route funds accurately. The BSB number 762-735 provided belongs to the Commonwealth Bank, and it is used by the PEH system to ensure that transactions involving this particular branch are properly directed within the banking network.

Now, let’s dive into the structure and format of BSB numbers to understand how they are composed and what each digit signifies. BSB numbers consist of six digits, which are divided into three parts.

The first two digits represent the bank, the next three digits represent the particular branch, and the final digit is known as the check digit. In the BSB number 762-735, the first two digits “76” correspond to the Commonwealth Bank.

These two digits are unique to each bank and allow the PEH system to identify the bank associated with the BSB number. The following three digits in the BSB number, “735,” represent the specific branch within the bank.

In this case, the branch associated with 762-735 is located in Erina, NSW. Each branch within a bank is assigned a unique three-digit number that helps distinguish it from other branches within the same bank.

Lastly, the check digit, the sixth and final digit in the BSB number, plays an essential role in ensuring the accuracy of the BSB number. The check digit is calculated using a formula that takes into account the other five digits.

Its purpose is to validate the accuracy of the BSB number and detect any errors, such as incorrect data entry or transcription mistakes. Now that we have dissected the structure of the BSB number 762-735, we can interpret its meaning.

The BSB number belongs to the Commonwealth Bank, with the first two digits indicating the bank. The following three digits, “735,” represent the specific branch located at Sh T112 Erina Fair S/Ctr Karalta Rd, Erina, NSW, postcode 2250.

Lastly, the check digit ensures the validity and accuracy of the BSB number. In conclusion, the PEH system plays a vital role in the banking infrastructure of Australia, facilitating the efficient transfer and processing of funds.

BSB numbers are an integral part of this system, providing unique identifiers for each bank branch. Understanding the structure and format of BSB numbers enables individuals to interpret and utilize them effectively in their banking transactions.

By grasping the significance of different digits within the BSB number, such as the bank, branch, and check digit, individuals can navigate the banking system with confidence and reliability. So, the next time you come across a BSB number like 762-735, you can decipher its meaning and appreciate its role in the vast landscape of the banking system.

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