Glossary / Payments & banking
BSB
A BSB (Bank State Branch) is the six-digit code that identifies the bank and branch holding an Australian account, used together with the account number to direct a payment.
What it means
A BSB, short for Bank State Branch, is the six-digit code that identifies the bank and branch holding an Australian account. It is used together with the account number to route a payment to the correct destination. Example: a supplier’s remittance details show a BSB of 062-000 and an account number, and both are needed to send them money.
Why it matters for Australian finance teams
A BSB and account number tell the banking system where to send money, but on their own they say nothing about who owns the account. Payments in Australia have historically settled on the numbers, not the account name, so a fraudster who supplies a valid BSB and account number can receive funds even when the name does not match. That gap is exactly what payment redirection fraud exploits.
How ezyshield helps
ezyshield goes beyond checking that a BSB and account number are validly formatted. It confirms the person, the business via ABN and ASIC, and that the party you are paying actually owns the account behind that BSB and number, before money moves, and re-verifies whenever the details change. See bank account ownership verification and verify a supplier bank account in Australia.
Also known as: Bank State Branch, bank-state-branch
Last updated: 7 July 2026
Related terms
- Account Number An account number is the digit sequence that identifies a specific bank account, paired with a BSB to route an Australian payment to the correct destination.
- Bank Account Ownership Verification Bank account ownership verification confirms that a person or business actually owns the bank account they have nominated, before you pay it, so funds are not sent to an account controlled by a fraudster.
- Confirmation of Payee (CoP) Confirmation of Payee (CoP) is a check that matches the account name a payer enters against the name registered on the destination bank account, warning them before payment if the details do not match.
See also: Bank account ownership verification , Verify supplier bank accounts
Stop payment fraud before money moves
Verify the person, business, and bank account before any payment leaves your account.