Refine your results by choosing bank, state and/or suburb. Sending money abroad should be easy, but there might be some terms you aren’t familiar with. Your full guide to what is SWIFT and its meaning in banking. Your full guide to US banking expressions, from ABA to wire.

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Other Payment Options: Deposits and Withdrawals

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What is a BSB code? How to get one and where to find it.

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When you send or receive an international wire with your bank, you might lose money on a bad exchange rate and pay hidden fees as a result. The first digit of the bank code was either 0 (for trading bank accounts) or 1 (for savings bank accounts), with a common second digit. This is largely historic, a legacy from the time when banks maintained separate trading (cheque) and savings entities. Instead, a short array of numbers is assigned in a block that can be easily deciphered by any bank or business to determine pertinent bank account information. No, an International Bank Account Number (IBAN) is used to identify a specific bank account – although they aren’t used in Australia. If you’re sending money to Australia from the US, it’s very important to double-check that you’ve got the correct BSB code.