BSB Frequently Asked Questions



What is Direct Entry?

What is Direct Entry?

Direct Entry is a payment system used for payments including internet banking transactions, direct debit and direct credit instructions. Payments collected from members' bank accounts are direct debits and payments sent to members' bank accounts are direct credits.

What is a Direct Debit?

What is a Direct Debit?

Direct Debit is the “set and forget” way to pay regular bills. It is most often used for ongoing payments like mortgage repayments, insurance premiums and utility bills, but can also be used for one-off payments. Amounts can be fixed, for example for loan repayments, or can vary with each payment for example for mobile phone bills or utility bills.

 

What is a Direct Credit?

What is a Direct Credit?

Direct Credits are used to make regular payments into transaction accounts. Common examples of direct credits are salary payments, payments by government departments (such as Centrelink), dividends and interest payments.

 

What is the new BSB for Beyond Bank?

What is the new BSB for Beyond Bank?

  • The BSB is 325-185

What is a BSB number?

What is a BSB number?

  • BSB stands for ‘Bank State Branch’.

  • The BSB is a unique number which identifies both the financial institution and the point of representation of a particular account in Australia.

  • The majority of the banking industry have a different BSB for each of their branches.

  • This ensures that if for some reason we move or close a branch in the future, unlike the banks, our members won’t be required to change the BSB again.

 

What type of payment methods will require the new BSB 325-185 to be updated?

What type of payment methods will require the new BSB 325-185 to be updated?

  • Direct Credits

  • Direct Debits

  • Internet Banking Payments

  • One off payments

What type of payment methods will not need to be updated?

What type of payment methods will not need to be updated?

  • Member Chequing Facility

  • SWIFT Payments

  • Overseas payments (i.e. pensions)

  • BPAY,

  • rediCARDS,

  • Visa Debit or Credit cards,

  • Bank@Post
  • NAB Deposit Facility.

When do I need to update my BSB by?

When do I need to update my BSB by?

  • There isn’t any immediate action required by you. However if you are setting up a new payment please use the new BSB.

Why can’t Beyond Bank make this change for me?

Why can’t Beyond Bank make this change for me?

  • Beyond Bank is working with Australian Payments Network (formerly APCA) to access a process where the BSB can be updated directly with the debtors or creditors (suppliers).

  • This is a new untested process and the suppliers are not required to complete the request from Beyond Bank.

Why has Beyond Bank changed the BSB?

Why has Beyond Bank changed the BSB?

  • In early 2013 Beyond Bank became a 100% member owned bank and we were approved to become a member of the Australian Payments Network (formerly APCA) for electronic payments.

  • Beyond Bank now owns our own Bank State Branch (BSB) number which will provide greater flexibility to introduce cost effective payment services to our members in the future. 

Will payments continue to process through the old BSB?

Will payments continue to process through the old BSB?

  • Yes, all existing payments will continue to process as they do today.

Will pay splits be affected?

Will pay splits be affected?

  • No, payroll splits will not be affected and will continue to be processed as they usually would when you change to the new BSB.

I have been advised the new Beyond Bank BSB is invalid, what should I do?

I have been advised the new Beyond Bank BSB is invalid, what should I do?

  • Please contact us on 13 25 85 or visit your nearest branch to report the supplier details.

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For the security of your accounts, Internet Banking no longer supports Internet Explorer 8 or earlier versions.

As you may know, Microsoft recently made the decision to discontinue its support of Internet Explorer 8 (IE8). This leaves users exposed to potential security risks. As a result, Beyond Bank's Internet Banking will no longer support Internet Explorer 8 or earlier versions. Going forward, Beyond Bank will support Internet Explorer 9 or later to ensure the security of your accounts.

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