Credit cards do not have BSB numbers. The long number on the card is the credit card number and it incorporates the account number.
If you want to know more about the differences between the two types of numbers, scroll down for more details and useful links.
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Key takeaways
- The main difference between BSB numbers, account numbers and credit card numbers is their purpose.
- BSB and account numbers are used for transactions involving transferring money between bank accounts.
- Credit card numbers are used for credit card transactions.
What is a BSB number?
A BSB number (Bank-State-Branch number) is a unique identifier used in Australia to identify financial institutions' branches. It is a 6-digit code used in combination with an account number to identify a bank and a specific branch.
BSB number components
The first two digits represent the financial institution code, the next digit represents the state or territory where the branch is located, and the last three digits identify a specific branch of the institution within that state.
Some smaller banks use only the first three identifier digits for all branches, leaving the final three digits as zeroes.
BSB number uses
BSB numbers are used for a variety of transactions, including making bank transfers and direct deposits. They are an essential part of the banking infrastructure in Australia and play an important role in ensuring the accuracy and efficiency of financial transactions.
BSB and account numbers are used for transactions that involve transferring money between bank accounts. Your bank account number is unique to your specific account, but your BSB number directs the payment to the correct branch. The two numbers give banks the information they need to transfer your funds correctly.
How are credit card numbers allocated?
Credit card numbers are allocated by the issuing financial institution, such as a bank or credit card company. Each financial institution is assigned a unique range of card numbers by their payment network. The main payment networks in Australia are Visa, Mastercard, and American Express. You can find more about them in this guide to credit card numbers and this one about CVV numbers.
Credit card number components
The first six digits of a credit card number are the Bank Identification Number (BIN), also known as the Issuer Identification Number (IIN), and identify the financial institution that issued the card. The next eight or nine digits (eight for Amex cards, nine for Mastercard and Visa) comprise the account number unique to each cardholder. The final digit is a checksum, which validates the credit card number and ensures it is entered correctly.
Credit card security
International payment networks regulate the allocation of credit card numbers. It is designed to prevent fraud and ensure secure transactions. Financial institutions must comply with strict security and privacy standards to protect sensitive financial information and ensure the integrity of credit card transactions.
BSB and account numbers vs credit card numbers
The key difference between BSB and account numbers and credit card numbers is their purpose.
The BSB number is a six-digit code used in Australia to identify the financial institution and branch where an account is held. This number is used for bank transfers and bill payments and is usually printed at the top of a bank statement and in your online banking account list, along with the account number.
The credit card number is a unique 15-digit or 16-digit number that identifies the cardholder's account and is printed on the front of the credit card. This number is used for all transactions made with the credit card and is necessary for online purchases and other electronic transactions. In most cases, you must also provide the CVV (Card Verification Value) for additional verification. The CVV is printed but not embossed on the card.
FAQ
Are credit card numbers account numbers?
A credit card number is not the same as a standalone account number, but the card account number is a component of the credit card number.
Do credit cards have both BSB and credit card numbers?
No. Credit cards do not have BSB numbers. BSB numbers are unique identifiers used in Australia to identify individual branches of financial institutions. In contrast, credit card numbers are unique identifiers assigned to each credit card issued by a financial institution. The first six digits of a credit card number function similarly to a BSB number in that they identify the issuer's industry and contain the issuer's identification number.
