What details do I need to receive money from overseas in Australia?
To ensure money reaches you safely from abroad, accuracy is vital. Australian banks don’t check the name on the account against the account number during the automated phase of the transfer, so a single-digit error could lead to the money being sent to the wrong person.
The importance of the BSB and account number
In Australia, every bank account is identified by a Bank State Branch (BSB) number and an account number:
- BSB number: a 6-digit code that identifies the specific institution and branch
- Account number: your unique internal number within that bank
You must provide both to the sender for them to direct the money to the right place. If you’re a Revolut customer, you can find these by opening our app, going to your AUD balance, and selecting Details.
Understanding SWIFT for transfers to Australia
For international transfers, a BSB and account number are rarely enough. The sender’s bank will also ask for a SWIFT code (also known as a BIC). This is an 8 or 11-character code that identifies your bank on the global stage. It ensures the money knows where to go once it lands in Australia.
In addition to the codes mentioned above, you should provide:
- your full legal name as it appears on your account
- the residential or business address linked to your account
- the bank’s name and the address of its headquarters
Why Australia doesn’t use IBANs
If your sender is in Europe or the UK, they might ask for your International Bank Account Number (IBAN). It’s important to explain to them that Australia doesn’t use the IBAN system. Instead, we rely on the combination of the SWIFT/BIC, BSB, and account number. Providing an IBAN from a different country for an Australian account will cause the transfer to fail.
