a code which identifies the bank and branch at which an account is held. BSB stands for Bank/State/Branch. For example, BSB 124-001 is Bank of Queensland (12) located in Queensland (4), being branch number 001.
A BSB is a number which is like an electronic bank address in Australia. A BSB identifies both the bank and the branch of the bank in Australia. Each bank branch will have a BSB. Every bank account will have a BSB associated with it. When you are transferring money in Australia the BSB of the sending and receiving bank should be provided.