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New Zealand bank account numbers in NZD follow a standardised format of 16 digits: a prefix representing the bank and branch (six digits), otherwise known as the Bank code; the body (seven digits); and; the suffix representing the product/account type (two or three digits).
The bank gained the banking account of the New Zealand Government from the Union Bank of Australia, and became an agent to raise debt in the United Kingdom for the government. [citation needed] In the 1860s and 1870s capital was brought into New Zealand by the government and others. There was plenty of employment, development moved quickly and ...
It is a 100% New Zealand owned registered bank that has retained a mutual building society structure. The Bank has a BBB credit rating. It uses the prefix 03 for its account numbers which is the same as Westpac Bank NZ because they use the same 'lines'. The bank's head office is based in Invercargill. SBS Head Office
Post Office Savings Bank moneybox 1940 Passbook issued by the New Zealand Post Office Savings Bank in 1953. Post Office Savings Bank, or very briefly PostBank (trading name of Post Office Bank Limited), was a bank owned by the New Zealand Government as the government's postal savings system. The bank was established in 1867.
Iraq has a 1 to 3 digit bank code which identifies the bank branch. New Zealand has a 6-digit prefix identical to Australia's BSB code, and although they appear similar (e.g. ANZ bank accounts in both countries start with 01, Westpac with 03), they are not compatible. The first 2 digits indicate the bank and the next 4 digits indicate the branch.
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. For example, 03 was for Westpac's trading accounts, while 73 was for Westpac's savings accounts. Some banks continue to use two bank codes, which today are of only historic and legacy significance. [citation ...