Financial Services

The Reserve Bank provides a range of banking services to the Australian Government and its agencies, overseas central banks and official institutions. Principal amongst these is management of the Australian Government's core accounts. Also important are transactional banking services which are provided to some 90 government agencies on a commercial basis.

Management of the Government's core accounts is a responsibility that derives from the Bank's role as the nation's central bank and requires the Bank to manage the consolidation of the Australian Government agency account balances. The transactional banking services are associated with more conventional banking activities, such as making and receiving payments. A number of services are available to Government agencies to make payments – such as direct entry, New Payments Platform (NPP), eftpos and the real time gross settlement system. Services that enable government agencies to receive funds include electronic funds transfer, BPAY^®, NPP, eftpos, along with card-based services via phone and the internet.