The BSB Standard
Bank Services Billing (BSB) is an industry standard that governs the format of electronic bills send out by financial institutions to wholesale customers (e.g. corporations, governments, institutions). BSB is a statement to report on the corporate customers' usage of financial services and their related charges. It takes the form of a periodic electronic statement that lists all the chargeable service events that occurred during a reporting cycle, along with detailed tax and currency information. This standard is developed by TWIST, a not-for-profit industry group delivering open, XML-based, standards in certain financial processes.
Main idea behind this standard is to "obtain an electronic billing statement from international banks in a standard format".
According to TWIST, Denmark's Danske Bank has become the first European bank to use its bank billing standard to deliver detailed information to corporate treasurers and wholesale clients.The bank is using the Twist BSB standard for the electronic transmission of information relating to bank charges to General Electric (GE).
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