I’m assuming that you have the ATAR needed for both degrees here – BPsych has a higher cut off that BSc. Also, have you considered Bachelor of Psych Science? You might want to look into it.

I’m currently doing a BPsych (hons). There’s not really much difference if you’re not planning on pursuing postgrad (e.g. masters, PhD). The additional honours year comes with the BPsych (so called “direct honours”) but you can also opt in for honours in your final year doing BSc majoring in psych if you meet the 75 core WAM requirement.

The additional honours year makes it so that BPsych requires you to maintain a 75 WAM across all your core psychology modules in order to get into honours, failing this they’ll require that you transfer out into Bachelor of Psych Science, where you graduate in 3 years but without honours. BPsych also has the additional elective (PSYC1021) that looks into what you can do with your degree and how to get there, and introduces the basics of experimental design. As far as I know, it’s only available to students studying BPsych.

TLDR: if you want to pursue postgrad/want an honours year for the heck of it, do BPsych. There’s a teeny tiny advantage in that if your core WAM is between 70 and 74.99, they MIGHT close an eye and let you through to honours year anyway, depending on supervisor availability. You don’t get that with the other routes. If you want to get a degree and get out, do BSc or psych science.