In this paper, the multipath effect on underwater acoustic channel bandwidth and BFSK and BPSK bit error dependancy on channel bandwidth are analyzed. The multipath is modeled as a discrete multipath and a continuous multipath and the channel bandwidth is expressed as a function of multipath delay spread constant. Bit error characteristics on the channel bandwidth and the criteria of the multipath delay spread constant are found through the numerical simulation. The transmission bit rate of less than 100bps in the water tank which has a channel bandwidth of 100Hz, is a consistent result with the numerical simulation