Money Transfer Licence
Remittance and Money Transfer Licence Providers in Dandenong, Victoria
We have summarised some of the requirements for running your remittance business
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There are a number of ongoing requirement and obligations which remittance and Money Transfer Providers face when running their businesses. We have summarised some of the requirements for running your remittance business in a compliant manner below including:
- What is a Remitter?
- Do I need to enrol and/or register my business with AUSTRAC?
- How to enrol and/or Register my Remittance business with AUSTRAC?
- Compliance obligations
What is a Remitter and/or Money Transfer Provider?
A remitter or money transfer provider is a person or business involved in the act of transferring, sending and/or receiving money on behalf of others. A remitter or money transfer provider can provide services to clients in any of the following capacities:
- Independent Remittance Dealer – Businesses that provide remittance services to customers using their own systems and processes, independent of a remittance network;
- Remittance Network Providers – Organisations that operates a network of remittance affiliates by providing the systems and services that enable its affiliates to provide remittance services
- An Affiliate of a Remittance Network Provider – Businesses that provide remittance services to customers as part of a remittance network facilitated by a remittance network provider.
Do I need to Enrol and/or Register my Remittance Business with AUSTRAC?
It is mandatory for all businesses who satisfy one of the ‘geographical link’ tests and provide remittance services to be enrolled with AUSTRAC as a Reporting Entity and register with AUSTRAC as a remitter.
The three ‘geographical link’ tests are as follows:
- The remittance service is provided to clients at or through a permanent establishment of your business in Australia; OR
- Your business is a resident of Australia and the remittance service is provided at or through a permanent establishment of the business in a foreign country; OR
- Your business is a subsidiary of a company that is a resident of Australia and the remittance service is provided at or through a permanent establishment of the subsidiary in a foreign country.
Once an entity has determined that they have met one of these tests; they are then required to determine the type of registration required.
Remitters are required to apply for registration with AUSTRAC as either an independent remittance dealer, remittance network provider or an affiliate of a remittance network provider.
Remitters must apply to appear on AUSTRAC’s Remittance Sector Register. Under the AML/CTF Act it is an offence to provide remittance services if an individual or business is not registered with AUSTRAC.
Registration with AUSTRAC is issued for a set period and registration must be reapplied for every three years.
How to Enrol and/or Register your Remittance Business with AUSTRAC?
To apply for enrolment and/or registration with AUSTRAC you must complete the AUSTRAC Business Profile Form available on AUSTRAC’s website.
If you require assistance with enroling/registering your business with AUSTRAC please contact us.
Frequently Asked Questions
A money transfer licence allows a business to legally send, receive, or facilitate money transfers on behalf of customers. In Australia, businesses that provide remittance services must register with AUSTRAC and comply with anti-money laundering and counter-terrorism financing (AML/CTF) regulations.
Yes. Any business providing money transfer or remittance services must register with AUSTRAC and be listed on the Remittance Sector Register. Operating without registration is illegal and can result in penalties.
Businesses that provide any of the following services must register:
- Independent remittance dealers
- Remittance network providers
- Affiliates of remittance networks
These categories are defined by AUSTRAC for businesses involved in transferring funds domestically or internationally.
AUSTRAC (Australian Transaction Reports and Analysis Centre) is the financial intelligence agency responsible for regulating money transfer businesses in Australia. It ensures businesses comply with anti-money laundering and counter-terrorism financing laws.
We assist businesses with:
- AUSTRAC enrolment and remitter registration
- Preparing required documentation
- Compliance guidance for AML/CTF obligations
- Understanding regulatory requirements
- Ongoing support for maintaining compliance
The timeline depends on the completeness of your documentation and compliance preparation. With professional assistance, the process can typically be completed within a few weeks after submitting the application.
Common requirements include:
- Business registration details
- Identification of directors and key personnel
- Business structure and ownership information
- AML/CTF compliance program
- AUSTRAC business profile information
Remittance registrations must be renewed periodically. Businesses generally need to reapply for registration every three years to remain compliant with AUSTRAC requirements.
