Remittance service providers overview

Register as a remittance service provider

You must be registered with us before you provide remittance services. It’s against the law to provide remittance services in Australia without being registered.

Learn how to register with us as a remittance or virtual asset service provider.

As part of the registration process, you’ll be recorded on the remittance sector register.

Registration obligations

When you apply for registration, we have the right to refuse, suspend, cancel or impose conditions on a registration.

Remittance network providers and independent remittance dealers must renew their registration every 3 years. Remittance network providers must also apply to renew their affiliates’ registration every 3 years.

You must keep your details up to date.

Types of remittance services providers and their obligations

We can register remittance service providers as one or more of the following:

• a remittance network provider (RNP)
• an affiliate of a remittance network provider
• an independent remittance dealer.

You must apply to register for each category relevant to you. We issue a separate registration for each type of remittance service provider.

Remittance network provider (RNP)

A RNP allows affiliates to use its brand, products, platforms or systems to provide remittance services.

Learn what constitutes a remittance network provider.

If you’re a RNP you’re responsible for obligations on behalf of your affiliates including:

• applying to register them
• keeping their details up to date with us
• reporting on threshold transactions and international funds transfer transactions (IFTIs)
• developing and maintaining an AML/CTF program.

An RNP or its affiliate can submit a suspicious matter report, depending on their written agreement.

Affiliate of a remittance network provider

An affiliate has an agreement with a remittance network provider to use the network’s brand, products, platforms or systems to provide the remittance service. Under the agreement, the affiliate accepts instructions from customers to send funds to a recipient in another location.

If you’re an affiliate, you don’t usually have to apply for registration yourself because your RNP will do it for you. However, if you’re already registered as an independent remittance dealer, you may apply to be registered as an affiliate if your RNP has agreed in writing.

If you’re an affiliate who also wants to provide independent remittance services, you must apply separately to us for registration as an independent remittance dealer.

Independent remittance dealer

An independent remittance dealer uses its own products, platforms or systems to provide remittance services to customers. An independent remittance dealer may own or control several branches.

If you’re an independent remittance dealer, you’re responsible for your own obligations, including:

• applying to register
• keeping your details up to date with us
• reporting on suspicious matters, threshold transactions and international funds transfer transactions (IFTIs)
• developing and maintaining an AML/CTF program.

Transferring funds and other value as part of another service

Some businesses transfer funds and other value on behalf of their customers as part of another service. If all of the transfers of value your business does are reasonably incidental to the provision of that other service, you are not required to register with AUSTRAC. 

Learn more about incidental transfers of value when providing another service.

The incidental transfer of value exception doesn’t apply to:

• financial institutions
• gambling service providers, currency exchanges and virtual asset service providers (VASPs), when involved in international value transfer services. 

However, casinos and financial institutions who transfer funds or make funds available, do not need to register as a remittance service provider, but will need to require with other obligations related to value transfer services.

Video: Guidance for remittance service providers