Ordering institution

You’re an ordering institution if you accept an instruction for a transfer of value on behalf of a payer in the course of carrying on a business.

Circumstances where you may be an ordering institution include:

• receiving the value that’s to be transferred from the payer or another person on their behalf
• holding the value to be transferred in an account or on deposit, including in a virtual asset wallet
• where you’re authorised under an arrangement with the payer to transfer the value from a third-party deposit taker or credit provider
• arranging for the transfer of value from the payer under an offsetting arrangement with the beneficiary institution.

See

AML/CTF Act 2006 subsections 63A(1) to (4)

AML/CTF Rules section 8-1: Determination of who is an ordering institution