Authority to Carry on Banking Business as an Authorised Deposit-Taking Institution - Australian Government


You will require this authorisation if you intend to carry on a banking business in Australia, such as operating as a bank, building society or credit union.

Carrying on a banking business consists of:

  • taking of deposits
  • making advances of money
  • other financial activities.

To conduct a banking business, a body corporate must become an authorised deposit-taking institution, unless it is specifically exempted.

There are two routes for financial entities to become registered as authorised deposit-taking institutions; the direct route or the restricted route. The direct route allows the applicants to conduct banking from the granting of the licence whilst the restricted route provides the applicant with a restricted licence for two years in which they have to meet the prudential framework in full.

Service type


A licence defines the need to obtain recognition / certification and registration to undertake a certain business activity.

Eligibility requirements

To be eligible for this authorisation you must:

  • have a preliminary consultation with the Agency to discuss potential banking business in Australia
  • be a corporation operating in Australia - the Agency cannot consider applications from partnerships or unincorporated entities
  • demonstrate that your corporation is a suitable applicant with the capacity and commitment to conduct banking business with integrity, prudence and competence on a continuing basis
  • satisfy the Agency that your corporation has the adequate start-up capital
  • satisfy the Agency in regard to the composition and functioning of your Board and that you have policies in place to ensure that persons who hold the key positions within the proposed banking business are fit and proper
  • demonstrate that your proposed (or existing) risk management and internal control systems are adequate and appropriate for monitoring and limiting risk exposures
  • demonstrate that your information and accounting systems are adequate for maintaining up-to-date records of all transactions and commitments
  • satisfy the Agency that your processes and systems are adequate in ensuring compliance with the Agency's prudential standards and other regulatory and legal requirements.




Fees Details for this service in table format.

Task Type Business Structure Amount Description
Apply Application All $30000.00

Fees for 2023-24

Apply Application All $80000.00

Restricted ADI. Fees for 2023-24


Act(s) name

Banking Act 1959 Australian Government

Administering agency

Australian Prudential Regulation Authority

Contact details

Contact Email, Phone and Address Details for this service in simple two column table format, header then data.