business.gov.au

Registration as a Remittance Network Service Provider - Australian Government

Description

You will require this registration if you intend to conduct business as a remittance network provider.

Remittance is the transfer of money for payment or as a gift from one person to another. A remittance network is a series of providers who have created a platform that enables the transfer of money, across geographic locations. Registering as a remittance network service provider include obligations under AUSTRAC's Reporting Entities Roll.

To register or enrol, you must complete and submit an AUSTRAC business profile form (ABPF).

Service type

Licence

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

Eligibility requirements

To be eligible, you must:

  • submit your name, the business name, description of the business and the full address of said business
  • submit your ACN, ARBN, ABN or the foreign equivalent
  • submit your Australian financial services licence if applicable and your Australian credit licence if applicable
  • submit your telephone number and email address used at your principal place of business
  • submit details of your key personnel including date of birth, full name, position and contact details
  • submit any details of whether you or your key personnel have been subject to civil or criminal proceedings or enforcement action.

Ongoing eligibility requirements

All remittance service providers must keep their details up to date.

Duration

Registration must be renewed every 3 years.

Fees

Fees Details for this service in table format.

Task Type Business Structure Description
Apply Application All

Please consult the Contact Officer for information on fees to be submitted.

Forms

Act(s) name

Anti-Money Laundering and Counter-Terrorism Financing Act 2006 Australian Government

Regulation(s) name

Anti-Money Laundering and Counter-Terrorism Financing Rules Instrument (No.1) 2007 Australian Government

Disqualified persons or entities

A remittance network operator cannot be:

  • an authorised deposit taking institution
  • a bank
  • a building society
  • a credit union.

Administering agency

Attorney-General's Department

Australian Transaction Reports and Analysis Centre

Contact details

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