{"id":3195,"date":"2021-07-26T08:46:45","date_gmt":"2021-07-26T08:46:45","guid":{"rendered":"https:\/\/faisalkhan.com\/?page_id=3195"},"modified":"2023-06-21T06:47:42","modified_gmt":"2023-06-21T10:47:42","slug":"money-transfer-license-australia","status":"publish","type":"page","link":"https:\/\/faisalkhan.com\/solutions\/money-transfer-and-remittances\/money-transfer-remittance-business\/money-transfer-license-australia\/","title":{"rendered":"Money Transfer License Australia"},"content":{"rendered":"\n

Money Transfer Business \/ Remittance Provider in Australia<\/h2>\n\n\n\n

Operating a money transfer business without a license is illegal and a crime in many countries and Australia is no exception. Money transfer companies are also referred to as remittance service providers in Australia. To conduct business legally, all such firms in the country should be registered with AUSTRAC and recorded on their Remittance Sector Register. <\/p>\n\n\n\n

Austrac <\/a>defines remittance providers\/money transfer businesses as:<\/p>\n\n\n\n

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A remittance service provider is an individual, business or organisation that accepts instructions from customers to transfer money or property to a recipient. Remittance service providers are also known as \u2018money transfer businesses’. <\/p>\n<\/blockquote>\n\n\n\n

How to Apply for a Money Transfer License in Australia?<\/h2>\n\n\n\n

As a money transfer\/remittance provider in Australia, you must register with Austrac <\/a>before you can provide remittance services. Conducting a remittance business in Australia without being registered is illegal.<\/p>\n\n\n\n

Austrac identifies remittance providers as the following three types:<\/p>\n\n\n\n