Remittance providers and virtual asset service providers with customers in Australia enrol and register with AUSTRAC, a scope widened to cover virtual asset services from 31 March 2026.
Selected engagements from more than 250 licences obtained since 2013, for payment, e-money, cryptoasset and consumer credit firms.
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Payment InstitutionObtained Nexpay’s FCA Authorised Payment Institution licence.
Electronic Money InstitutionObtained Dzing Finance’s FCA Authorised Electronic Money Institution licence.
Obtained Orbital’s FCA Authorised Payment Institution licence.
Our realistic timeline from submission, set against the regulator’s own published figures.
Safeguarding, operating and settlement accounts opened alongside the application, so you trade on authorisation.
Candidates introduced for directors, a compliance officer and company secretary, each assessed against the regulator’s standard.
A reply within three business hours and a written proposal the same day: the licence, the requirements, the cost and the timing.
You will need directors, an AML/CTF compliance officer and a company secretary, each with a police certificate issued within the last six months.
One engagement and one timetable, from scoping to launch. Speak to an expert about the people, the banking and the technology for this licence.
The regulator’s requirements, capital, timing, fees and the questions firms ask, from the regulator’s own publications.
A remittance service provider, whether a remittance network provider, an affiliate of a network or an independent remittance dealer, and a virtual asset service provider must both enrol with AUSTRAC as a reporting entity and register before providing designated services with a geographical link to Australia. Unregistered persons must not provide remittance services under Part 6 of the Act. A remittance network provider generally registers its affiliates. Lawyers, accountants, real estate agents, conveyancers and dealers in precious metals and stones generally do not register, and incidental transfers do not trigger registration. The virtual asset scope in force from 31 March 2026 replaces the former digital currency exchange registration.
| Registration | Who | Notes |
|---|---|---|
| Remittance network provider | Operates a network of affiliates providing remittance services | Registers its affiliates |
| Remittance affiliate | Provides remittance services under a network provider | Registered by the network provider unless also independent |
| Independent remittance dealer | Provides remittance services in its own right | Registers directly |
| Virtual asset service provider | Exchange, transfer, safekeeping and connected financial services | Scope in force from 31 March 2026 |
| Requirement | Amount |
|---|---|
| Capital requirement | None |
| Safeguarding | Not a requirement of the AML/CTF Act |
Banks assess an applicant’s financial standing and AML/CTF framework when opening accounts; the firm prepares that pack alongside the registration.
| Figure | Value | Source |
|---|---|---|
| Statutory decision period | Up to 90 days, about 3 months, from the application, reset on each request for further information | AML/CTF Act 2006, Part 6; AUSTRAC registration guidance |
| Regulator’s published figure | Up to 90 days to assess; an application not decided within the period without extension is refused | AUSTRAC, register with us as a remittance or virtual asset service provider |
| Application preparation | 3 to 4 weeks | From instruction to submission, including banking in parallel |
| Our realistic timeline | 3 months after submission | The firm’s own figure, from the regulator’s published data and its own applications |
Figures published by the regulator are quoted as published and converted to months. The realistic timeline is the firm’s own, for a complete, well-prepared application.
| Item | Amount | Notes |
|---|---|---|
| Application fee | None published | No fee appears on AUSTRAC’s enrolment or registration pages |
| Annual industry contribution levy | Applies to some reporting entities | Thresholds are not stated on AUSTRAC’s registration pages |
| Professional fees | Fixed, in writing | Quoted after scoping |
Anti-money laundering obligations for virtual asset services commenced on 31 March 2026 under the AML/CTF Amendment Act 2024. Virtual asset service providers enrol by 28 April 2026 and may not provide designated services from 31 March 2026 until registered, subject to transitional rules: a newly regulated provider that applied before 29 July 2026 may continue under those rules until its application is decided. Existing registrants update their registration details before their next scheduled renewal and their registration status is unchanged by the reforms. Changes to registration details are reported within 14 days, or 7 days for affiliates of a remittance network provider.
Registration covers designated services with a geographical link to Australia. AUSTRAC’s pages state no Australian incorporation requirement; the position of a foreign entity is agreed with AUSTRAC before filing. Groups serving Asia-Pacific pair the registration with a Singapore major payment institution licence or a Hong Kong money service operator licence; the firm obtains each.
AUSTRAC publishes what it considers. Whether registration could pose a significant money laundering, terrorism financing or other serious crime risk; business readiness, including AML/CTF resourcing and experience; charges or convictions of the applicant or its key personnel; compliance history, including that of beneficial owners; the consent of the remittance network provider for an affiliate; and the likelihood that the registrable services will actually be provided. The 90-day period resets each time AUSTRAC requests further information. Registration may be suspended, cancelled or made subject to conditions for offences, contraventions, a lack of operational capability or false or misleading information; internal or external review may be available. A lapsed registration is removed from the register and any later application is treated as new.
A remittance or virtual asset provider needs Australian accounts for settlement and operations, and banks review the AUSTRAC enrolment and registration, the AML/CTF programme and the key personnel before opening them. The firm arranges accounts through institutions that serve the sector and prepares the pack they review. See banking and payment processing.
AUSTRAC may take up to 90 days to assess an application, and the period resets when it requests further information. The firm plans for three months after submission.
No application fee appears on AUSTRAC’s enrolment or registration pages. An annual industry contribution levy applies to some reporting entities.
From 31 March 2026: exchanging virtual assets for money, exchanging one virtual asset for another, transfers of value involving virtual assets, safekeeping, and certain financial services connected with offering or selling a virtual asset.
Three years. Renewal may be applied for up to 90 days before expiry and the registration continues until the renewal is decided; a lapsed registration is removed from the register.
No, as a rule. The network provider registers its affiliates; an affiliate that also provides services independently registers in its own right.
A regulatory advisory firm to payment, e-money and cryptoasset companies since 2013, with more than 250 licences obtained in more than 60 countries. The firm advises on authorisation, compliance, safeguarding, banking and transactions, and builds the white-label payment and card technology its clients launch on.
A written proposal on cost, timing and requirements, the same day: speak to an expert.
This guide is general information for firms considering authorisation and is reviewed against the regulator’s published requirements. It is not legal advice; requirements and fees change, and the regulator’s current publications take precedence.
The requirements, the cost and the timing for your business, in a written proposal the same day.