Quick Facts
| Parameter | Value |
|---|---|
| License name | Remittance Service Provider |
| Country | Australia |
| Regulator | AUSTRAC |
| What it covers | Cross-border money / value transfer |
| Minimum capital | None |
| Timeline | 8–12 weeks |
What is the Remittance Service Provider?
The Remittance Service Provider is a regulator authorisation issued by AUSTRAC that allows a regulated entity in Australia to provide the services covered by the regime. Often paired with DCE for crypto remittance.
Who needs a Remittance Service Provider?
Operators offering services that fall within the activity definition supervised by AUSTRAC. The activity scope captures cross-border money / value transfer — and you should treat anything within or adjacent to that scope as caught until the structure has been opined on.
How the Remittance Service Provider application works
The application is run as a structured five-stage workstream: scoping and gap analysis, incorporation and substance, AML/KYC programme drafting, regulator submission and RFI cycles, and post-licence onboarding. Total time from kickoff to authorisation is 8–12 weeks.
Cost of the Remittance Service Provider
The total first-year cost combines: regulator fee, statutory capital tied up at None, legal fees confirmed at engagement, substance (resident director, office, AML officer where required), and the first year of ongoing supervision. We provide a fixed-scope quote at engagement so the number is not a moving target.
Pitfalls to avoid
- Mismatched substance. Paper directors and serviced offices are detected at first examination. Substance must be substantive;
- Generic AML programmes. AUSTRAC reads policies as a competency signal — generic templates are visible;
- Banking afterthoughts. A licence without a bank account is a paperweight. Banking is part of the engagement, not bolted on after authorisation;
- Ignoring the year-one supervision burden. Authorisation is the start. Annual audit, AML refresh and material-change notifications are calendared from day one.
Frequently asked questions
What does the Remittance Service Provider cover?
The Remittance Service Provider authorises cross-border money / value transfer. It is supervised by AUSTRAC. Often paired with DCE for crypto remittance.
What is the timeline for the Remittance Service Provider?
Typical timeline is 8–12 weeks from kickoff to authorisation. Variance comes from RFI cycles and the quality of the application file at submission, not from the published schedule.
What is the minimum capital for the Remittance Service Provider?
Statutory capital is None. Capital is one input — substance, governance and the AML programme usually drive the application outcome more than the capital line on its own.
How does the Remittance Service Provider fit alongside other Australia licences?
Most operating models in Australia combine Remittance Service Provider with one of the other available regimes — see the full list on the Australia page.
Who supervises Remittance Service Provider authorisation in Australia?
AUSTRAC is the supervising authority. The same regulator handles ongoing supervision after authorisation, including annual returns and material-change notifications.