Money Transfer Licence

If you’re planning to establish a money-transfer or remittance business in Victoria, it’s essential to understand the regulatory landscape and licensing requirements. While there may not be a state-level “money-transfer licence” specific to Victoria, you still must comply with rigorous federal laws and register with the correct body before you begin. This post will walk you through what you must do, who regulates it, the step-by-step process, and key ongoing obligations and tips for success. Who regulates money-transfer services in Victoria? In Australia, the primary regulator for remittance or money-transfer businesses is AUSTRAC (Australian Transaction Reports and Analysis Centre). According to guidance, while the state of Victoria does not require a separate Victorian licence for remittance services, you must register at the federal level.  That means even though you’re operating in Victoria, your regulatory obligations are nationally governed. This avoids needing to navigate a ...