Community money transfer agent (by appointment)

People in your cultural or language community who prefer a trusted local contact, plus customers who want help with ID checks and sending larger amounts.

A commission or share of fees and exchange rate margin on each transfer, depending on your agreement with the provider. Volume builds slowly through word of mouth.

• Trusted within your community
• Language skills
• Comfortable with apps and online systems
• Careful record keeping

• AUSTRAC registration and anti-money laundering and counter-terrorism financing duties, check what applies to you and what your provider handles
• Many providers may not accept home-based agents, so confirm before spending money
• Meeting customers at home raises safety and privacy concerns, consider using a public place or video calls
• Handling customer identity documents needs secure storage under privacy rules
• Professional indemnity and public liability insurance, check what your provider requires

Startup costs are typically around $1,000 to $5,000, depending on what your provider requires for systems, insurance and setup. These are estimates. Confirm the provider accepts home-based agents before spending money.

Check AUSTRAC registration and anti-money laundering and counter-terrorism financing duties, and what your provider handles. Also check privacy rules for storing customer identity documents securely, insurance requirements, and safety when meeting customers, such as using a public place or video calls.

Monthly revenue is typically around $500 to $2,500, depending on how many customers you serve and the commission your provider sets. The estimate assumes at least about 8 hours a week. Check your contract for how commission may change.