Pricing current as at October 2026. Billing starts on 1 November 2026. Prices can change with notice under BGL's standard subscription terms.
Contents
1. How Firm Verify pricing works
You pay only for what you use, through two charges on one monthly invoice.
| Charge | How it works |
|---|---|
| CDD entity fee | $6 + GST per client per year (not per month) for each client you run a CDD workflow on, billed monthly at $0.50 + GST per billable client. The minimum is 25 clients: $12.50 + GST a month, or $150 + GST a year. It is charged every month, including your first. |
| Verification checks (KYC and KYB) | A set fee for each check that is completed. KYC checks are available now; KYB checks are planned and not yet available. See Section 6. |
Clients imported from the Interim Verification tool are the exception. They arrive with CDD already started (CDD In Progress or Active), so each one is billable from the month you import it. See Import Clients from the Interim Verification Tool.
There is no per-user, seat or platform fee. Any number of staff can use Firm Verify at no extra cost. The AML/CTF training module and policy document generation are also included.
What does a typical firm pay?
Only the number of clients you have run CDD on counts, not how many clients you hold in Firm Verify. These examples show the entity fee only; checks are extra.
| Clients in Firm Verify | Clients with CDD started | Monthly entity fee |
|---|---|---|
| 300 | 10 | $12.50 + GST (25-client minimum) |
| 300 | 80 | $40 + GST |
| 1,000 | 400 | $200 + GST |
Other pricing questions
Is there a minimum annual fee of $1,800?
No. The minimum is 25 clients × $0.50 + GST = $12.50 + GST a month, which is $150 + GST a year. A figure of $1,800 comes from reading the $6 as a monthly fee (25 × $6 × 12). The $6 is per client per year.
How do I work out my monthly entity fee?
Multiply the number of clients in a billable CDD status by $0.50 + GST. If that number is under 25, you pay the $12.50 + GST minimum. For example, 40 clients with CDD started cost 40 × $0.50 = $20 + GST a month ($240 + GST a year), plus any verification checks.
Is the $6 a one-off or an ongoing fee?
Ongoing. It applies every year for as long as you maintain CDD on that client, because AUSTRAC requires you to maintain CDD throughout the client relationship. It covers the CDD workflow software for that client; verification checks are charged separately.
Is the 25-client minimum per firm?
Yes. There is one minimum per Firm Verify subscription.
Does the 25-client minimum include individuals?
Yes. All client types count: individuals, companies, trusts, SMSFs and similar.
I already use CAS 360 or Simple Fund 360. Is there a bundle or discount?
Not at the moment.
Is there a cap or volume discount?
Not at the moment.
Can prices change?
Prices can change with notice under BGL's standard subscription terms. Current prices are listed on this page and on the Firm Verify website.
2. Starting, trialling and stopping
When does billing start?
1 November 2026. Anything you did in Firm Verify before that date is free. Clients already in a billable CDD status on 1 November are counted on your first invoice.
Is there a contract or minimum term?
No. Firm Verify is month to month. You can cancel with 30 days' notice.
What happens if I cancel my subscription?
All charges stop when the subscription ends, including the 12-month charges for offboarded, rejected, suspended and cancelled clients. There is no charge for keeping your records after you leave.
What happens to my records if I leave?
Firm Verify keeps your CDD records for 7 years, as AUSTRAC requires. You can export your CDD records and audit trail by contacting BGL, before or after you cancel.
3. Which clients you are charged for
A client becomes billable the moment you start CDD on them. They stay billable every month they hold a billable CDD status.
Each client shows two statuses on the Clients screen: Client Status and CDD Status. Only CDD Status affects billing. A client with no CDD status (a contact, a prospect, a pre-commencement client, or a client still in onboarding) is never billed.
CDD statuses and billing
| CDD Status | Billable? | What it means |
|---|---|---|
| Ready for CDD | No | You have not run CDD on this client. |
| CDD In Progress | Yes | You have started CDD. Billing begins here. |
| Awaiting Documents | Yes | CDD is paused while the client supplies documents. |
| Pending | Yes | CDD steps are complete, not yet submitted for review. |
| Under Review | Yes | Submitted to your Compliance Officer for a decision. |
| Escalated | Yes | High-risk case under Compliance Officer or Senior Manager review. |
| Active | Yes | CDD is complete and approved. The client is on your register. |
| Reassess | Yes | The CDD renewal date has arrived. Same monthly charge; renewal is not a second fee. |
| Suspended | Yes, for 12 months from the date suspended | The relationship is paused. If you reinstate the client, they continue as Active. Nothing resets. |
| Rejected | Yes, for 12 months from the date rejected | You started CDD, then declined the client. The record is locked for audit. |
| Offboarded | Yes, for 12 months from the date offboarded | The relationship has ended. Record-keeping obligations continue. |
| Cancelled | Yes, for 12 months from the date cancelled | You started CDD, then cancelled it. |
To see which clients are currently billable, filter the Clients screen by CDD Status.
Clients who leave or are declined
If a client leaves, am I charged for the rest of the month or the year?
Neither. You are charged for 12 months from the date the client's CDD status changed to Suspended, Rejected, Offboarded or Cancelled. The month the status changed is month one. For example, if you offboard a client on 10 December 2026, you are billed for December 2026 through November 2027. They drop off the invoice after that.
How do I stop paying for a client who has left?
Offboard them. This starts the 12-month wind-down, after which billing stops. The 12 months runs from the date the status is set.
What happens to billing when I archive a client?
Archiving removes the client from the Clients list, but it does not change their CDD status. [CHECK: confirm with the FV product team whether an archived client in a billable CDD status is still counted on the invoice, and how a firm can see them.] To stop paying for a client who has left, offboard them rather than archiving them.
I started CDD on the wrong client. Am I charged?
Cancelling CDD puts the client in Cancelled status, which is billable for 12 months. If it was a mistake, log a support call with BGL as soon as you notice and we will review it.
What about clients I decided not to take on?
If you had started CDD, billing applies for 12 months from the date you rejected or cancelled them. If you had not started CDD, there is no charge.
Ongoing and renewal CDD
Do I pay again when CDD is renewed?
No. Renewal CDD is the same client at the same monthly charge. Only new verification checks you run during renewal are charged.
I only do CDD once, for example when I set up a new company. How is that charged?
The client is billed every month from the month you start CDD until you offboard them, then for 12 more months, counting the month you offboard them as month one. For example, if you start CDD on 5 March 2027, set up the company and offboard the client on 20 March 2027, you are billed $0.50 + GST a month from March 2027 through February 2028: $6 + GST in total, plus any verification checks. If the client stays with you for other services, billing continues until you offboard them.
Am I still charged for clients in later years?
Yes. Active clients are billed every month for as long as the relationship continues, because AUSTRAC requires you to maintain CDD throughout. Billing ends 12 months after you offboard the client.
Clients who are never billed
Any client without a CDD status is never billed. This includes:
- Contacts and prospects
- Clients still in onboarding
- Pre-commencement clients (existing clients added before 1 July 2026 where you have not started ongoing CDD)
If your Compliance Officer has documented that CDD is not required for a client, do not start CDD on them and they will not be billed.
Who in your firm can trigger a charge
4. What counts as a client (entity)
The billable unit is the client record you run CDD on, not the person. That can be an individual, company, trust, SMSF or similar.
| Who or what | How it's billed |
|---|---|
| Directors, trustees and beneficial owners | Not charged as entities when identified during CDD on a company or trust, unless you also set them up as clients and run CDD on them. Any verification check you run on them is charged at the per-check rate. |
| A person in more than one role | A person who is a client and also a director or trustee elsewhere counts as one entity. |
| Client Groups | Never charged as a group. Only the member clients you have run CDD on count. |
| Company with a KYB check only (planned) | Once KYB is available, a KYB check is charged at the per-check rate only. The company becomes a billable entity only when you start CDD on it. |
| Low-risk individuals | Billed each month like any other client once you have run CDD and they are Active, including personal tax return clients. If you have many individual clients, factor this into your costs. |
| Clients shared with another firm | Each firm pays for the clients it runs CDD on. Billing is per subscription. |
Example 1
Family group — a trust, a company and two individuals
- Each entity you run CDD on is a separate billable client.
- Run CDD on all four and you pay for 4 entities: $24 + GST a year, or $2 + GST a month. These count towards your 25-client minimum.
- Entities you hold as pre-commencement clients without starting CDD are free.
Example 2
New SMSF with a corporate trustee and two directors
- The fund, the trustee company and each director you run CDD on are each a billable entity.
- KYC checks on the directors are charged separately. Once KYB is available, a KYB check on the trustee company will also be charged separately.
5. Invoices and usage
Your first Firm Verify invoice is issued on 1 December 2026, covering November.
How is my monthly bill worked out?
On the 1st of each month, Firm Verify counts every client in a billable CDD status at that moment, plus every verification check completed in the previous month. A client who changed status more than once in the month is counted once, by the status they held when the count was taken.
When do I get the invoice, and what is on it?
Invoices are issued on the 1st of each month for the previous calendar month. Each invoice has one line for CDD entities (total count at the monthly price) and one line for each type of verification check you used.
Who can set up payment and move from beta to the paid product?
The Account Owner and Admin users in MyBGL.
How do I pay?
By direct debit from a bank account or credit card.
Can I see what I will be charged before the invoice?
Yes. A usage report showing your billable clients and your completed checks will be available in Firm Verify by 1 December 2026, in time for your first invoice. Until then, filter the Clients screen by CDD Status to see which clients are billable.
Where do I find past invoices?
In MyBGL, alongside your other BGL invoices.
Who do I contact about a billing question or dispute?
Your BGL account manager.
6. Verification check fees
Each verification check is charged per check, on the same monthly invoice as the entity fee.
Are verification checks included in the Firm Verify price?
No. KYC and KYB checks are charged per check at the rates below.
Is the check charged to my firm or to my client?
To your firm account, not to your client.
KYC: identity verification
| Option | Includes | Price per check |
|---|---|---|
| Option 1 | Enhanced identity verification: document verification, PEP and sanctions screening | $7 + GST |
|
Option 2 Most popular |
Option 1 plus adverse media screening | $9 + GST |
| Option 3 | Option 1 plus biometric verification | $10 + GST |
KYB: business verification
KYB checks will run in up to three steps. Each step is priced separately where it applies.
1 |
Business lookup — Free ABN lookup, ACN lookup or business name search. Optional if you already know the ABN or ACN. |
2 |
Organisation verification and reports Choose the report that fits the structure. Prices are in the table below. |
3 |
Associated individual checks KYC checks on directors, officers and UBOs identified in the organisation report are charged at the KYC rates above. |
| Step 2 report | Use it for | Price per check |
|---|---|---|
| ASIC single organisation verification | An ASIC extract for simple structures (e.g. a Pty Ltd with direct owners). Includes AML screening on the organisation. Requires an ACN or ABN. | $31 + GST |
| Bundled multi-level UBO report | Full ownership traversal for complex structures. Includes PEP and adverse media screening across the organisation, officers, directors, direct owners and UBOs. One report covers one organisation and the entities in its ownership chain. | $65 + GST |
| Credit report, payment predictor and adverse data | Credit score and report covering insolvency notices, payment defaults, court judgements and loans. | $28 + GST |
| Trust deed analyser | Analysis of trust deed documents to identify trustees, beneficiaries and structure. | $22 + GST |
Does one $65 UBO report cover every company in a group?
No. KYB checks are charged per report, and each report is run on one organisation. The bundled multi-level UBO report traces that organisation's ownership chain, including any companies and trusts that own it. Separate companies, such as 10 companies in a client group, each need their own report: 10 reports cost 10 × $65 + GST = $650 + GST. These check fees are separate from the CDD entity fee for each client.
International KYB is not available. If you need overseas business verification, contact your account manager.
KYB continuous monitoring (optional, planned)
Billed monthly per entity under active monitoring.
| Entities monitored | Price per entity per month |
|---|---|
| First 1,000 | $1.00 + GST |
| Each additional 1,000 | $0.50 + GST |
When a check is charged
Are resends and reminders charged?
One automatic resend after a failed Gov-ID or biometric check is free. Each further resend is charged once that check is completed. Manual reminders are free.
What if a check fails or returns the wrong result?
A failed or inconclusive result is still a completed check and is charged. If you believe a check was a system error (for example, a duplicate send or a provider outage), contact your account manager and we will review it.
Last checked against the 5 November 2026 release.