Affordable Tranche 2 AML Software for Small Businesses
Small businesses do not need a bank AML stack to meet Tranche 2 customer due diligence. They need a check they can afford in a quiet month.
Quick answer
For most Australian small businesses entering Tranche 2, the affordable path is pay-as-you-go AML/CDD software with no monthly platform fee. FreeAML charges from $15 per KYC and $35 per KYB, so you only pay when you verify a client.
Why cheap AML software searches are right to be sceptical
Enterprise AML platforms quote on application, ask for volume commitments, and take a long time to onboard. Subscription tools can look tidy until a quiet month still costs $179–$999 in seats — plus per-check fees. Affordable Tranche 2 software should optimise for variable volume, not bank throughput.
What small businesses actually need
Tranche 2 pulls in real estate agencies, accounting practices, law firms, conveyancers, jewellers, motor dealers, and similar designated services. Most of them need:
- Identity verification for people and companies
- Screening aligned to CDD
- Evidence for the customer file
- A written risk-based program (software supports it; it does not replace it)
- Pricing that survives a slow month
They usually do not need real-time transaction monitoring built for banks. Read the sector duties on /tranche-2 and the market comparison in Best AML software Australia.
Cost model comparison
| Model | Quiet month | Busy month | Best when |
|---|---|---|---|
| Pay-as-you-go (FreeAML) | ≈ $0 platform + checks you used | Scales with volume | Most SMBs |
| Subscription + checks | High floor | Floor plus usage | Stable high volume and seat workflows |
| Enterprise quote | Highest | Highest | Banks and large programs |
Example monthly maths (illustrative)
FreeAML list prices only. Staff time is extra.
| Checks | FreeAML software cost |
|---|---|
| 5 × KYC | $75 |
| 10 × KYC + 2 × KYB | $220 |
| 20 × KYC + 5 × KYB | $475 |
You can pass the check cost to the client with FreeAML's client-pays option. Confirm the current figures on /pricing.
Feature checklist for affordable but usable CDD
- Remote completion on a mobile phone
- Clear Australian positioning (Tranche 2 and AUSTRAC enrolment context)
- Outcomes you can export onto the customer file
- No multi-year lock-in
- Transparent list pricing
Implementation in one afternoon
- Skim your draft AML program and risk assessment.
- Decide who pays for checks (the firm or the client).
- Run a pilot check on /aml-check.
- File the outcome with a risk-rating note.
- Tell staff how to escalate anything that looks wrong.
Sector walkthroughs: accountants and lawyers.
📚 Related Resources
Free KYC Check →
Verify customer identity in 60 seconds. Government ID + AML screening.
Free AML Program →
Board-ready AML/CTF Program template. All 10 AUSTRAC sections included.
Risk Assessment Generator →
AI-powered ML/TF risk assessment. 20-page compliant report in 5 minutes.
Free AML Training →
Online courses for staff. CPD-certified certificates included.
AUSTRAC Reporting Tools →
File SMRs, TTRs, IFTIs directly to AUSTRAC. Pre-filled forms.
Frequently Asked Questions
See small-business pricing
No monthly platform fee. Pay when you verify a client.
View pricingQuestions: team@freeaml.com.au