The ACCC has granted interim authorisation to allow the Australian Banking Association (ABA), banks and retailers to provide financial contributions to cash-in -transit business Armaguard.

ANZ Bank, Commonwealth Bank, National Australia Bank, Westpac, Australia Post, Coles, Wesfarmers and Woolworths have agreed to provide financial support to Armaguard for up to 12 months.

The financial support forms part of a broader set of conduct for which authorisation is being sought by the ABA, banks and retailers. In addition to the financial support, the parties are seeking authorisation to discuss, agree and implement operational sustainability and efficiency measures across services under their respective service agreements and with Armaguard’s cash-in-transit business.

The parties are also seeking to develop (but not implement) an independent pricing mechanism in respect of their cash services agreements with Armaguard.

“At this time, we have only provided interim authorisation on the financial support aspect of this package,” Acting ACCC Chair Mick Keogh said.

“We consider that the financial assistance to Armaguard increases the likelihood of a more sustainable supply of wholesale cash distribution services as well as access to cash by businesses and members of the public across Australia.”

The ACCC is seeking views from interested parties about the operational sustainability and efficiency measures and the independent pricing mechanism aspects of the proposed conduct.

“In assessing those measures, we expect the ABA, major banks and retailers and Armaguard to commit to consulting with other affected parties in a meaningful way so as to ensure the interest of communities across Australia, particularly those in regional and remote areas, are taken into account,” Mr Keogh said.

“We expect this would include affected parties being consulted and provided with transparency about any proposed measures before they are implemented.”

Further information about the ABA’s application and how to make a submission by 24 July 2024 is available on the ACCC's website.

Notes to editors

The ACCC is not responsible for progressing any business continuity or funding arrangements. Instead, the ACCC’s role is to consider requests for exemptions from competition laws that may be breached, to enable competitors to collaborate on such arrangements.

ACCC authorisation provides statutory protection from court action for conduct that might otherwise raise concerns under the competition provisions of the Competition and Consumer Act (CCA).

Section 91 of the CCA allows the ACCC to grant interim authorisation when it considers it is appropriate. This allows the parties to engage in the proposed conduct while the ACCC is considering the merits of the substantive CCA authorisation application.

The ACCC may review a decision on interim authorisation at any time, including in response to feedback raised following interim authorisation.

Broadly, the ACCC may grant an authorisation when it is satisfied that the public benefit from the conduct outweighs any public detriment.


Cash-in-transit services involve providing cash transport, management and processing services. These services are provided to banks, retailers and independent ATM operators.

On 13 June 2023, the ACCC granted merger authorisation to Linfox Armaguard and Prosegur Australia to combine their cash distribution and management and other businesses in Australia and accepted a court-enforceable undertaking, which is a condition of the merger authorisation.

On 27 May 2024, the ACCC granted authorisation with conditions to the Australian Banking Association, the Customer Owned Banking Association, banks, retailers and other industry participants to allow them to continue developing responses to support the distribution of cash across Australia.