Australian Banking Association Ltd (cash-in-transit initiatives)

The ABA is seeking authorisation to enable the ABA, its member banks, and other industry participants who distribute and/or utilise cash in their businesses to discuss and develop arrangements to facilitate ongoing access to cash across the Australian economy.

The application for authorisation follows concerns expressed by the major supplier of cash-in-transit services in Australia, Armaguard, that the industry is not sustainable in its current form. Cash-in-transit services involve providing cash transport, management and processing services. These services are provided to banks, retailers and independent ATM operators.

Authorisation was originally sought until 30 June 2024. However, the ABA has requested to vary the application to extend the term of authorisation until 31 October 2024 due to the complexity of the issues facing the cash-in-transit industry.

The authorisation application relates only to discussions and reaching in-principle agreements about an industry response to support ongoing access to cash. The ABA has advised that before adopting and implementing an agreed industry response a separate ACCC authorisation for the proposed way forward would be sought if required.

The ABA also requested interim authorisation to enable industry participants to engage in the proposed conduct while the substantive application for authorisation is being assessed by the ACCC.

On 6 December 2023 the ACCC granted interim authorisation with conditions. The ACCC has granted interim authorisation with reporting and transparency conditions to ensure that the ACCC is informed of the progress of discussions, including consultation with stakeholders.

On 20 March 2024, the ACCC issued a draft determination proposing to grant authorisation with conditions until 31 October 2024.

The ACCC invites the views of interested parties on the draft determination and request for variation to the length of authorisation by 10 April 2024. If you wish to make a submission in relation to this matter, please lodge it via this web form.

An indicative timeline for the ACCC’s assessment is set out below.