The Australian Competition & Consumer Commission (ACCC) has issued a determination granting authorisation with conditions to allow the Australian Banking Association Ltd (ABA), major banks, major retailers and supermarkets, Australia Post and other industry participants to collaborate on the future continuity of cash-in-transit services.

The authorisation allows the major banks and retailers to provide financial support to Armaguard and for the parties to discuss, agree and implement operational sustainability and efficiency measures across the services provided by Armaguard’s cash-in-transit business to those banks and retailers.

The authorisation also allows the parties to develop, but not implement, an independent pricing mechanism in respect of their cash services agreements with Armaguard.

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

On 25 June 2025, the ACCC granted authorisation with six conditions which broadly require:

• the ABA provide regular reports to the ACCC, Reserve Bank and Treasury about discussions, developments and decisions made under the authorisation relating to operational sustainability and Efficiency Measures and the Independent Pricing Mechanism, including any consultation undertaken
• prior to any operational sustainability and Efficiency Measures being implemented, the ABA to provide a report to the ACCC, the RBA and Treasury which describes the measure in detail and sets out the consultation undertaken with other parties (smaller ABA members, COBA, IGA/Metcash, the Australian Hotels Association and Clubs Australia) about the measure including its potential impact on the accessibility of cash in regional and remote areas
• discussions, contracts, arrangements or understandings regarding any operational sustainability and Efficiency Measure and/or Independent Pricing Mechanism to occur at, in preparation for, or arise out of, a meeting, meetings or communications of the ABA Weekly Cash SteerCo or a meeting involving the Reserve Bank or Treasury
• the ABA to ensure that Deloitte (or any alternative independent facilitator) conducts reasonable consultation with specified parties in respect of the development of the Independent Pricing Mechanism prior to any in-principle agreement.

The authorisation made on 25 June 2025 does not extend to the implementation of any pricing proposal. A further application for authorisation of implementation of the pricing proposal is anticipated once agreement between the Funding parties and Armaguard is reached on the proposal.