The Australian Competition and Consumer Commission (ACCC) has released a draft determination proposing to authorise the Australian Banking Association (ABA) and other industry participants to continue working together to maintain access to cash across Australia.
The proposal aims to ensure that cash-in-transit services – which underpin the country’s cash supply chain – can continue even if Armaguard, the main national cash distributor, faces disruptions or service suspensions.
“We are proposing to grant this authorisation to allow the ABA and other relevant parties to discuss and develop responses to ensure consumers and businesses can continue to access cash,” ACCC Deputy Chair Mick Keogh (pictured) said in a media release.
Keogh said the authorisation recognises the critical role cash still plays, particularly for vulnerable Australians.
“Public access to physical currency is incredibly important, especially for consumers who are reliant on cash payments including those in regional and remote areas,” he said.
ACCC’s draft authorisation includes three conditions, including a requirement that ABA develop initiatives to protect access to cash in remote areas, where options for cash services are often limited.
When competitors collaborate, they typically require an exemption from ACCC to avoid breaching competition law. Under section 91 of the Competition and Consumer Act 2010 (Cth), ACCC can grant authorisation when it is satisfied that the public benefit outweighs any potential detriment.
This protection allows competitors, such as banks and retailers, to jointly develop solutions in the public interest – in this case, safeguarding nationwide cash access. The ACCC’s authorisation gives ABA and participating organisations statutory protection from legal action for conduct that might otherwise raise competition concerns.
ACCC has granted four related authorisations since 2023, following the merger of Armaguard and Prosegur Australia, which created the country’s dominant cash transport and management operator.
The current draft determination builds on those previous measures, ensuring continuity in cash-in-transit operations while maintaining strong competition safeguards.
ACCC emphasised that the new proposal does not cover any pricing mechanisms between Armaguard and its customers. Any future pricing or funding proposals would require a separate authorisation process.
“The ACCC’s website will be updated with information relating to those issues when an application for authorisation is received from the parties,” the regulator said.
ACCC is now seeking public submissions on its draft determination before making a final decision. Stakeholders can provide feedback until Nov. 14 via the ACCC’s website, which includes full details of ABA’s application.
The ACCC’s draft determination reinforces its commitment to preserving national access to cash while maintaining fair competition in the banking sector. For brokers and financial institutions, it underscores continued regulatory support for cash-dependent customers and regional economies, where physical currency remains essential for daily trade.
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