ACCC seeks views on Armaguard interim pricing measures

The ACCC is seeking the views of large and small retailers, banks, and other interested parties on a proposed undertaking from Linfox Armaguard Pty Ltd relating to cash distribution services.

The proposed undertaking relates to Linfox Armaguard's interim prices, service offering and national coverage, as well as the access to cash centres it grants to third parties.

The undertaking also includes a complaints handling process, dispute resolution, independent audits, and other provisions.

If accepted by the ACCC, the undertaking would apply while the ACCC is assessing long-term pricing and service levels for Armaguard's cash distribution services.

Earlier this month, the Reserve Bank of Australia designated Linfox Armaguard under the Cash Distribution Framework Act 2026 (the CDF Act). As a designated entity, Linfox Armaguard is now subject to obligations administered and enforced by the ACCC.

"Reliable and sustainable access to cash still matters for many consumers and businesses," ACCC Chair Gina Cass-Gottlieb said.

"The proposed undertaking contains many important provisions affecting Linfox Armaguard's customers, and we want to hear from as wide a range of stakeholders as possible at what is a significant time for the sector."

"Consulting on these proposed measures is an important step towards a long-term, sustainable cash distribution system that meets the needs of Australians," Ms Cass-Gottlieb said.

The ACCC is also seeking views on whether it should consider using its interim directions powers under related legislation.

These powers allow the ACCC to require designated entities to provide specified cash distribution services or access to facilities on specified terms, in order to manage or respond to risks to cash availability or the provision of cash distribution services.

The ACCC is considering whether an interim direction may be appropriate in the transitional period while the proposed undertaking is being assessed, or instead of, or alongside, the proposed Armaguard undertaking.

"We will carefully consider all submissions and other information available to us before deciding whether to accept Armaguard's undertaking," Ms Cass-Gottlieb said.

The proposed undertaking, an ACCC consultation document, and information about how to make a submission are available on the ACCC website at Cash Distribution Framework. The closing date for submissions is 16 October 2026.

Background

Armaguard is Australia's largest cash-in-transit and cash distribution provider.

The cash-in-transit industry is in structural decline due to the decreasing use of cash as a payment method across the Australian economy. However, despite this decline, cash continues to be crucial to certain customers and parts of the economy.

The RBA designated Linfox Armaguard under the CDF Act on 3 September 2026.

Designated entities can submit a court enforceable undertaking to the ACCC on matters relating to the CDF Act at any time. Linfox Armaguard provided a proposed undertaking to the ACCC on 23 September 2026.