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Cash

May

An independent pricing expert will oversee Armaguard’s contracts with banks and supermarkets.

Armaguard, banks pick Deloitte to create utility pricing for cash

The biggest users of cash want contracts with the Lindsay Fox company to be regulated like other essential services such as water and energy.

The best place to park your cash now that rates are forecast to fall might be an ETF.

The best place to park your cash now the RBA has cut again

The days of the term deposit as the only option for retail investors when it comes to cash are over, thanks to a whole new suite of exchange-traded funds.

David Basheer, managing director of the family-owned Strathmore Hotel in the Adelaide CBD, says an Albanese government payment surcharge ban will be inflationary as food prices will have to rise.

Small business says Labor’s card surcharge ban will be inflationary

Hotel and cafe lobby groups will meet the RBA’s head of payments to raise concerns about plans for the surcharge ban this week.

April

Inside an Armaguard coin processing facility. The use of notes and coins has slumped over the last decade.

Big banks draft in Barrenjoey as they consider Armaguard’s future

The banking lobby needs strategic advice on how the Linfox-owned cash transport business could be funded.

An Armaguard truck, delivering cash in Martin Place in Sydney.

Armaguard, banks seek independent price-setter for cash delivery

Resolving the cash transport drama is one step closer, with a callout this week for an expert to set contract prices – at a fair margin for Linfox.

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JPMorgan CEO Jamie Dimon.

Dimon says US recession is ‘likely outcome’ of tariff upheaval

“No one’s wishing for that but hopefully, if there is one, it’ll be short,” the billionaire chief executive of America’s largest bank said.

March

Armaguard is locked in discussions with the Australian Banking Association over an independent pricing mechanism to govern its costs. But smaller banks want a seat at the negotiation table.

Banks campaign for cash levy to avoid Armaguard ‘monopoly’

Twenty banks spending millions each year to provide cash to country towns are forming a campaign to renew focus on the need for a regional bank levy.

Protecting the goods: Armaguard

Coles, RBA warning on push to guarantee Armaguard jobs

Major banks and supermarkets are warning the workplace umpire’s intervention into crisis talks to fund the cash-in-transit business would have far-reaching effects for commercial deals and competition.

CBA shifted an emergency mobile “bank in a box” from Townsville to Brisbane on the back of a semi-trailer this week.

Banks deploy mobile branches, generators to cyclone zone

Major banks have sent mobile banking units powered by their own diesel generators to Brisbane, after Armaguard halted cash deliveries to ATMs due to high winds.

February

Coalition nuclear ‘policy’ just a bunch of words to grab attention

Readers’ letters on LNP attacks on Climate Change Authority chairman Matt Kean, ditching cash, Larry Fink’s mortgage idea, possible fuel shortages, and Donald Trump’s true goal.

Cash is on the way out.

Australia should embrace a fully cashless economy

Readers’ letters on the march of electronic payments, choice in super withdrawals, government spending, high energy costs, public ownership of nuclear plants, and WA’s battery subsidy.

For how much longer will Australians by using cash?

Cash may be gone in 10 years: RBA’s Bullock

Governor Michele Bullock says cash may only be around for 10 years. But unlike Donald Trump, she sees no role for bitcoin in central banking or payments.

Australia Post will extend its banking services.

Banks strike Australia Post deal to bolster rural branches

Lenders will extend moratoriums on country branch closures and have agreed to lift funding for over-the-counter services provided at post offices.

Armaguard was excluded from a meeting at the RBA on Wednesday.

Major banks ready to carry Westpac’s Armaguard load

The banks and regulators met on Wednesday afternoon without the cash transit monopoly to work out how to replace Westpac’s unique cash distribution operation.

Moving cash became a financial drain for Armaguard given the dramatic fall in its use.

Westpac’s Armaguard deal complicates negotiations to save banknotes

The major banks are scheduled to meet with the Lindsay Fox-owned cash transportation business in the hope of keeping the company afloat and money circulating.

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An Armaguard truck in Martin Place in Sydney. The RBA will host a meeting this week with the banks to discuss the plan for when its emergency funding runs out in five months.

Banks and Armaguard revisit life support for cash distributor

Banks expect Armaguard to confirm its banknote distribution operation is on rocky financial footing this week, but the future of the Linfox-owned business is anyone’s guess.

December 2024

CBA backs down on withdrawal fee after Chalmers leans on Comyn

Treasurer Jim Chalmers had called the $3 charge for branch withdrawals “unacceptable”. Australia’s largest bank reconsidered.

September 2024

Sydney startup Primary is taking the fight to the big banks. Pictured: chief of staff Finn Blake, founder Ben Buckingham and chief product officer Will Freeborn.

Carthona Capital bets on cash management start-up

Treasury management start-up Primary has ruled off a $3.5 million seed round led by Carthona Capital.

Banks are discussing how to make Armaguard a more efficient operator.

Inside the plan to rescue cash: Smart ATMs and keeping it off the road

Three months since banks threw Armaguard a lifeline, a more sustainable model for cash distribution is taking shape, including ATMs that combine deposits and withdrawals.

August 2024

The cost of paying with a credit card has come under considerable scrutiny as the prevalence of surcharges increases.

Mastercard argues cash costs more than card in bid to stymie fee limit

A Boston Consulting Group report commissioned by the global payments giant has found there are plenty of “hidden” costs to using cash, which could be reduced.

Original URL: https://www.afr.com/topic/cash-hpa