Coles halves cash withdrawal limit in supermarkets amid fears of Armaguard collapse
Retailer’s action taken to avoid cash shortage if the money-moving company were to reduce or cease deliveriesFollow our Australia news live blog for latest updatesGet our morning and afternoon news emails, free app or daily news podcastColes has halved its cash withdrawal limits across its supermarkets and suspended cash deliveries amid mounting concerns over the viability of Australia’s primary physical money transit company, Armaguard.The action, designed to avoid having cash orders stuck in trucks if Armaguard collapses, comes during a period of tense negotiations, led by the banking sector, to keep physical cash flowing around Australia by offering the Linfox-owned transit company a rescue package.Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundupAAP contributed to this report Continue reading...
Retailer’s action taken to avoid cash shortage if the money-moving company were to reduce or cease deliveries
- Follow our Australia news live blog for latest updates
- Get our morning and afternoon news emails, free app or daily news podcast
Coles has halved its cash withdrawal limits across its supermarkets and suspended cash deliveries amid mounting concerns over the viability of Australia’s primary physical money transit company, Armaguard.
The action, designed to avoid having cash orders stuck in trucks if Armaguard collapses, comes during a period of tense negotiations, led by the banking sector, to keep physical cash flowing around Australia by offering the Linfox-owned transit company a rescue package.
AAP contributed to this report Continue reading...
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