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PayDay News | Australian Payments News

Big four move to outfox Armaguard at arm’s length

Technology Reporter
10 Jun, 2026
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Alex Zaharov-Reutt
Technology Reporter
10 Jun, 2026
Add us as a preferred source on Google
ANZ, CBA, NAB and Westpac have asked the ACCC for authorisation to run cash distribution through a jointly owned company that replaces Westpac as the Reserve Bank's licence holder, spreads the banknote liability 25% each, and keeps Armaguard at arm's length.
Big four move to outfox Armaguard at arm’s length
Linfox Armaguard Group Executive Chairman Peter Fox and Westpac CEO Anthony Miller – the banks want to set up a single company to do the negotiating with Armaguard.

ANZ, CBA, NAB and Westpac have asked the ACCC for authorisation to run cash distribution through a jointly owned company that replaces Westpac as the Reserve Bank's licence holder, spreads the banknote liability 25% each, and keeps Armaguard at arm's length.

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