Coles halves cash out limit as money delivery service in turmoil

Coles halves cash out limit as money delivery service in turmoil

Services from Australia’s primary physical money transit company have resumed after Coles halved it’s cash out limit ahead of Easter.

Coles had reduced their cash out limit from $400 to $200 amid the risk that Lindsay Fox-owned Armaguard could reduce services over the long weekend.

The major supermarket previously said it would pause all Armaguard delivery services until April 5 but those services have resumed.

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“Coles can confirm that normal cash collection and processing services from Armaguard have resumed,” a spokesperson said.

“Customers can continue to pay with and withdraw cash at Coles supermarkets and liquor stores this weekend and ongoing.”

Armaguard has rejected a $26 million short-term lifeline from the big four banks, Coles, Woolworths, Wesfarmers and Australia Post, according to the Australian Financial Review.

READ MORE: Where you can – and can’t – buy alcohol over Easter

Instead, Armguard has secured $10 million in additional funding from Linfox.

9News understands Coles is working with Armaguard and other industry partners to find a solution.

Their cashout limit is in line with other retailers.

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