Coles issues urgent cash restrictions for the Easter long weekend trends now
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Coles has limited the amount of cash customers can withdraw as some stores face going cashless this Easter long weekend.
Ongoing negotiations between secure cash delivery company Armaguard and the country’s largest banks and retailers over lifeline funding has seen Coles take a cautionary approach to the cash it currently holds.
The grocery giant has paused all cash delivery services until April 5 over fears Armaguard could enter administration, leaving its cash stuck in the company's trucks.
Due to the shortage of cash available, Coles has limited the amount customers can withdraw to $200 to preserve the cash float in its tills.
A 'cash process update' memo was sent to Coles staff across Australia warning its grocers and liquor stores could temporarily become 'card only' between March 27 and April 5.
Coles will limit the amount of cash customers can withdrew to $200 over the Easter long weekend
Some Coles supermarkets and liquor stores could become card only due to cash supply issues
The message told staff they are to place 'card only' signs at checkouts if the store's cash reserves become low.
Employees were also advised to consolidate the use of cash to one register while cash collections from Armaguard are paused.
According to
