Cash delivery workers have embarked on a strike they claim will prevent money arriving at banks, ATMs and retailers in the lead up to the spring racing carnival.
Armaguard, Prosegur and Point-to-Point union members stopped work for four days from Friday as they stepped up industrial action.
The companies, owned by billionaire businessman Lindsay Fox's Linfox, are the sole distributors of bank notes and coins in Australia.
Dozens of workers staged a protest at Armaguard Essendon Fields Depot in Melbourne's north early on Friday morning.
The Transport Workers Union claims the strike will "prevent cash deliveries to retailers, banks and ATMs over Melbourne's Spring Racing Carnival" in Victoria and Tasmania.
Pay, safety standards and job security are at the centre of the dispute.
The union's Director of Organising Sam Lynch claimed cash handling companies were "refusing" to engage or continue negotiations.
Workers "effectively" haven't had a pay increase for five years rise since the pandemic, he told ABC Radio.
"It's a dangerous job, every day they're subjected to often abuse, sometimes attempted robberies," he said.
"These are, remember, some of the only workers in the workforce that have to carry a gun with them."
He said some workers had also voted to endorse further industrial action on Monday November 3, the day before the Melbourne Cup.
"This is going to continue," he said.
Armaguard Delegate Noelle Carroll said workers didn't want to strike but "have no choice".
"Inflation's gone up but our pay rate hasn't," she told reporters at Essendon.
"Cost of living has gone up and it's about time that they start putting their hands in their pockets."
More than $100 billion worth of bank notes was in circulation as of June 2024 while physical cash was used in just 13 per cent of transactions in 2023, according to the Reserve Bank of Australia.
The Australian Banking Association said banks have plans in place to ensure cash can continue to be accessed through the strike.
"We encourage Armaguard and the TWU to work together to resolve this workplace dispute in the interests of their employees and Australians who rely on cash," a spokesman said.
A Coles spokesperson said cash remained available as normal across its supermarket and liquor stores.
"The limited, short-term industrial action will not affect customers," they said.
"All stores continue to offer the full range of payment options."
In 2024, Armaguard reached a deal with the big four banks, Coles, Woolworths and Australia Post over a $50 million bailout designed to keep cash moving around the country.
Armaguard has been contacted for comment.
