Objection of Brink’s against Geldservice Nederland turned down

The Netherlands Authority for Consumers & Markets (ACM) has reviewed its previous decision turning down a complaint filed by cash logistics provider Brink’s against possible unfair competition by its rival Geldservice Nederland (GSN), which is jointly operated by three major Dutch banks: ABN AMRO, ING and Rabobank. Brink’s is of the opinion that this collaboration for cash counting and sorting, and also for the joint buying of money transports, impedes competition. Last year, ACM turned down the complaint. Brink’s filed an objection against this decision. ACM has now turned down Brink’s objection, and has upheld its original decision.

The banks behind GSN wish to realize savings through their collaboration such as having fewer counting facilities and using more efficient routes for money trucks. As less and less cash is in circulation, it becomes more efficient for banks to centralize cash counting and processing.

The banks offer businesses the opportunity to convert their cash into bank money. To do so, banks have to process the cash: counting, bundling, and preparing the banknotes for reuse.

The collaboration is aimed at jointly carrying out the money-processing activities. The collaboration arrangements do not concern the commercial strategies of the individual banks such as the rates that these banks charge their customers for depositing money. ACM therefore does not expect that the collaboration has any adverse effects on buyers of money-processing services.

An additional activity of GSN is buying the necessary money transports for these banks. By jointly purchasing the transport services and by combining transport runs, the banks are able to save money. According to ACM, the joint purchase of transport services does not have any anti-competitive effects. GSN does not prevent other banks or retailers seeking transport services from entering the buyer market.

Moreover, there is no reason to assume that the joint buying will result in price increases of dependent banking services that the banks offer their clients.

Therefore, ACM believes that the collaboration between the banks within GSN does not restrict competition. In its decision on objection, ACM states that it acted correctly when it decided to reject Brink’s complaint before.

Brink’s has the opportunity to file an appeal against ACM’s decision.