Cash Depositing Option for Lloyds Bank Customers Now Available at Certain Shops Via Barcode Scanning
Lloyds Bank has launched a new service that allows customers to deposit cash at over 30,000 PayPoint locations nationwide. This 'barcode cash deposit' feature, available within the 'Everyday' section of the Lloyds mobile app, provides a modern and convenient way to deposit cash directly into accounts.
The process is straightforward. Customers can generate a barcode within the app, which is valid for two hours. They can then visit a nearby PayPoint location, have the barcode scanned at the PayPoint till, and hand over up to £300 in cash. The deposited money will appear in their Lloyds account within minutes.
PayPoint locations are often found within petrol stations and supermarkets, making them easily accessible for many. Customers can find their nearest PayPoint location using the Lloyds app or on the PayPoint website.
This service expands cash deposit options beyond traditional bank branches, with PayPoint sites conveniently located within one mile of 99.5% of the UK population. Over 94% of these sites are open seven days a week, enabling deposits at many local convenience stores and shops.
Nick Wiles, chief executive of PayPoint, stated that the new cash deposit feature at PayPoint locations will provide more convenience for Lloyds customers. The ability to deposit cash at PayPoint locations will not replace traditional deposit methods but rather offer an additional convenience for Lloyds customers.
It's important to note that this service does not affect the maximum amount a customer can deposit per day or per month. Customers can still deposit up to £300 per day and £600 per month in notes and coins.
Lloyds customers can still deposit cash through traditional channels such as at Lloyds, Halifax, and Bank of Scotland branches, at over 100 banking hubs, and at 11,500 Post Offices across the UK.
Once deposited, the cash will be visible in customers' accounts within minutes, according to Lloyds. Customers must input the amount they wish to deposit in the app before generating the barcode. The barcode will remain valid for two hours once it has been generated, similar to the previous feature.
This modern cash deposit service integrates physical cash handling with digital convenience, especially useful as bank branches continue to close.
Customers using the Lloyds mobile app can now generate a barcode within the 'Everyday' section, enabling them to deposit cash at over 30,000 PayPoint locations nationwide. This new service will allow customers to conveniently channelize their savings into their banking finance, all while utilizing the advancements in technology for seamless business transactions. With this service expansion, customers can alternatively deposit cash without visiting traditional bank branches, utilizing the nearby PayPoint locations, which are often found within petrol stations and supermarkets.
