Customers can now deposit up to £300 per day in notes and coins, with a monthly limit of £600
Lloyds Bank is now giving its customers a new way to deposit money into their accounts without having to go into a branch. It has become the the first major UK bank to introduce a mobile app feature that allows people to put cash into their account – be it birthday money, wages or savings – at more than 28,000 convenient locations across the country, using a barcode.
This new feature was introduced earlier in September, so customers can now generate a barcode in the ‘Everyday’ section of the Lloyds Bank app. This barcode can then be scanned at more than 28,000 PayPoint locations nationwide, with 94% of PayPoint sites open seven days a week.
Customers now have the ability to deposit up to £300 per day in notes and coins, with a monthly limit of £600, and the barcode will remain valid for two hours. With 99.5% of the population living within a mile of a PayPoint store, they offer a convenient way to carry out many everyday tasks.
Customers can locate their nearest PayPoint outlet using the Lloyds app or by visiting the PayPoint website. Customers can still use branches of Lloyds, Halifax and Bank of Scotland for quick and easy cash deposits, reports the Manchester Evening News.
Account holders can also make use of Lloyds’ cash in and out machines located throughout the country. Customers can also visit a Banking Hub, available nationwide, which offers counter services run by the Post Office. Furthermore, they can utilise any of the 11,500 Post Offices across the UK for their everyday banking needs, including cash deposits or withdrawals, as confirmed by the banking group.
Gabby Collins, payments director at Lloyds, said: “We’re always looking for smart ways to make banking more flexible and give customers more choice. Our latest app feature now allows customers to pay in cash at their local PayPoint in just a few minutes – ideal if they are popping in for milk or dropping off a parcel. With this new innovation, no other UK bank offers as many ways to manage money as Lloyds.”
How to use the PayPoint feature in the Lloyds app
- Go to your home screen in the app and choose an account you want to deposit into. Next, select the 3-dot menu and select ‘Deposit cash’.
- If it’s your first time using the service, select ‘How to use PayPoint’. If it’s not, go to step 3.
- Next, follow the instructions on how to ‘Create barcode’. You will be asked to enter the amount you want to pay in. There is a daily limit of £300.
- Take your phone and cash to any PayPoint store. The retailer will count your cash and scan your barcode.
- Once your deposit has been accepted, you’ll be given a paper receipt. Your money should show in your account in minutes, and always within two hours.
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