New Lloyds banking feature lets you deposit cash in shops with a barcode
The banking giant has launched a new 'barcode cash deposit' feature which will allow customers to deposit cash at over 30,000 PayPoint locations around the country.
The feature, a first from a big bank, will be available from 26 August when customers will be able to generate a cash deposit barcode in the 'Everyday' area of their Lloyds app. Customers must input the amount they wish to deposit in the app.
Customers will then be able to deposit cash at a PayPoint store. These are multi-purpose counters, often found within petrol stations and supermarkets, where people can return or collect parcels, pay bills, buy gift cards or top up a mobile phone.
The feature aims to make it more convenient for customers to deposit cash should the need to - 'ideal if they are popping in for milk or dropping off a parcel,' says Gabby Collins, payments director at Lloyds.
Customers will be able to pay in up to £300 per day in notes and coins, up to a maximum of £600 a month, and the barcode will be valid for two hours once it has been generated.
Once deposited, the cash will be visible in customers accounts within minutes according to Lloyds.
Customers can find their nearest PayPoint location using the Lloyds app or on the PayPoint website.
There are over 30,000 such services up and down the country and 99.5 per cent of people live within a mile of one, according to Lloyds.
Lloyds customers will still be able to deposit cash through traditional channels such as at Lloyds, Halifax and Bank of Scotland branches, at over 00 banking hubs and at 11,500 Post Offices across the UK.
Nick Wiles, chief executive of PayPoint, said: 'The ability of Lloyds customers to make cash deposits into their accounts at over 30,000 PayPoint locations will deliver more convenience and access for customers close to where they live.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Daily Mail
26 minutes ago
- Daily Mail
Lloyds, Halifax, NatWest, and Bank of Scotland to shut 113 branches
Lloyds, Halifax, NatWest, and the Bank of Scotland are to shut 113 branches by the end of November. In total, 24 Lloyds, 31 Halifax, 46 NatWest, and four Bank of Scotland sites will close for good between August 20 and November 20. Dates are yet to be confirmed for the closures of a further eight NatWest branches. The Lloyds Banking Group in January cited the closures on customers moving away from banking in person to using mobile services. The move came weeks after the finance firm shook up its business to allow customers of Lloyds, Halifax and Bank of Scotland to use stores across any of its brands. In the wake of the Horizon IT scandal, the Post Office is also planning to close 115 branches, leaving many communities with nowhere to access their money or discuss financial issues in person. And Jenny Ross, money editor at consumer group Which?, said: 'Schemes introduced by the banking industry to protect these services, such as banking hubs, are a good start in plugging gaps left by closing physical branches, but they must be rolled out much more quickly if consumers are to feel their benefits. 'The government must hold banks' feet to the fire to ensure the commitments they've made to set up 350 hubs by 2029 are met - and should be prepared to review the target upwards if necessary.' While many people now use their bank's app or telephone banking to manage their cash, there remains a large proportion who are unable to do so. According to charity Age UK, only 14 per cent of those aged 85 and above bank online, - with 58 per cent relying on face-to-face banking. The ongoing wave of branch closures has triggered fears that elderly, isolated people risk being hit hardest. Bank bosses have been accused of 'engaging in a race to close branches', which resulted in the Financial Conduct Authority (FCA) introducing measures to ensure a 'reasonable provision of cash deposit and withdrawal services' last year. NatWest Group, which comprises NatWest, Royal Bank of Scotland and Ulster Bank, has closed 1,428 branches since January 2015 - the most of any banking group, research by Which? revealed. Lloyds Banking Group was hot on NatWest Group's heels, however, shutting down 1,243 locations over the same period. Which? also reported that Barclays was the individual bank that has most dramatically decreased its branch numbers, with 1,228 branches now closed over the last nine years.
The Independent
28 minutes ago
- The Independent
How could stamp duty and council tax be replaced with new ‘property taxes'?
Plans for a new tax on the sale of homes worth over £500,000 are reportedly being considered by the Treasury, potentially marking a major change to the stamp duty and council tax system. Ahead of the autumn Budget, chancellor Rachel Reeves has asked officials to calculate how a new 'proportional' property tax would work in the UK. The overhaul would see a national property tax replace stamp duty on owner-occupied homes, sources told The Guardian. Council tax could also be replaced with a local property tax, helping to boost ailing local authority finances. The plans have reportedly drawn on the findings of a report from centre-right think tank Onward, published in August last year, which lays out criticism of stamp duty and council tax, and steps to replace them. Here's how the plans would change the UK tax landscape: What is stamp duty and how could it change? Under current rules, stamp duty is a levy paid by the buyer of residential property, varying based on the price of the property and whether it is their first purchase. Since April, first-time buyers have had to pay stamp duty when purchasing a home worth up to £300,000 thanks to 'stamp duty relief'. After this they will pay five per cent on the remaining amount, up to £500,000. Anything above this and the relief is voided. For anyone buying a second home, there is no stamp duty paid on the first £125,000, increasing to two per cent up to £250,000, five per cent up to £925,000, ten per cent up to £1.5m, and twelve per cent on everything above that. In 2023/24, the levy brought in £11.6 billion for the government. The speculated change would see this system change, introducing a new tax on the sale of a property when it is worth above £500,000. This levy would be proportionate to the property's value, and paid at a rate set by HMRC. This would be payable by the new owner of the property, only on the amount above £500,000. This would mean the owners of a property worth just over the threshold would pay a 'trivial' amount, Onward's report claims. Could council tax be replaced? Another mulled concept would see council tax replaced with a new local property tax, complimenting the 'national' property tax. It will be a tax on property value paid by the owner, the Onward report explains, and at a rate set by each local authority. This should be levied on values up to a cap of £500,000 in a bid to ensure that richest areas are not able to set far lower rates than those with less valuable properties. This would address a key criticism of the council tax system that how properties are valued is unfair and inaccurate. The 'band' of council tax that all properties pay is based on values last evaluated in 1990s, which have become drastically outdated in many places. The local property tax concept would instead see tax liable on properties based on their value at the last point they were sold, meaning valuation would be regularly updated. However, both of the proposed taxes have been criticised as a tax that will disproportionately hit people living in areas where property prices are higher. The effect would be particularly acute in London says Simon Gerrard, chairman of Martyn Gerrard Estate Agents, who told The Independent that it would amount to a 'London tax'. He said: 'Rightmove's latest figures for August show that the average price of a property in London is now £666,983. Upping taxes for properties over £500K is not making the wealthy pay their fair share, it's a tax on ordinary Londoners.' No final decisions have been made on the plans, and the government has not commented publicly on their veracity.
The Independent
28 minutes ago
- The Independent
Clubs must wait until October for confirmation of 2026 Super League status
Super League clubs must wait until five days after this season's Grand Final to confirm their status in next season's potentially restructured top flight. The current top 12 clubs voted last month to expand the competition to 14 from 2026, subject to enough applicants meeting tight financial and sustainability criteria. The top 12 will still be determined by existing IMG grading scores, with the possible additional clubs picked by a seven-strong panel of experts. Clubs – including those who face the prospect of dropping out of the existing top 12 in the IMG table – must express their intention to apply by next Wednesday, with the composition of next season's Super League announced on October 16. Crisis-hit Salford, who are battling to complete their season after forfeiting last week's game against Wakefield, are expected to drop out of contention, effectively leaving three top-flight places up for grabs. The PA news agency understands that Bradford Bulls, who last played in Super League in 2014, are in pole position to replace Salford in the 12th spot, leaving Toulouse, York and London as front-runners for the remaining places. The panel, which will consider criteria additional to those already set out by IMG, specifically relating to financial status and sustainability going forward, will be chaired by RFL non-executive director Lord Caine. Caine said: 'I am honoured to have been asked to chair the panel to determine whether the Betfred Super League expands from 12 to 14 in 2026 and, if so, which clubs will take up the 13th and 14th positions in the competition. 'This panel consists of individuals with the considerable knowledge and expertise necessary to ensure that the process is both thorough and robust. 'All of our proceedings will be conducted on the basis of absolute fairness, rigorous impartiality between the applicants, total independence and, of necessity, complete confidentiality.' The seven-strong panel will also include two fellow non-executive RFL directors Abi Ekoku and Dermot Power, RFL chief executive Tony Sutton, interim head of legal Graeme Sarjeant, RL Commercial managing director Rhodri Jones and Super League (Europe) board member Peter Hutton. The composition of next season's Championship and League One competitions – which are expected to merge – is set to be confirmed later this week.
