Lloyds customers soon able to benefit from new app feature
People will be able to pay money in at more than 30,000 locations which have PayPoint.
Nick Wiles, chief executive of PayPoint, said the network 'provides a vast range of essential services at the heart of communities across the UK, for everything from banking, utility, parcel, cash and government services.
We're excited to be working with Lloyds, Halifax, and Bank of Scotland to launch a new service that lets their customers deposit cash at your store using their mobile banking app. Thanks for being part of this new service - more updates coming soon! https://t.co/nqbIPJhN63 pic.twitter.com/ZUyUx93ltb
'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.'
After showing the barcode, which will be scanned, and depositing the cash, the money will appear in accounts within minutes, Lloyds said.
Recommended reading:
Customers of Lloyds and its brands Bank of Scotland and Halifax will be able to access it through the 'everyday' area in their app, generating a barcode, which remains valid for two hours.
Customers can also continue using any branch of Lloyds, Halifax or Bank of Scotland for their everyday banking, or pay in cash at more than 11,500 post offices, the bank said.
Gabby Collins, payments director at Lloyds, said: '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.'
The feature will be available from August 26
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Daily Mail
3 hours ago
- Daily Mail
Lloyds Bank introduces app to deposit cash in stores using a barcode
Lloyds customers will soon be able to scan a barcode generated in their banking app to deposit cash into their bank accounts. 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 100 banking hubs and at 11,500 Post Offices across the UK.
Times
3 hours ago
- Times
Business live: Trump tells Goldman Sachs boss to focus on DJing
The Lloyd's of London insurer has lowered its annual premium growth forecast, partly due to subdued demand in its cyber and property risk insurance business. In its first-half results, the company said that it expects gross insurance written premium to grow in low-to-mid single digits, compared with its previous expectation for a mid-single digit growth. It said the market was softening amid strong supply and increased competition. The claims environment remained elevated after climate-related disasters such as the California wildfires and Texas floods as well as heightened cyberthreats, including a wave of ransomware attacks which particularly impacted retailers in the UK and Europe in the first half of the year. Profit before tax fell 31 per cent to $502.5 million in the six months to the end of June, down from $728.9 million in the same half last year. Net insurance written premiums rose by 1 per cent to $2.6 billion in the six months to the end of June. The undiscounted combined ratio, a key metric for insurers where a figure below 100 indicates underwriting profitability, was 84.9 per cent, compared with 80.7 per cent last year. Asian equities followed Wall Street higher as risk appetite returned after US inflation held steady in July, increasing bets on a September rate cut. Traders estimate there is a 94.2 per cent chance of a quarter-rate cut, compared with 88 per cent before the inflation data, as President Trump's tariffs do not seem to have affected the price of goods much so far. The S&P 500 index, seen as a barometer of US corporate health, rose 1.1 per cent to 6,445.76, its 16th record high of the year so far. The technology-heavy Nasdaq also closed on a new high, its 19th of 2025, up 1.4 per cent to 21,681.90. In Asia, Japan's Nikkei rose 1.4 per cent, Hong Kong's Hang Seng gained 1.9 per cent and mainland China's SSE Composite rose 0.4 per cent. The FTSE 100 is expected to open 20 points, or 0.2 per cent, higher. Hopes of a Fed cut next month pushed the dollar lower, which helped the pound to rise about $1.35. President Trump has said that the Goldman Sachs boss David Solomon should focus on 'being a DJ, and not bother running a major financial institution' after the investment bank said tariffs would hurt the economy. On Sunday, Goldman Sachs said US consumers had absorbed 22 per cent of tariff costs through June and that figure could rise to 67 per cent if recent tariffs continue on the same trajectory. Trump wrote on Truth Social after better-than-expected inflation data: 'Trillions of Dollars are being taken in on Tariffs, which has been incredible for our Country, its Stock Market, its General Wealth, and just about everything else. It has been proven, that even at this late stage, Tariffs have not caused Inflation, or any other problems for America, other than massive amounts of CASH pouring into our Treasury's coffers.' He said foreign companies and governments were mostly absorbing the cost of his tariffs, 'but David Solomon and Goldman Sachs refuse to give credit where credit is due. They made a bad prediction … on both the Market repercussion and the Tariffs themselves.' Solomon gave up his hobby as a DJ in 2023 after criticism of the bank's performance.
Glasgow Times
4 hours ago
- Glasgow Times
Lloyds customers can deposit cash using app while popping to the shop
The feature uses a barcode, enabling people to deposit up to £300 per day in notes and coins, up to a maximum of £600 a month. People will be able to pay money in at more than 30,000 locations which have PayPoint. Nick Wiles, chief executive of PayPoint, said the network 'provides a vast range of essential services at the heart of communities across the UK, for everything from banking, utility, parcel, cash and government services. '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.' After showing the barcode, which will be scanned, and depositing the cash, the money will appear in accounts within minutes, Lloyds said. The feature will be available from August 26. Customers of Lloyds and its brands Bank of Scotland and Halifax will be able to access it through the 'everyday' area in their app, generating a barcode, which remains valid for two hours. Customers can also continue using any branch of Lloyds, Halifax or Bank of Scotland for their everyday banking, or pay in cash at more than 11,500 post offices, the bank said. Gabby Collins, payments director at Lloyds, said: '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.'
