Latest news with #cashdeposit
The Independent
5 days ago
- Business
- The Independent
Lloyds becomes UK's first bank to introduce £300 rule from end of this month
Lloyds customers will soon be able to use a new app feature to deposit coins and banknotes into their account at the same time as dropping off a parcel or picking up a pint of milk in stores. 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.'
Daily Mail
6 days ago
- Business
- 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.
The Independent
7 days ago
- Business
- The Independent
Lloyds customers can deposit cash using app while popping to the shop
Lloyds customers will soon be able to use a new app feature to deposit coins and banknotes into their account at the same time as dropping off a parcel or picking up a pint of milk in stores. 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.'
Daily Mail
7 days ago
- Business
- Daily Mail
New Lloyds banking feature lets you deposit cash in shops with 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 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.'
Finextra
7 days ago
- Business
- Finextra
Lloyds launches in-app barcode cash deposit scanning at PayPoint stores
Lloyds is the first major UK bank to launch a mobile app feature which allows cash to be paid in at over 30,000 PayPoint high street locations nationwide, using a simple barcode. 0 Available from the end of the month, customers can go into the 'Everyday' area in their app, to generate a barcode, which can be used to pay in up to £300 per day in notes and coins, up to a maximum of £600 a month, with the barcode valid for two hours. With 99.5% of people living within a mile of a PayPoint store, the new feature will be a boon to customers as banks and ATMs progressively disappear from the high stret. Lloyds episomises this trend. In 2024, the bank revealed that it will be shutting down 292 branches in 2025, and earlier this year the Group announced the closure of 61 Lloyds, 61 Halifax, and 14 Bank of Scotland branches between May and next March. Gabby Collins, payments director at Lloyds, sys: '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."
