Lloyds Bank will launch a revolutionary cash deposit feature on Tuesday, allowing customers to pay money into their accounts while shopping. The service uses a barcode system generated through the bank's mobile app, which can be scanned at over 30,000 PayPoint stores nationwide.
Customers can deposit up to £300 daily and £600 monthly using the new feature. The barcodes remain valid for two hours after generation, giving users flexibility when making deposits.
Digital banking breakthrough
The service represents a significant shift in how customers handle cash banking. It eliminates the need to visit physical bank branches for deposits, offering a more convenient alternative through everyday retail locations.
Only bristolpost.co.uk reports that the feature extends beyond Lloyds to include Bank of Scotland and Halifax customers. Funds appear in accounts within minutes after deposit, according to the same source.
Industry leadership claims
Lloyds positions itself as the first UK bank to introduce this specific cash deposit technology. The move comes as banks increasingly seek alternatives to traditional branch services.
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."
Retail partnership expansion
The collaboration leverages PayPoint's extensive retail network across the UK. Nick Wiles, chief executive of PayPoint, said: "Our leading retail 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 new service adds to existing alternatives, including deposits at 11,500 Post Office locations. The PayPoint network significantly expands accessible banking points for cash transactions.
Sources used: "Express", "Edinburgh Live", "Glasgow Live", "bristolpost.co.uk" Note: This article has been edited with the help of Artificial Intelligence.
