The change will “deliver more convenience and access for customers close to where they live”
Lloyds has announced it will soon be adding a new feature to its online banking app that will allow people to pay money into their accounts at more than 30,000 locations across the country. The feature will be available from August 26.
Customers will be able to use the new app feature to deposit coins and banknotes into their account at the same time as dropping off a parcel or buying their shopping 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.”
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After showing the barcode, which will be scanned, and depositing the cash, the money will appear in accounts within minutes, Lloyds said.
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.
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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.”
It comes after the high street bank announced it is offering up to £190 to members for free if they open up a student current account with them from August.
The deal includes £100 in cash and £90 in Deliveroo vouchers to anyone who opens a student account with the bank. The money be given in the form of a cash incentive and £15 a month for six months in Deliveroo vouchers.
