Overview of Lloyds Bank’s New Cash Deposit Feature
Lloyds Bank introduced a groundbreaking new cash deposit feature in August 2025, becoming the first major UK bank to enable customers to deposit cash using a simple barcode generated in the mobile app. This innovation partners with PayPoint, allowing deposits at over 30,000 local stores nationwide without needing a debit card or branch visit. The Lloyds Bank new cash deposit feature addresses growing demand for convenient cash handling amid branch closures and digital shifts, offering a secure, quick way to pay in notes and coins while shopping or running errands.
How the Barcode Cash Deposit Works
The Lloyds Bank new cash deposit feature is seamlessly integrated into the Lloyds, Halifax, and Bank of Scotland mobile apps. Customers navigate to the “Everyday” section, select their account, and generate a unique barcode valid for two hours. At a participating PayPoint store found in convenience shops, newsagents, and petrol stations the cashier scans the barcode, accepts the cash (notes and coins), and issues a receipt. Funds typically appear in the account within minutes, always within two hours. No debit card is required, enhancing security and ease.
Deposit Limits and Eligibility
With the Lloyds Bank new cash deposit feature, personal current account holders can deposit up to £300 per day and £600 per month in notes and coins. These limits balance convenience with fraud prevention. The feature is available to Lloyds Banking Group customers (including Halifax and Bank of Scotland) using the latest app version. Business accounts may gain access later. Deposits are free, with no charges from Lloyds or PayPoint.
Benefits of the New Feature for Customers
The Lloyds Bank new cash deposit feature significantly expands access, as 99.5% of UK residents live within one mile of a PayPoint location, and 94% of stores operate seven days a week. It complements existing options like branches, 11,500 Post Offices, and banking hubs, providing unmatched flexibility. For cash-reliant users such as those receiving tips, gifts, or small business takings this means deposits during everyday shopping, reducing trips to distant branches. Early adoption saw over £3 million deposited shortly after launch.
Finding Participating PayPoint Locations
Locating stores is easy with the Lloyds Bank new cash deposit feature. The mobile app includes a built-in store finder showing nearby PayPoint outlets. Alternatively, visit the PayPoint website for a full locator. Most locations are everyday retailers, making deposits convenient alongside other tasks like parcel collection or bill payments.
Security and Transaction Details
Security is prioritized in the Lloyds Bank new cash deposit feature. The time-limited barcode prevents misuse, and transactions are encrypted. Customers receive immediate receipts, and funds are protected under standard banking guarantees. If issues arise, contact Lloyds support via app or phone. This cardless method reduces risks associated with carrying debit cards for deposits.
Comparison with Other Cash Deposit Options
Lloyds offers more ways than competitors: branches for unlimited deposits, Post Offices for everyday banking, and now PayPoint via the new cash deposit feature. Unlike digital banks like Monzo (debit card required at PayPoint), Lloyds’ barcode is card-free. This hybrid approach supports cash users while encouraging app engagement.
Lloyds Bank continues enhancing digital tools while maintaining cash access amid branch reductions planned through 2026. The new cash deposit feature aligns with broader trends toward community-based banking services.
Conclusion
The Lloyds Bank new cash deposit feature revolutionizes cash handling by bringing secure, app-based deposits to thousands of local stores. With generous limits, widespread availability, and seamless integration, it sets a new standard for convenience in UK banking. Whether managing daily cash or occasional large deposits, this innovation ensures flexibility without compromising access.
FAQs
What is Lloyds Bank’s new cash deposit feature?
The Lloyds Bank new cash deposit feature allows barcode-generated deposits at over 30,000 PayPoint stores using the mobile app.
How do I use the barcode for cash deposits?
Generate a barcode in the app’s “Everyday” section, take it to a PayPoint store, and hand over cash for scanning.
What are the deposit limits with this feature?
Up to £300 per day and £600 per month in notes and coins.
How long is the deposit barcode valid?
The barcode remains valid for two hours after generation.
When do funds appear in my account?
Usually within minutes, always within two hours.
Can I still deposit cash at branches or Post Offices?
Yes the new feature complements branches, banking hubs, and over 11,500 Post Offices.
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