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.
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 street.
Lloyds epitomises 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."