Customers of Lloyds bank have deposited over £1 million with PayPoint's BankLocal service within a month of the app-based cash deposit feature going live.
Lloyds is the first major UK bank to launch the mobile app feature which allows cash to be paid in at over 30,000 PayPoint high street locations nationwide, using a simple barcode.
Users can 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 successful roll out demonstrates a clear demand for local cash deposit services as banks and ATMs progressively disappear from the high street.
Anthony Sappor, retail propositions and partnerships director, PayPoint, said: “The speed in which the BankLocal service has reached this milestone validates the consumer demand for this service. Thanks to our network of over 30,000 PayPoint retailer partners nationwide, we’re looking forward to seeing the service continue to build momentum and deliver an essential banking service to even more customers in the future.”