Lloyds Bank Becomes First in UK to Launch £300 Daily Deposit Rule at 30,000 PayPoint Locations

Lloyds has introduced a groundbreaking new rule across the UK, allowing customers to deposit up to £300 per day at more than 30,000 PayPoint locations nationwide. This makes Lloyds the first bank in the UK to offer such a service.

Starting August 26, customers can use a new feature in their Lloyds, Bank of Scotland, or Halifax app to generate a barcode. By presenting this barcode at a PayPoint store, they can deposit coins and banknotes while shopping or even dropping off parcels.

According to Nick Wiles, CEO of PayPoint, the network already plays a key role in local communities, offering services such as banking, parcel handling, cash, and government transactions. He highlighted that this new feature will make cash deposits more accessible and convenient for customers.

Once scanned, deposits will appear in customers’ accounts within minutes. The system allows a daily limit of £300 and a monthly limit of £600. The barcode generated in the app remains valid for two hours, ensuring secure and fast processing.

This move strengthens Lloyds’ position as a leader in digital banking innovation while expanding financial access to communities across the UK.