Overview

• Customers of Lloyds, Halifax and Bank of Scotland will activate the deposit feature in the Everyday section of their banking apps.
• Each barcode, valid for two hours, can be scanned at more than 30,000 PayPoint sites, 94% of which operate daily and 99.5% of which are within a mile of residents.
• Cash lodgements are capped at £300 per day and £600 per month, with funds appearing in accounts within minutes of payment.
• Lloyds positions the launch as a banking first that complements existing deposit options including ATMs, branches, Post Office hubs and cash machines.
• PayPoint CEO Nick Wiles said the partnership will bring essential banking services closer to customers through its widespread retail network.