Lloyds Bank issues ‘up to £300’ alert to all customers | Personal Finance | Finance

Lloyds Bank has issued an alert over payments of “up to £300” as it launches a new feature.

The financial institution has millions of customers across the UK and, on Tuesday, announced it is the “first major UK bank to launch a mobile app feature which allows cash to be paid in at over 30,000 convenient locations nationwide, using a simple barcode”.

From August 26, Lloyds customers will be able to generate barcodes via the banking app, which can then be scanned at over 30,000 PayPoint locations across the UK.

Customers will be able 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.

Lloyds added that 99.5% of people live within a mile of a PayPoint store, and that these can also be used to return or collect parcels, top up mobile phones, and pay bills.

Otherwise, Lloyds customers can continue to use branches to pay cash in, use Lloyds cash in and out machines across the UK, or use banking hubs at Post Offices.

Gabby Collins, payments director at Lloyds, said: “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. With this new innovation, no other UK bank offers as many ways to manage money as Lloyds.”

Nick Wiles, CEO of PayPoint, said: “Our leading retail network provides a vast range of essential services at the heart of communities across the UK, for everything from banking, utility, parcel, cash and government services.

“The ability of Lloyds customers to make cash deposits into their accounts at over 30,000 PayPoint locations will deliver more convenience and access for customers close to where they live.”