Lloyds expands cash deposits with barcode deposits

Lloyds Bank launches a barcode cash-in feature at PayPoint locations, with daily and monthly deposit caps.

Lloyds Sets Cash Deposit Limit at 300 Pounds from August 26

Lloyds Bank will start a barcode cash-in feature on August 26, letting customers deposit cash at more than 30,000 PayPoint sites by scanning a barcode from the banking app. The barcode is valid for two hours and deposits are limited to 300 pounds per day and 600 pounds per month. The rollout expands the bank's reach beyond branches and ATMs and is described as the first major UK bank to offer this method.

Customers can still head to Lloyds, Halifax and Bank of Scotland branches, use cash-in/out machines, or visit Banking Hubs run by the Post Office for cash handling. The service is designed to help people who shop locally and need a quick way to pay in cash, with PayPoint sites open seven days a week at most locations.

The move shows how banks blend digital tools with physical access points to keep cash relevant. A barcode deposit system reduces a trip to a branch and strengthens Lloyds’ position as a flexible, customer-focused lender. It also signals how networks like PayPoint remain essential in a cash ecosystem that is gradually shifting toward digital payments.

Yet the policy raises questions about long term cash usage, privacy at public PayPoint locations, and who ultimately bears the cost if more customers choose barcode deposits. If the approach spreads, rivals may react with their own expansions, intensifying competition in a space where convenience and reliability matter most for everyday banking.

Highlights

The cash landscape keeps reshaping as digital tools meet traditional services.