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International Business Times UK
International Business Times UK
Business
J. Alas

What Is the £300 Rule and Who Will Be Affected When Lloyds Bank Activates It This September?

Lloyds Lloyds Bank PayPoint United Kingdom
Lloyds Bank launches £300 rule: What it means and how to use it from 1 September 2025 (Credit: Photo by Clément Proust/Photo credit: Pexels)

Lloyds Bank will become the first major UK bank to roll out the '£300 rule' on 1 September 2025, allowing customers to deposit cash using a mobile barcode at over 30,000 locations nationwide. But what exactly is the £300 rule?

According to Manchester Evening News, it's a system that allows Lloyds Bank customers to deposit up to £300 (approximately $382) in cash per day at participating PayPoint locations. A monthly cap of £600 (approximately $764) applies, with deposits possible in both coins and notes. This is the first time a high street bank in the UK has implemented such a feature.

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