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Millions of customers at Lloyds, Halifax, and Bank of Scotland are set to experience a significant shift in service as their ability to deposit cash at Post Offices via pay-in slips will be
scrapped. The Lloyds Banking Group has confirmed that from June 2, the use of pay-in slips for cash deposits at Post Offices will be phased out, reports Birmingham Live. Martyn James, a
consumer rights champion, expressed concern over the impact on those who rely on traditional banking methods: "Being able to deposit cheques simply and easily is a vital lifeline."
James emphasised the potential negative effects on older individuals, saying, "With millions of cheques still issued each year, and older people relying on them far more than other age
groups, this group stands to lose the most from these changes." A spokesperson for Lloyds Banking Group highlighted that customer habits are evolving: "Most customers use our app
as the easiest way to pay in a cheque, by taking a photo on their phone and letting us take care of the rest." In response to dwindling numbers opting for Post Office deposits, the
spokesperson added, "Very few customers are choosing to deposit cheques in at the Post Office." The provision of Post Office banking services includes depositing money into
accounts with or without a debit card and checking account balances. Moreover, the service extends to cash withdrawals, providing free access to up to £300 daily. Lloyds Banking Group
advises: "Use your debit card and PIN to pay cash into your account. We'll count your cash and give you a receipt. You'll have instant access to your money." The bank
also sets out monthly and annual limits, clarifying, "You can pay in up to £2,995 a month and up to £20,000 a year. If you have a joint account, you can both pay in up to £2,995 a month
and £20,000 per year." Regarding cheque deposits, the guideline notes: "You'll need to use a cheque envelope and a paying-in slip if you're paying-in a cheque. Cheque
envelopes are available in the Post Office. We'll need to order paying-in slips for you so either give us a call or you can order them when you next call into a branch. "It may
take up to two working days for cheques paid in at a Post Office to reach your account. If you're paying-in cash and cheques at the same time, you'll need separate paying-in slips
and cheque envelopes. From December 31, 2025 you'll no longer be able to pay cheques into your account at the Post Office."