- New service gives Chase customers a simple way to pay cash into their current account through PayPoint retailers
- Customers can generate a barcode in the Chase app and have it scanned at a participating PayPoint location
- More than 30,000 PayPoint locations are available across the UK, with over 99% of the population living within one mile of a PayPoint store
- Customers can deposit up to £500 a month, with no fee for using the service
- Cash will usually appear in the customer’s Chase account within 10 minutes
Chase has announced a new partnership with PayPoint that will enable customers to pay cash directly into their Chase current account at more than 30,000 PayPoint locations across the UK.
The new service gives Chase customers more choice in how they manage their money, combining the convenience of digital banking with the ability to deposit notes and coins locally.
It reflects the continued importance of access to cash services in the UK, giving customers a convenient way to pay cash into their account in communities across the country.
More than 99% of the UK population lives within one mile of a PayPoint store, with some locations open until midnight.
To make a deposit, customers simply select “Pay in” within the Chase app, choose the current account they want to pay into and enter the amount they want to deposit. The app then generates a barcode, valid for 20 minutes, which can be scanned by the cashier at a PayPoint location before the customer hands over their cash. Customers receive a receipt and the money will appear in their Chase account within 10 minutes.
Customers can deposit both notes and coins, with a minimum deposit of £10. They can deposit up to £500 each month, subject to an annual limit of £6,000, with no fee for using the service.
“We want banking with Chase to fit around customers’ lives, giving them simple and convenient ways to manage their money,” said Paridhi Rathore, Head of Payments for Chase, said:
“Our partnership with PayPoint gives customers the best of both worlds: the ease of managing their money through the Chase app, with the option to deposit cash locally when they need to.”
Anthony Sappor, Banking and Digital Engagement Director at PayPoint, said: “With more than 30,000 PayPoint locations nationwide, we're proud to provide Chase customers with a simple, convenient way to deposit cash locally and securely whenever they need to.”
By combining Chase's digital banking experience with PayPoint's nationwide retail network, we're making it easier for customers to access essential banking services in the communities where they live and work.”