Chase has launched a new partnership with PayPoint that lets customers pay cash directly into their Chase current account at more than 30,000 PayPoint locations across the UK.
The 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, offering a convenient way to pay cash into an account in communities nationwide.
How the deposit service works
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 select 'Pay in' within the Chase app, choose the current account they want to pay into, and enter the amount they wish to deposit.
The app then generates a barcode, valid for 20 minutes, which is scanned by the cashier at a PayPoint location before the customer hands over the cash. Customers receive a receipt and the money appears in their Chase account within 10 minutes.
Deposit limits and fees
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.
Partnership comments
Paridhi Rathore, head of payments for Chase, said: "We want banking with Chase to fit around customers' lives, giving them simple and convenient ways to manage their money. 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."
