Chase UK Ties Up With PayPoint to Bring Cash Deposits to More Than 30,000 Retail Locations
Chase UK Ties Up With PayPoint to Bring Cash Deposits to More Than 30,000 Retail Locations #
Chase UK has launched a cash deposit service through PayPoint, giving customers the ability to pay money into their current accounts at more than 30,000 convenience stores, newsagents, and other local retailers across the country.
The service is free and accepts both notes and coins. Each deposit must be at least £10, and customers are limited to £500 per month and £6,000 per year. Funds typically appear in the account within ten minutes of the transaction at the till.
To make a deposit, customers open the Chase app, select the ‘Pay in’ option, choose the target account, and enter the amount. The app generates a unique barcode valid for 20 minutes, which any participating PayPoint retailer can scan before accepting the cash. Customers receive a receipt confirming the transaction.
PayPoint’s coverage underpins the practical value of the arrangement. According to the companies, more than 99% of the UK population lives within one mile of a PayPoint location, with many stores open until midnight. For Chase, a digital-only bank with no physical branches, that network provides a nationwide cash-handling infrastructure without operating its own retail estate.
Paridhi Rathore, head of payments for Chase, said the partnership was designed to combine app-based banking with the practical ability to deposit cash locally. Anthony Sappor, banking and digital engagement director at PayPoint, pointed to the continued importance of cash access in communities across the UK.
The service fills a gap that Chase UK customers had flagged since the bank’s British debut, with no cash deposit option previously available. Chase joins several other digital banks, including Monzo and Starling, that already offer over-the-counter cash deposit services through retail or Post Office networks.
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