The rules can vary depending on which Lloyds branch you are visiting
Lloyds Bank has clarified account rules that customers may be unaware of about its branches. The banking group has explained a restriction that may apply to you after a very specific query from one of its customers.
The person reached out to Lloyds via social media, wishing to deposit some coins at a branch. They enquired: “Can you tell me how many £1 coins can I take to the bank to change at anyone time please, as I have £700 worth.”
Customers can pay money into their Lloyds account at a branch using either cash or cheque. Some locations have cash machines where notes can be deposited by following the on-screen instructions. However, if you’re looking to deposit coins, it’s advisable to contact your local branch beforehand.
‘Best to check’
In response to the customer, Lloyds said: “The amount of coins we can accept can vary by branch, so it’s best to check with your local branch before visiting. Large amounts like £700 may need to be paid in over more than one visit or in pre-bagged coin.”
Another alternative for depositing coins is to visit your nearest Post Office. Information on the Lloyds website confirms that the Post Office will only accept full bags of coins for denominations below £1.
The guidance states: “This will need to be for the amount shown on each bag.” Customers can deposit £1 or £2 coins in part bags, provided the coins are divided into the two separate denominations.
The maximum amount that can be deposited in this manner is £250 worth of coins. The guidance also states: “Each Post Office branch may have different cut-off times for paying-in cash.
“If you deposit after the cut-off time, an extra working day to process your deposit may apply. Check with the Post Office you want to use.
“These services are available on working days at any branch of the Post Office within England, Wales, Scotland or Northern Ireland. It excludes branches in the Channel Islands or the Isle of Man.”
