Lloyds bank paying in policy

Flobberchops

glider3560 wrote: »

The automated deposit machines have been updated to allow the sort code and account number to be keyed manually (i.e. no card required). Suggests this is down to cost cutting, rather than money laundering reasons.

It could be a transitional step rather than a permanent solution; I'm not sure what Lloyd's strategy is. Cost cutting as you put it is surely a consideration, but other benefits to the bank include reduced queue times for customers and the associated improved customer satisfaction scores, greater transparency in the source of funds if an account is implicated in organised crime or terrorism, and reducing the prevalence of some kinds of fraud.

Certainly the other high street banks are going down the route of asking for identification to make deposits - NatWest some time ago, and Barclays is also making that change, for example.

Flobberchops

PeacefulWaters wrote: »

Has there ever been a machine made with no margin for error?

Has there ever been a cashier with no margin of error, for that matter? There's always scope for mistakes to happen, and generally the more steps in a process, the more chances for things to go wrong. You'd think this would be a strong argument for most people transacting digitally and getting instant confirmation of transactions...!

ValiantSon

forestwn6 wrote: »

Our local Lloyds has now closed, and the nearest branch 4mls away has recently had a makeover. A friend went to pay cash into a charity account. He was refused on the basis that it would delay other customers. After summoning the Manager they reluctantly allowed him to pay in on this occasion. In the future, he is expected to put the money into a "paying in bag" and the bank will count the money and credit it to the account.
As this is a charity account he needs to know that the amount is correct at the time of paying in.
We are now thinking about changing banks to one where personal service still counts. Are we being too hopeful?

None of this encourages me to bank with Lloyds.

No_6

Just hope Mable wont get caught in money laundering