The FCA could 'remove the £100 contactless limit' to allow shoppers 'greater flexibility' when making payments

[Chippy_Tea]

I am a bit of a luddite when it comes to contactless card payments and only recently started to use it as my previous card didn't have it, i don't think this is a good idea and agree with
shutupayouface (below) in the article, why cant they give us the option to keep the limit or even set our own limit so people don't worry about card fraud.




The contactless limit for card payments could soon be removed, in a major shake-up to how you pay at the tills.

The financial regulator confirmed it could “remove the £100 contactless limit” to allow shoppers “greater flexibility” when making payments. The contactless card payment limit has been raised several times over the years. It was increased to £20 in 2012, then to £30 in 2015, before going up to £100 in October 2021.

There is usually no limit to the number of contactless transactions you can make in a day - however, you may be asked to enter your PIN if you make a lot of purchases. The Financial Conduct Authority (FCA) confirmed it would be looking into contactless payments after the Government asked what steps the regulator could take to help support economic growth.

shutupayouface
Well that's a non idea, Why would any government wish to remove controls on the security of credit/debit cards. The only people to benefit from this action is the fraudster. At least at present a lost card has only limited use to a Finder or thief before its reported. This idea opens the floodgates. Me, I'd just stop using the cards and only use cash.

https://www.mirror.co.uk/money/huge-change-card-payments-shake-34536848

 

[Rodcx500z]

It's being done because people are moaning, because of the cost of living you don't get much shopping for £100

 

[Chippy_Tea]

It's being done because people are moaning, because of the cost of living you don't get much shopping for £100

I get that but as i said why do we all have to have the limit lifted surely we should be given the choice to stay on the current limit, set a limit or accept the change.

Can you not pay using your pin if its more than £100?

 

[jof]

It's being done because people are moaning, because of the cost of living you don't get much shopping for £100

Yet £50 notes are not in common use or issued at cash points.

I say this as cashponts still only issue the £10 & £20 notes as they did back in the late 80's.
So with inflation a £50 note is worth a lot less than £20 back then, so why isn't it in wider use.

 

[Rodcx500z]

I get that but as i said why do we all have to have the limit lifted surely we should be given the choice to stay on the current limit, set a limit or accept the change.

Can you not pay using your pin if its more than £100?

Thats what they are moaning about people just want to swipe and go, i don't even use my card i use my phone

 

[Chippy_Tea]

Thats what they are moaning about people just want to swipe and go, i don't even use my card i use my phone

I get that but why should we all have to accept the card limit being lifted to hundreds of pounds per transaction we should be given the option.

Worst case scenario you lose your card and someone wipes your account out before you notice due to you not having many hundreds of pounds in it and its the day your bills are paid from that account.

Again i will say if they want to bring in a zero limit fine just let people decide themselves whether to accept it or not.

 

[Rodcx500z]

I get that but why should we all have to accept the card limit being lifted to hundreds of pounds per transaction we should be given the option.

Worst case scenario you lose your card and someone wipes your account out before you notice due to you not having many hundreds of pounds in it and its the day your bills are paid from that account.

Again i will say if they want to bring in a zero limit fine just let people decide themselves whether to accept it or not.

I agree if you don't want it you should be able to opt out

 

[klaus]

I keep my debit card limit to less than £40 - because that comes straight from the current account.
Credit card is higher than that but then I don't use it that much ....

Frankly I don't think that will help with the elusive growth of the economy.

 

[Chippy_Tea]

I think I will email the bank and ask what they intend to do if this does come in.

 

[Clint]

Chap I know took Barclays to court as he requested a non,non contact card and they kept sending a non contact. He won.

 

[MickDundee]

I forget to take my wallet out with me half the time now. I use my phone or my watch for 99% of my in person payments.

 

[brewingnoob]

As an aside for people that want more, if you use Google Pay (maybe Apple Pay too) contactless payment there isn't any limit. For years I haven't carried cards or money, only my phone. But I keep a limited amount of money in the active balance.

 

[brewingnoob]

Chap I know took Barclays to court as he requested a non,non contact card and they kept sending a non contact. He won.

Sounds like a lot of effort compared to just using a different daily bank account that allows disabling contactless

 

[Rodcx500z]

I have a monzo card which i limit to 200 quid so if i get scamed that's all i lose

 

[Chippy_Tea]

I forget to take my wallet out with me half the time now

Its been a long time sinse I have carried a wallet I use a phone case as I have by law to carry my CPC card and I always carry my bank card.

 

[LeeH]

Drop your card in the street, what could possible go wrong?

Personally I always use Apple Pay on my phone/watch and only a credit card is linked. No access to my bank account whatsoever limiting any risk,

Not that you'd get much out of it..

 

[old dog new tricks]

I have a solution to this i generally never have more than £60 available i n my account at any given time when its rejected i stop buying

 

[Stu]

From a personal point of view, I mostly use Apple Pay or Google Wallet which has no maximum. However, they both need my fingerprint which IMHO is as secure as a pin.

I'd rather use a pin if it's over £100. It's not really asking for much, but protects me.

Are you aware that you can actually ask for a lower amount? So if it does go up to £250 or whatever, you can lower it.

 

[tondy79]

Setting personal limits for contactless is a worthwhile feature, and is already offered by some of the "newer breed" of banks, such as Monzo. Probably other banks would do this on request if it isn't available through the app or whatever.