to think a £100 contactless payment limit is asking for fraud

[chomalungma]

It's supposed to boost spending. For some reason.
Announced today in the budget.

I have rarely had to put my PIN in when using contactless. It's rare to see checks done. Unless I am missing something.

So now, if someone steals my card, they could spend a lot of money on it.

I would like to set my own limit. In fact, I would like to have a card that asks for a PIN at a higher frequency at the moment.

I don't really see the advantage of a £100 limit. I do see me forgetting my PIN as I rarely buy many things over £100 when shopping.

www.theguardian.com/money/2021/mar/03/uk-contactless-payment-limit-rise-rishi-sunak-budget

“As we begin to open the UK economy and people return to the high street, the contactless limit increase will make it easier than ever before for people to pay for their shopping, providing a welcome boost to retail that will protect jobs and drive growth,” he said

People will still have the same amount of money to spend - but it's going to be easier because it's a hassle putting in your 4 digit PIN

I think there will still be the max £150 spend on the card until contactless needs to be reset by pin, it's just an individual transaction up to £100 will now go through rather than previous £45.

At the start when contactless came out, I was asked for my pin every 3 transactions. Now its every 10 maybe more.

I don't think they should have changed it tbh, thieves will have a good ole time with stolen cards.

@YummyBelicious

I think there will still be the max £150 spend on the card until contactless needs to be reset by pin, it's just an individual transaction up to £100 will now go through rather than previous £45.

I read that it's £300 now....

I’ve been a victim of contactless fraud and, to give my bank their due, they instantly refunded my money, no questions asked. But I personally think £100 is too high a limit. Imagine if you’ve lost your card and don’t realise until the next day - a fraudster could have spent hundreds before the request for a PIN kicked in, and even if you can get it sorted very quickly, £££s suddenly disappearing from your account can surely cause issues depending on your starting balance (and definitely cause stress).

I can’t remember the last time I needed my PIN.

That is too much, I agree. It's been put up to £45(from £30.) Leave it there.

You could justt turn contactless off in your app then if you aren keen. You wouldn't be liable for fraudulent spending on the card I'm sure

Apple Pay has no limit as far as I can figure out.

My monzo gets me to put my pin in every ten or so transactions.

@VinylDetective

I can’t remember the last time I needed my PIN.

Do you not have to put your PIN in the little PDQ machine after £80 or so of doing contactless payments? I do. And so does everyone I know...

It can't just be indefinite contactless payments. If someone got hold of your debit card, they could wipe out the entire amount of money in your account before you noticed it was missing.

@YummyBelicious

You could justt turn contactless off in your app then if you aren keen. You wouldn't be liable for fraudulent spending on the card I'm sure

I think that you should be able to have more control over your card.

I think you should be able to set it up so:

1. You set the limit
2. You set the number of transactions before a PIN is asked for
3. You can also set a random time

And that should work so when the machine checks if the money is there, it reads what should be done.

@idontlikealdi

Apple Pay has no limit as far as I can figure out.

My monzo gets me to put my pin in every ten or so transactions.

My bank (Natwest) does this, and so does DD's (Barclays.) It would be around £80 worth... So the amount of payments they would allow me depends on how much the payments are... So I would need to enter the PIN, after 8 payments of £10, and I would need to enter it after 4 payments of £20 each. etc....

If they are going to raise the limit to £100, then I think any series of transactions that go over £100 should ask for a PIN

So £100 and then you try £2
It should ask you then.

I'd be happy with it being raised

I'd love to set my own limit

I've not handled cash for over a year - I suspect many people are like me

I have been using contactless payment for years - have put my pin in twice (both in Aldi oddly enough....)

I get my scan & shop shopping checked more frequently than I get pin checks...

Apple Pay has no limit because of the need to either use Face ID/thumb/ phone pin in addition to using the phone to pay - extra security already

Apple Pay doesn’t have a limit, however it does use biometrics to authenticate so is more secure.

I get my scan & shop shopping checked more frequently than I get pin checks

Me too

I've not handled cash for over a year - I suspect many people are like me

Cash is irrelevant. It's not difficult putting in a PIN.

I've not used my card in ages, I use my phone to pay because it doesn't have a limit.

Apple Pay doesn’t have a limit, however it does use biometrics to authenticate so is more secure.

Apple Pay doesn’t have a limit, however it does use biometrics to authenticate so is more secure. not on the watch it doesn’t.

I will certainly be panicing now if I lose my bank card. £30 was reasonable. £45 was not dreadful but £100 is just asking for trouble.

Theives will be having a field day

I've never had to confirm my pin with contactless, I didn't even know this was a thing?

I'd of thought it would make more sense to reduce the price, rather than increase it.

Less people would be touching the buttons if the spending price was lower. Now more people going to be touching because not everyone is going to spend 100 each time they use their card.