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.

My card is at the end of it's useful life anyway so I only get it to work very occasionally, but I agree it is a thief's dream, and actually not even a "taking from person" you only need to look on local FB pages to see how often cards are found (possibly moreso as people have them in their phone cases as it seems purses and handbags have gone out of fashion)

@Heyahun

Meh if it happens you just get the money back easy enough once you report card stolen

That'll be a comfort if someone can't top up a leccy meter after their card gets nicked. 🙄

kowari supermarkets here still take cash for the weekly shop.

@TheRedBalloon

I requested a non contactless card from my bank, so I have to use my pin for every transaction. I still use cash when I can though.

So you've had one recently?

Maybe I'll go to the bank to ask.

The only frauds on my account have been "Starbucks £5.70" or "M&S £9". I have never had anything taken at a level that was noticeable. This is what debit card fraudsters do. Raising the limit from £45 to £100 will not make a difference.

kowarisupermarkets here still take cash for the weekly shop.
Mine does too, I just mean I'll take it out when I know I'm going to use it, like I do my shopping bags, then carry around a small amount of cash for any incidentials.

@ThatchersCold

£100 limit alongside everyone in shops wearing masks...I can’t see any potential issues here at all if cards get stolen 🤔

Do they ask for photo id when making purchases where you are?

I always thought you needed to put your PIN in after 5 transactions so I've always made sure to keep a check on how many I've done in a row and then used the pinpad on number 6 . I didn't know there was a total limit of £130 until recently but I'm a bit confused because I've just checked the last 5 I did and they total £178 .
Maybe each bank does things differently - I'm with Lloyds - if anyone else has noticed this I would love to know.

Aren't people going to start forgetting their PINs for when they do need them? I only use mine at the petrol self service, but that is up to £99 so I suppose I won't even need it for that?

I thought that we could do all this because we'd left the EU

We can do it because we’ve left the EU but PSD2 as a whole still applies.

@Daisyhoney

I always thought you needed to put your PIN in after 5 transactions so I've always made sure to keep a check on how many I've done in a row and then used the pinpad on number 6 . I didn't know there was a total limit of £130 until recently but I'm a bit confused because I've just checked the last 5 I did and they total £178 . Maybe each bank does things differently - I'm with Lloyds - if anyone else has noticed this I would love to know.

It should be £130 but depends on the issuers chip settings.

It doesn’t worry me because the bank would refund it if the worst happened surely?

Thanks Sexnotgender 😊

I thought the upper limit was for transactions in a single day? I've only ever been asked over £30 before it went up, or at the petrol pump.

I read that contactless has been linked with higher rates of debt as people don't associate the beep with spending money like they do chip and pin. £100 is asking for trouble if this is the case

@triceratops12

I read that contactless has been linked with higher rates of debt as people don't associate the beep with spending money like they do chip and pin. £100 is asking for trouble if this is the case

Oh, I wondered why it was considered a boost to spending.

Great news, I love contactless, I am naturally lazy & forgetful, so good news for me, I can’t be bothered to enter my pin in the grubby keypad, that everyone has touched.

@LunaHeather
Yes got my new card a few months ago, I had previously called them (Lloyd's) to say I didn't want a contactless card. Very straightforward although I've heard some banks won't do this (not sure though.)
I still prefer cash tbh but looks though we're moving towards a cashless society.

Although it could be a pain to do, my banks app allows me to freeze my card so it can't be used, so could just do this after each use and unfreeze before using. Alternatively, keep less cash in current account and transfer what you need, when you need it?

That'll be a comfort if someone can't top up a leccy meter after their card gets nicked

What? They wouldn't be able to top up their meter if the card was stolen anyway, contactless or no contactless.

I have never been asked though admittedly don't sue my contactless card often.

I do use Apple Pay a lot though and in many places that has no limit. We have spent over £1000 on a transaction via contactless Apple Pay before. Never an issue.

@chomalungma

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.

Is not difficult keeping a track of your card or your spending either! My bank app notifies me every time there's a transaction. In real time. So do all my credit cards. If I didn't just now spend something, I think I'd know. And the second my card got cloned, my bank knew and stopped the attempted fraud in its tracks - phoning me to check where I was before they released my card.

I love contactless and I like the £45 limit. £100 feels like too much to me.

I've previously had fraud on my card and the bank were so quick to refund me, like the same day. With a £100 limit my account could be empty before I notice. I don't have high balances.

Not to be nasty but I think this this is fine as contactless payment is a young millennial/gen z thing. We have adopted this as our primary method of payment, mainly used on our devices which adds another layer of security. Therefore fraud isn’t a large consideration as the majority of contactless users have Touch ID/Face ID, even my Apple Watch requires my passcode to be used. My card stays at home.

Therefore fraud isn’t a large consideration as the majority of contactless users have Touch ID/Face ID, Do you have a link or source for this? I'm in my thirties but the majority of people I know still use their card, contactless when under the limit. My grandmother uses contactless.

If the chip is damaged you have to enter a pin each time.