Contactless limit being up

[mumda]

I don't like the contactless limit increasing. I'm not sure I like tap and pay as it feels like it encourages spending without thinking.

Apologies for subject as can't edit to say going instead of being

The govt has described it as giving customers flexibility. Surely the flexibility would be to allow the limit to be set by the card holder?

Do any banks do that or am I just on my own in thinking it's a bad thing?

It's under your control. Most banking website/apps allow you to set your own limit (and even whether to allow contactless at all). If not, a quick call to your bank should do it. So YABVU.

I agree. This "nannying" is getting out of hand. People need to start looking after themselves rather than expecting everything to be handed to them on a plate and all information spoon fed to them, and for everyone else to protect them from everything. How about people start taking responsibility for themselves?? Or is that too much to ask?

(Excepting those with genuine disabilities who can't look after themselves, of course)

From the FCA website...
"The FCA is looking at whether removing or increasing the contactless limit could benefit consumers, merchants and economic growth in the UK."

ECONOMIC GROWTH IN THE UK is the key phrase. The government want people to spend more money, they have tasked the FCA with reviewing the contactless limit with that in mind.

As a PP says though, there is far more nannying at the online bank, I have constant messages about fraud when I am just trying to transfer money between internal accounts and people have even been stopped buying something if the bank doesn't think it's right. I had to ring them and be questioned about a transfer to DS.

I had to write a large cheque to myself, to pay into a different account of mine with the same bank (showing on the same banking app) - for the audit trail - and that payment was just blocked by the bank without any warning or explanation.

Remove the contactless limit entirely?!

Are there really many people out there who are desperately wanting a system whereby anybody who manages to get their hands on their bank card can easily empty out their entire account in seconds?

Retailers can actually set limits even on apple and google pay.

Also, with Apple or Google Pay, you use it on a secure device that you use a PIN or biometrics to open up - as well as one that most people would know very quickly if they dropped/lost it.

By contrast, a thief/finder holding a plastic bank card can steal from it as soon as they can find any shop with a payment terminal in it.

Yep, was on the BBC news this morning too. Loads of ,"wouldn't it be wonderful to not have to remember a pin number"

Invest in RF blocking wallets, a growth business.

But they ask for your PIN number sometimes anyway regardless of the limit so you would still need to remember it

I use a credit card anyway so it would be less hassle if it got stolen but if it was a debit card and your account was emptied it might be difficult to pay your bills

Surely you wouldn't keep large amounts of money in your current account in the first place and not have a large overdraft that you didn't need?

I regularly transfer funds between my current account and my savings account, so would rarely have more than a hundred quid in the current account anyway. I transfer funds in ahead of direct debits/standing orders coming out, and as soon as my wages are paid in, I transfer most of it out to the savings account. But I seldom use the main current account for debit card spending anyway.

I have a separate "spending money" current account with a different bank that I use for day to day debit card spending transactions, i.e. convenience shops, takeaways, petrol, etc. I just "top it up" whenever it gets low by transferring say £50 from the main current account to the spending money account. When it gets below a tenner, I do another transfer via the app on the phone, likewise if I know I'm going to fill the car with petrol instead of say a tenner, I'll do a bigger transfer to cover it. That way, if the "spending money" card gets stolen, lost, cloned, etc., my losses are very limited (but I'd expect it covered by the bank anyway as I'd know quickly and could report it's use almost immediately as I get pinged notifications whenever it's used).

Having two debit card accounts with different banks also helps if there's a problem, i.e. a particular bank system is down - I just use the other card and do a transfer for funds on the app - all immediate.

Removing the limit entirely seems stupid. I can only imagine the government's thinking is that it's a good way to ease the shoplifting epidemic, thieves won't need to shoplift anymore because as long as they can pickpocket a bank card they'll be able to pay for the goods and not get chased by security. Then the govt can claim shoplifting has fallen on their watch.

Believe it or not some people just have one current account which their wages go in and it is slowly drained each month by bills, they don't move money around, it goes in once a month and that's it. I have two bank accounts and umpteen credit cards, and shift money about a lot, mainly to get additional benefits, probably like yourself but not everyone has that privilege.

You don’t need to do all three things at once though.

First double click the button.

Then hold your phone up for the Face ID.

Lastly tap it on the reader.

You can do the first two bits in advance so you’re ready to tap when the payment terminal asks you to.

Ok thanks for that. I'll try again.

However, the one I tried it in the most was the one in Waitrose and it beeps and carries on if you're basically not doing it all at once??

I will try again though and pay more attention this time!!

Thanks again

You don’t have to hold your phone to the payment machine and double tap when it’s there, you can double tap, unlock with your face then move your phone over to the machine to pay.

Yes, I'm gonna give it another go but as I said in an earlier post the one that our local Waitrose beeps at you and highlights what it wants you to do in a very annoying way seemingly wanting you to do everything at once and none of the staff have ever said you don't need to?? But I will give it another go next time I need to go there 😊