Chip and pin declined after £100; too low with coronavirus

[danbeddows (Dan)]

@lpoolrob

Yes, there is an EU regulation, but Monzo decided to set it lower than the requirement, so yes, they could raise it a little if they wanted.

EDIT - and, of course, using Apple Pay etc will help.

If they did that, they’d have to stop supporting offline payments. Which would require card profile changes if I’m not mistaken

@amelia

The limit in legislation is 150 EUR

Monzo have a £100 limit because our cards also support a small amount of offline usage, and this is to prevent you from going over the limit while offline (which we would be unable to see until the next day). We felt it was a much better trade-off to continue to support this case, and make sure you can’t exceed your contactless limit at the same time.

Keep in mind that mobile wallets (Apple and Google Pay) are authenticated already, so they don’t need to use this entire mechanism either