Contactless Limit at £100

Thoughts?

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Not good.
If someone gets a hold of your card then thats £100 down the drain

That doesn’t change much then. With your Monzo card the most I can spend with contactless without having to enter your pin is £100 and I’m guessing that wouldn’t change. It just means I could do £100 in one go, rather than £33, £33 & £33 for example.

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Getting some deja vu here. Didn’t we already have a topic somewhere discussing this?

Edit: found it!

Personally I’m not a fan. Especially now solutions like Apple Pay exist, and I would like to see a shift in focus to pushing for greater acceptance of those. In particular pushing retailers to remove the artificial limits some of them place on them.

Except I get notified at the first £33, and can freeze my card ASAP, to prevent more.

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Is it right to say that Apple Pay doesn’t have a contactless limit?

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Yes, due to the more secure nature of it. It’s more secure than chip and pin.

Some retailers (Tesco) place artificial limits on it though.

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Apple Pay doesn’t have a limit in and of itself because unlike contactless, it is an authorised transaction method (unlocking your phone is the equivalent of putting in your PIN).

Some stores may set limits on Apple Pay transactions through their terminals, but this is a restriction placed by the store and not by Apple Pay.

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You can, but that’s not always logical/possible.

My phone is next to me and I have my watch on, so if I get a ping now then I’ll be able to react. But if it happens at 2am, they’ve got hours until I realise.

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You can. But it’s your bank’s money which is being spent.

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Don’t dare lose any of your bank cards or some will have a field day.

I use Google Pay and no cards, the majority of the time, so a change like this wouldn’t really affect me.

Would my kids though!

I’d be a bit concerned. Do we know if you’re anymore likely to be asked for your PIN the closer to £100 the purchase is?

I suppose the risk of me losing my card and not realising outweighs the benefit of the increased limit, it just seems too high too soon.

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Looking forward to it becoming a reality.
It will make Apple Pay easier at certain retailers that can’t handle payments above the current £45 contactless amount.
Looking at you Asda!

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On the subject of contactless limits, what are peoples thoughts on the Revolut feature of being able to reset the contactless limit from within the app instead of having to use chip and pin to reset it?

Personally, I find it great as you receive a notification when you get close to the limit and a few quick taps in the app mean that a transaction won’t get declined for something as simple as reaching the limit.

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Great but only if the banking app has a security feature.

It’s a good number of phones with a card in the back snatched while user is on the phone and they keep the screen awake to get into the phone. Throw a card with £100 contactless and the ability to bypass that security check and you’re screwed.

My understanding is that this is a retailer choice, rather than ‘can’t handle it’.

In which case, changing the general contactless limit may or may not make a difference to these retailers’ approaches.

Apple Pay payments are not contactless, they are fully authorised payments (and hence why most places accept them above the limit).

Where retailers have chosen to put a limit on Apple Pay, I wouldn’t count on the new contactless limit helping, as in my experience it’s because they want you to install their own app with payment features (waves at supermarkets) and use that if paying by your phone instead.

I think what they meant is that they could at least use Apple Pay for up to £100 even if the merchant’s terminal doesn’t have the consumer device verification method enabled, which covers a lot more payments (compared to £45).

I wonder if the UK will start seeing contactless readers at the petrol pump if the limit gets raised. Most pumps in Canada have them as the contactless limit is 250 for credit cards / 100 for debit.

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I usually don’t carry my wallet at all, because I apparently rely too much on contactless/apple pay (which has no limit)

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Exactly, I would support it as Canada doesn’t seem to have any significant problems with a higher limit (correct me if I’m wrong) and I would like to use Apple Pay at higher amounts without having to worry about it being one of the “refuse to enable CDCVM” culprits.

Also, if my phone went flat it would be nice to be able to fallback to card-based contactless and not need to enter a PIN for most transactions - the £45 limit is nearly good enough for this, but not quite as you can easily go over it with a weekly shop, etc. Whereas £100 is comfortably above almost any everyday spend (not quite covering very large shops, perhaps, but then if people are already nervous about a £100 limit I can’t imagine a £150 or £200 limit being very popular)!

Contactless at Pump seems to have been largely usurped as a concept by the U.K. jumping straight to payment via app - at least at big-name petrol stations. It would be good for supermarket petrol stations to add this capability, though.

Kinda wouldn’t phase me, I tend to use Apple Pay whether it be on my watch or phone, very rare I use my card anymore unless the merchant doesn’t take apple pay and/or I am required to use chip and pin.

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