agreed. This blew my mind when I first saw it in Italy
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Is there any way that Monzo (and other banks) could allow customers to chose their card contactless limit?
It feels like it should be a simple additional variable (as you already track rolling limits for every customer) but perhaps it’s not so simple.
Personally I’d probably have mine at ~£30. I definitely don’t need it to be £100
Apple Pay / Google Pay is the answer. Let’s not overcomplicate this.
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Go speak to the FCA and Government then and get them told 
I feel it’s too quick and I’m not sure there’s even that great a demand for it?
I found this unusual first time in 
but then found it not as bad as I thought it was going to be.
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I would rather choose the maximum, generally I use Apple Pay but I feel uncomfortable about my cards have a £100 limit.
My Amex card can ask for a pin but sadly not everywhere takes because of the high interchange rate.
It just means someone can do it in one instead of two transactions really. It’s currently £45 so someone could easily do £90 in seconds.
The overall limit before needing your pin is still £100 so nothing has changed really.
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Seen a few articles today after the budget quoting the limit before having to enter pin would increase to £300. As always waiting for actual evidence from FCA about that part.
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In an ideal world, you’d just set your limit to whatever you feel comfortable with. For me, that would probably be about £60. If you’re very well off, that could well be £600 or more…
This is possible basically everywhere outside of the UK, France, Ireland and Canada (I might have missed one or two countries). This is because in those 4 countries offline PIN is used, where the PIN is stored on the card and the terminal checks with the card that the PIN is correct. Other regions use online PIN (pin checked with the bank) so you can do tap and pin. Technically it would be possible with offline PIN but you’d need to tap, enter your PIN and then tap again, which would be kind of awkward.
I’m not really sure why those countries have gone that way as most cards (at least in the UK and Canada) support both online and offline PIN anyway its just the terminals in those countries that don’t support online PIN. I’m not even sure why countries like Canada ever decided to use offline PIN as all transactions are 100% processed in real time and before chip and pin, domestic debit cards used swipe and PIN (which also uses online PIN).
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I sense a lot of fraud is going to happen now
People will more likely steal a bank card knowing they can freely spend £100 at once on high tier items which can be resold then throw it away and steal another
I heard on some articles the limit is going up aswell and someone on here said 300 so if thats true then I kinda think it’s a bad idea
They should give you the option to remove contactless like all high street banks do
If this was Oceans 14, maybe. But not so much in real life.
If someone finds/steals/gets my card, they don’t know what my current spend-before-pin availability is. I don’t even know! (I just checked, £79.55)
In your scenario, Danny Ocean tries to spend £99.99 on high tier item. Please enter pin. Oh. I’ll try this £90 high tier item. Nope. £80. Close. But still no. By now, the shop assistant is probably suspicious and I’d like to think this then locks the card/requires the pin/something else.
More likely is someone will spend £20 to test the water and then try another and another and another.
If they change the overall limit from £100 to £250 again, then that’s a different story. And this isn’t your money they’d be spending anyway, you’ll never be out of pocket (Unless you were negligent, which they’d struggle to prove without you giving yourself up), just the hassle of claiming it back.
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In one way I’m glad because it was a pain hitting the limit. But Monzo said fraud increased a lot when it was £250.
This will be fun!
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I would like the ability to turn off contactless payments (via the physical card, not Apple Pay) on my account.
On a day to day basis, I don’t take my physical card out and about with me, only my phone (Apple Pay), but if I am going to be away overnight anywhere or longer, I take my cards with me as backup. I don’t need contactless enabled on them for this purpose.
I know that if they were stolen and fraud was to happen that I’d be refunded, but I am the kind of person that worries about it anyway, always thinking of “what if this” and “what if that”.
I’d like more granular card controls, and would turn off both contactless and online transactions for the physical card, leaving only in-person transactions with PIN turned on. For online transactions I always either use a credit card or sometimes a virtual card with Monzo.
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I know it’s not quite the same, but you can drill a little hole in the corner of your card if you want and this disables contactless. I think someone has posted about it on here before. Basically it breaks the circuit of the contactless antenna, effectively making your card contact-only.
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There no reason Monzo doesn’t do lots of things. But there are still lots of things Monzo doesn’t do.
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