I was wondering what people thought to being able to set daily limits on contactless payments. I’ve known people to go out for a night out and lose track on their spending only to find out they had spent way too much.
This couldn’t happen if you was able to set a max daily contactless limit.
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I can see why it could be nice to have, but Chip and Pin would still work.
If it’s something you are affected by, you could always move all of your money (except what you want to spend) into a pot.
I couldn’t agree more. Personally, I’d be happy to have a really low daily limit, no more than 20 quid. People can and do get carried away with contactless payments. I’m actually very disciplined when it comes to contactless, but being able to have a facility to actually limit the amount of contactless transactions on a daily basis would be a really useful feature.
You can limit the amount you can spend on card payments but not specifically contactless afaik
Having the ability to actually set the amount of daily contactless transactions though would be really useful, especially when the contactless transaction limit is 30 quid a time. I’d knock mine down to no more than 4 or 5 contactless transactions a day. Any more, I’d have to resort to chip and pin and I’d be more than happy to do that, though of course I can already do that if I want to. A contactless transaction limit set by me would just take away the temptation to happily tap away with the card on multiple purchases.