Limit Spending for Limited Time

[alexs (Alex Sherwood)]

Welcome to the community

There has been some discussion about this idea here

Limit Spending for Limited Time

Backstory of the problem: I was on a night out last weekend and my friends were saying how they daren’t bring their contactless cards with them because they can spend recklessly when they’re tipsy Not good for me, because I hate cash. Proposed solution: I was thinking it’d be useful if, while sober, you can set a limit for what you can spend for that night. So in effect, I’d say ‘after £20 has been spent, freeze my card until 8am’. Perhaps there could be some contingency (emergency pi…

but it could cause issues

@Jackc

its a nice idea but in reality not sure it would work.

the process when out of buying a drink starts with the barman/maid making the drink and then asking for payment. if the mondo card was ‘half frozen’ it would mean you would have to pay for it one way or another.

Once savings pots are available though, I expect you’d be able to set aside a certain amount of money for that night out / your family to spend which would make it easy to keep track of whether you’ve hit your limit or not. It’s a bit of a compromise but do you think that would that work for you?

According to the roadmap the savings pots are due in the next 6-9 months (after the launch of the bank & current accounts).