An FYI and observation.
Something that caught me by surprise while travelling is that if a merchant has an older card reader they can do chip only verification (like contactless but they have to insert the card) this sounds great until (confirmed with support) you find out there is no limit on the transaction amount here. This is a bit worrying given that until the notification appears then you can’t confirm the amount being charged and by the time the notification appears (in abroad next time you have WiFi) it might be too late.
This is different to chip and signature.
You could say this is uncommon however in my case this was a large chain restaurant in Philippines (think wagama size/locations)
I was wondering if Monzo had any plans to cap or prevent this type of transaction?
What is the Monzo policy on over charge/unauthorized transactions in this scenario?