I would like to transfer my ‘spending’ money for a month to my Mondo card when I get paid, rather than topping up as I go along. As this would mean a relatively large balance (~£1.5k) I’m trying to understand the risk of this.
I seem to remember reading somewhere that we should treat the Mondo card like cash. However in the event of it being lost or stolen, surely our maximum exposure is the same as with any debit card, i.e. the total of any <=£30 contactless transactions that are made before the counter trips to force a chip and pin transaction? Obviously with Mondo we also have the added advantage of being able to freeze the card from the app, assuming we still have access to our phone.
There are also the issues detailed in the FAQ about what would happen if Wirecard went into liquidation etc, but I don’t see that as very likely so am more concerned about the lost/stolen scenario.