Spend limit adjustment


#1

I want to reduce the amount that I am allowed to spend in ine single transaction to about GBP20.
Should my card be stolen I will only lose a small amount of money until it is frozen.
Does anyone know how I can adjust my spend limit?


(James Murray-Ferris) #2

I’m not sure this is necessary as you would be covered by Monzo (or Wireshark) atm for the card theft as long as you could prove any transactions were not you.


(Jake Hill) #3

Hey @misterlee,

As :monzo: has a full banking license, they would cover you for any unauthorised purchases on your account. You can also freeze your card inside the app if you don’t want purchases to go through, then purchases will automatically decline at the terminals or ATM’s so no money would go out of your account :raised_hands:


(Matt) #4

As said above this can be avoided by Freezing your card in the app if you are worried someone might steal your card,

However the features you suggested are something I’d really like to see monzo introduce for the current accounts. Also possibly

Max mag-stripe transaction, max contactless transaction, max chip+pin transaction, max online transaction