I’ve looked through the EBA as much as I can bear, I can’t find any specific rule to say that resetting limit through an app is a solid no.
Have Monzo put this forward to get a definitive answer? Or assuming it’s probably a no and Revolut are being naughty.
If it’s a yes thats fine, and they classify the customer pushing the button as acknowledgment I’ve got the physical card in my possession thats a game changer. If they pushed the button without actually checking their wallet then its on them, either way the same contactless fraud we’ve always had kicks in if being used fraudulently.
Monzo could implement that and be heros.
I’m still intrigued to know if Monzo will be / was the only bank to do £100 limit (and reserve £30 for offline) whilst all other banks chose £135/£130. Only time will tell, we may need to wait a couple years before we know that. Hopefully Monzo will go 
we were a bit too conservative and the FCA clearly doesn’t care about offline and change it.
Or Monzo could look at biometric cards which remove the limit check and raise the single transaction limit from £30 to £100 like NatWests trial 
Might cost a bit to start with, but you could gain millions of customers if you win the race.
