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Contactless cards

edited 30 November -1 at 1:00AM in Budgeting & Bank Accounts
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harttss3harttss3 Forumite
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edited 30 November -1 at 1:00AM in Budgeting & Bank Accounts
I think it would be a great idea if banks would allow you to set an alarm cap on spending via contactless, say perhaps 3 contactless transactions in one hour trigger a need to enter a pin. This would be particularly useful if you lost or had your card stolen and didn't immediately know. £30 transactions can soon empty your account. My bank, Nationwide, have told me this is not something they would consider.:(
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  • Robin9Robin9 Forumite
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    Lots and lots of threads on here re contactless. Use of contactless needs discipline just like the use of cash and cheques and control of bank accounts knowing when standing orders and DD's are due.

    If you don't trust yourself with contactless - cut the card up.
    Never pay on an estimated bill
  • ZandermanZanderman Forumite
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    harttss3 wrote: »
    I think it would be a great idea if banks would allow you to set an alarm cap on spending via contactless, say perhaps 3 contactless transactions in one hour trigger a need to enter a pin. This would be particularly useful if you lost or had your card stolen and didn't immediately know. £30 transactions can soon empty your account. My bank, Nationwide, have told me this is not something they would consider.:(

    There's already a 3 transaction limit every 24 hours isn't there? So 3 in one hour would force a stop anyway.
  • 20SmthngSver20SmthngSver Forumite
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    Robin9 wrote: »
    Lots and lots of threads on here re contactless. Use of contactless needs discipline just like the use of cash and cheques and control of bank accounts knowing when standing orders and DD's are due.

    If you don't trust yourself with contactless - cut the card up.

    If you don't want to use Contactless or don't trust it, you can opt out. Just go in branch, send a secure message, or call up, and ask for them to remove it and send a new one without it. Some will try and ask why and convince you it's secure, but they can't refuse. Here is a list of those to do allow it (most do).

    https://www.which.co.uk/money/banking/banking-security-and-new-ways-to-pay/new-ways-to-pay/contactless-cards-ah1q15s797hb
  • StompaStompa Forumite
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    Zanderman wrote: »
    There's already a 3 transaction limit every 24 hours isn't there?
    Well I've certainly done 10 or more transactions within a few hours without being asked for my PIN.
    Stompa
  • 20SmthngSver20SmthngSver Forumite
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    Zanderman wrote: »
    There's already a 3 transaction limit every 24 hours isn't there? So 3 in one hour would force a stop anyway.

    No, not necessarily.

    Read this article about how some banks can let you make as many as 10 Contactless transactions without PIN in a few hours.

    https://www.which.co.uk/money/banking/banking-security-and-new-ways-to-pay/new-ways-to-pay/contactless-cards-ah1q15s797hb
  • ZandermanZanderman Forumite
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    No, not necessarily.

    Read this article about how some banks can let you make as many as 10 Contactless transactions without PIN in a few hours.

    Ok, I stand corrected, though I'm unsure, from that article, what bank policy is. The article says:
    In 2016, we asked volunteers to use their tap-and-pay cards on the high street, spending between £20 and £30 each time, and to keep shopping until they were asked for a Pin, to see how much a thief could spend unchecked.

    While most banks asked for a Pin, or blocked the card, after three to five transactions, three debit card providers - Barclays, the Co-operative Bank and TSB - allowed our 'thieves' to spend more than £200 through 10 consecutive transactions in just three hours. A real thief might well have continued.

    Which doesn't actually say what the official line of the banks is, just says some allowed more transactions than expected.
  • TakmonTakmon Forumite
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    harttss3 wrote: »
    I think it would be a great idea if banks would allow you to set an alarm cap on spending via contactless, say perhaps 3 contactless transactions in one hour trigger a need to enter a pin. This would be particularly useful if you lost or had your card stolen and didn't immediately know. £30 transactions can soon empty your account. My bank, Nationwide, have told me this is not something they would consider.:(

    Well if you don't have your card lost or stolen then you won't have any issues. Plus if they do spend loads of money you will get it back from the bank due the contactless guarantee so you won't lose any money so i don't see the issue really.
  • 18cc18cc Forumite
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    The article says that by September 2019 all banks how to implement entering pin after five contactless payments - at least that's the way I read it
  • 20SmthngSver20SmthngSver Forumite
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    It says which ones did routinely asked for PIN, but also those who don't i.e. Barclays. It varies from bank to bank and they seem reluctant to tell you as they don't want people knowing in case it prompted a scammer to make more transactions.
  • 20SmthngSver20SmthngSver Forumite
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    Takmon wrote: »
    Well if you don't have your card lost or stolen then you won't have any issues. Plus if they do spend loads of money you will get it back from the bank due the contactless guarantee so you won't lose any money so i don't see the issue really.

    I think the issue being made is more the point of inconvenience which I completely understand. If you lose your card or it's stolen, it can be used by anyone to make some transactions which you will then have to prove wasn't you (if they are made before cancelling then banks are unlikely to refund it) and then try and get it back and be wihtout that money which that person may need or have low funds. At least without Contacltess, it cannot be used in shops and you've got time to call up and stop the card from being used online hopefully.
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