MSE Poll: Should the contactless spending limit be increased? 23 February at 9:54AM in Money Saving Polls 14 replies 536 views

MSE_Petar

Poll started 23 February 2021

The financial regulator's consulting on plans to raise the maximum amount you can spend using contactless from £45 to £100 – there's a cap to limit spending if someone takes your card. But where do you think the limit should be set?

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Penguin_

I pay via my iWatch so I don't know how high the limit is but I know it's in excess of £95.

ReecesWaffle

Of course the limit should be increased. It just so much more convenient

Emmia

Penguin_ said:

I pay via my iWatch so I don't know how high the limit is but I know it's in excess of £95.

Paying on your watch or phone via apple pay etc. has a higher limit than using a card for the transaction.

Afourteen

I'd say there ought to be minimum payment of somewhere around £5 to keep cash in circulation.

NotGivingIn

Most banks now let you set your own limit for ATM withdrawals, they should do the same with contactless limits. It isn't up to a faceless corporation to decide how much individuals want to hold control of their own funds. I won't use contactless until they recognise it is my money not theirs

Christo61

If it is increased to £100 or more. For safety sakes the credit card machine should be programmed to ask for one of your four PIN numbers. It’s not rocket science.. and will make the transaction a lot more secure.

Adenann

I wouldn't mind what the limit was increased to, so long as I could choose a personal limit up to that maximum.
That way, more cautious risk averse folk like me would be happy and the more adventurous would be catered for as well.

Kassiopea

How about letting us set our own limit? 
If stolen the card can be used multiple times  on the limit...so if it were one hundred, imagine how much you'd lose?  To some, losing a tenner would be catastrophic, to others not so - just annoying. That's without the online use.

pollypenny

In the first lockout I found I'd used contactless so often that forgot my pin!  What an idiot!  

Super_Stomper

I have used contactless more often than usual due to the pandemic but mostly for smaller value items under £30. For anything greater I still prefer to use my PIN with the card. It's probably my age - I'm over 70 - but I still worry that my card could be scanned remotely and cloned and losing £100 in lots of shops along the high street would be a problem for me - even if I could eventually reclaim it back.