Contactless limit to rise to £100.

masonic

I have no problem with a £100 limit. However, it would be good if people had an option to set their own lower limit just as they can temporarily freeze cards from many issuers.

Eco_Miser

colsten said:

I have no need for cash

None at all? I've used cash three times in the last fortnight, where card was not an option.
Just a few pounds, card charges would probably have been disproportionate.

Brie

Lots of businesses - particularly small local ones - are returning to cash now that things are a bit safer. In fact a couple that I have used throughout the pandemic have never had the option of using cards at all.  The bit that they would lose is too big a cut into their profits and viability.

born_again

Brie said:

I would hope that the banks insist on more frequent pin use with a higher limit.  That will limit their losses due to fraudulent use without massively inconveniencing anyone.  

And of course there is the second side of it - the stores need to have this enabled as well.  

You will be surprised how many people complain that their card has stopped working, simply on the basis that a contactless transaction was declined. They still argue the point that having to enter their pin to clear the limit is too much like hard work...

Limits before PIN required will be much tighter for a while. To see how it goes. But it is not banks that set it. That is down to card issuers.

colsten

Eco_Miser said:

colsten said:

I have no need for cash

None at all? I've used cash three times in the last fortnight, where card was not an option.
Just a few pounds, card charges would probably have been disproportionate.

None at all. I have had one five pound note and some lose change in my purse for literally years. As I now hardly ever take my purse out of the house (all payment and loyalty cards on the phone/watch), that cash is “safe”. You can pay contactless everywhere I go - in fact, you are sort of expected now to pay contactless. Even the air station for filling up my tyres is now on contactless payments, as are parking meters and just about any shops I can think if. Even the market traders on the - now resumed - weekly market want contactless.

I have a pound coin in the car, just in case I need it for a shopping trolley.

I also still have some Euros and US dollars in my travelling purse. For obvious reasons, I didn’t need them for the last 18 months, and won’t use them for many more months.

Zanderman

colsten said:

Eco_Miser said:

colsten said:

I have no need for cash

None at all? I've used cash three times in the last fortnight, where card was not an option.
Just a few pounds, card charges would probably have been disproportionate.

None at all. I have had one five pound note and some lose change in my purse for literally years. As I now hardly ever take my purse out of the house (all payment and loyalty cards on the phone/watch), that cash is “safe”. You can pay contactless everywhere I go - in fact, you are sort of expected now to pay contactless. Even the air station for filling up my tyres is now on contactless payments, as are parking meters and just about any shops I can think if. Even the market traders on the - now resumed - weekly market want contactless.

I have a pound coin in the car, just in case I need it for a shopping trolley.

I also still have some Euros and US dollars in my travelling purse. For obvious reasons, I didn’t need them for the last 18 months, and won’t use them for many more months.

Agree cash transactions are rarer these days but, for many things, they are still needed.  

For me, these days, it's mainly private transactions - I've used cash about 10 times in the last couple of months buying (and a bit of selling) collection-only stuff on facebook, ebay and gumtree.  Sure, the seller and I could have done online transactions or used money transfer apps, but, to be honest, if the cost is, say, a tenner it's much easier to give a tenner.  Quick, straightforward, easy.  No faffing with phones.  Job done. Money in the hand, the real thing. 

And, even during the restrictions, there were a few shops I use that actually preferred cash.

And, for some of my business work, particularly talks, I still sometimes get paid in cash, often straight from the takings at the door (where cash is still king - e.g. £2 for members, £3 for non-members etc - for small clubs and societies it's still mostly done with cash).

I say all this as someone who actively uses online payments the time and a phone-linked card-reader for business transactions.  So I'm not a luddite by any means.  But I still see cash used regularly.  And expect to for a long time yet.

Other people's mileage may differ, obviously!

Sea_Shell

Our local chippy still only ever takes cash!!

At the same time I've been taking cash for small Facebook sales....to fund my chip habit!!

When I run out of things to sell, my scales will appreciate it!!

Shakin_Steve

I was in a town centre market last week. No cash=no shopping.

sheramber

Window cleaner, fish van and local baker all want cash.

[Deleted User]

Brie said:

Lots of businesses - particularly small local ones - are returning to cash now that things are a bit safer. In fact a couple that I have used throughout the pandemic have never had the option of using cards at all.  The bit that they would lose is too big a cut into their profits and viability.

And I indeed hope so, cash is king.