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MSE News: Banks and payment firms can now scrap the £100 contactless limit – here's what's happening
Comments
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I don't think there is a limit at all, I used Google pay to pay £2500 in a bed shop.
The difference with a phone is thst you have to unlock it to use it but a card could be used by anyone. I don't see a problem personally, I'd have thought that most people would pay by phone these days and any decent bank will let you set the contactless limit, if they don't it's easy to change to a bank that does.
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There isn't a limit per se but depends on bank and so on. I have never been able to pay for major service/repair work for the car (had a couple that were I think over £1000 - not too bad for a 11+ year old car!) and Lloyds would decline them (well under my card limit) but was able to pay with chip and pin. One of the service team at the garage I used to go to managed to buy a car via Apple Pay
Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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Hence why it's probably safer to just use your phone, provided it's locked and/or needs biometric activation to pay if your phone has been unlocked for a while then there is no real worry vs the card payment. If you are threatened by a robber, throw the phone at them or into bushes and run rather than unlocking
Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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Way off topic but I'd challenge your advice about dealing with potential robbery.
Maybe a new thread under Hobbies & Leisure - "how to get yourself stabbed" would be appropriate?
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No common thief who just wants a phone to sell or steal some cash is going to risk stabbing people and going from "crime the police ignore and just give you a reference number for insurance" to "serious crime that will end up with jail time"
Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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A contactless card and Apple/Google Pay are different animals.
To use Apple/Google Pay, you need to be able to access the device - biometrics, password etc.
With a contactless card, a ne'r-do-well could find one dropped in the street and spend (up to the contactless limit) to their heart's content.
People's concerns, it seems to me, are that upping the contactless limit could potentially expose them to fraudulent transactions of a higher value than is currently possible.
These concerns are unfounded IMO, as I suspect that banks - if/when they implement any changes - would simply leave the default at the current figure, but give individual customers the option of increasing it should they wish to do so.
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How fortunate you are to live where there are only rational, thinking, "common" thieves, try this argument when an addict looking to finance their next fix is waving a chib in your face.
Good deal of phone theft is of the snatch and run (or bike) variety where the idea is to take the phone when it's unlocked.
Hopefully your security setup would still mean contactless doesn't work?
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A perceived risk of having your current account cleaned out more effectively by a thief due to the increased contactless limit could be offset by only carrying cards linked to current accounts with not much in them, and/or using credit cards (where possible).
The risk would primarily exist for those who use one current account (or maybe a couple) and have a habit of leaving larger amounts of money in the account (probably earning no interest). But then insist on carrying around an easy means of access to the money wherever they go. Or for those with multiple current accounts, opting to keep all their payment cards with them at all times.
A wallet (or phone) stuffed with all your payment cards is the 21st century equivalent of the 20th century's walking round with £1000 of paper money in your wallet or purse: sensible people didn't do it.
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It's not an argument, it's a safety process to distract them and render the phone useless to them but allows you to get away. Contactless limits will be irrelevant to a phone thief with a locked device. Addict or not, stealing a phone for a fix is one thing, going to jail is a lot different.
As I said on phone security, when my phone has been active a while unlocked, it forces you to authorise payment. There is a secondary security function in Android that autolocks the phone if it detects the phone is snatched e.g. changing from holding and walking to sudden acceleration again preventing the phone being used to pay
Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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Your "safety process" is based on the robber being logical and rational. Druggie street robbers are neither of these things.
I don't think your analysis of robbers' behaviour, or your advice on dealing with robbers, are any good.
I think @Section62 's view that "a wallet (or phone) stuffed with all your payment cards is the 21st century equivalent of the 20th century's walking round with £1000 of paper money in your wallet or purse: sensible people didn't do it" is spot on.
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