Contactless card spending limit to rise to £100 – but some banks wont allow it

Contactless card spending limit to rise to £100 – but some banks wont allow it

At the start of the coronavirus pandemic, the contactless card spending limit was increased from £30 to £45.

But now with less Brits carrying cash these days, it's set to rise yet again with it going up to £100 for shoppers.

It is believed the rise was considered due to the increasing use of contactless payments, reports The Sun.

Banking trade body UK finance confirmed in August that the limit would increase from £45 to £100 from October 15.

However, it could take "some time" for the new £100 to be rolled out across retailers in the UK.

Many shoppers might not feel comfortable with the new limit and fortunately they can opt out if they don't.

There are concerns around the risk of theft or that it could be harder to budget with the higher contactless card limit.

Some banks are giving the option for cardholders to set their own cap or turn it off completely to just use chip and pin.

However, bank policies might vary so it's best to ask your building society for further details.

Banks like Lloyds, Halifax and Bank of Scotland is giving shoppers the power to set up their own cap.

Customers could set a personal limit between £35 and £95, and even set the cap in increments of £5.

If you want to switch off your contactless, you can do that and only use chip and pin at checkouts.

It can be changed over the phone or in a branch, but you'll need to have internet banking to do this.

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