The limit for contactless card payments will increase from £45 to £100 on October 15, but some banks will allow customers to set their own limits.
Halifax, Lloyds Bank, Bank of Scotland and Starling Bank will allow this.
For Halifax, Lloyds Bank and Bank of Scotland the limit can be set between £35 and £95.
A bigger margin is included for Starling Bank, where it can be set anywhere between £10 and £90.
Customers of those banks will be able to change their contactless limit in their banking app, or switch if on or off entirely.
Currently, under the £45 limit on contactless card transactions, card issuers restrict cumulative payments that can be made before a Pin is requested at £130.
Today's Twitter Poll: The contactless card limit increases from £45 to £100 on 15 Oct. Some banks will allow you to set your own limit though (link to info in my reply to this poll).
— Martin Lewis (@MartinSLewis) September 29, 2021
If yours were to allow it which is closest to the limit you'd set.
However, from October 15 the £100-per-transaction limit will see card issuers raise the cumulative payment cap to £300.
This has raised concerns that the jump could put consumers at an increased risk of fraud if the card is stolen.
According to TheMoneySavingExpert most banks will allow their customers the option to turn off the option of contactless either via their banking app, on their bank’s website or through phoning their bank.
Services like HSBC, American Express, CapitalOne and MBNA currently don’t offer the option to turn contactless off.
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