Most of us have one or the other contactless card – and big changes are pending for the agreed spending limits tomorrow.
The contactless card payment limit has more than doubled which means payments up to £ 100 can be made as of Friday 15th October.
The current limit is £ 45 and any charges above that will still require a PIN to be entered.
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Chancellor Rishi Sunak confirmed the change in the March budget.
He then said it would “make it easier than ever for people to pay for their purchases”.
However, the move has raised concerns that thieves without a PIN may be able to spend more, and has spurred some banks into action that have allowed customers to set limits on contactless spending.
What banks do
Lloyds Banking Group, which operates Lloyds, Halifax and the Bank of Scotland, has a new feature that allows users to set their own contactless limit between £ 35 and £ 95 or to turn off contactless payments.
With Starling Bank, users can set their own limit in increments of £ 10 or disable the contactless feature.
However, customers of banks such as Barclays, Nationwide, Natwest, RBS, Santander and TSB cannot set their own limit. If you are concerned, you can turn off your contactless payment entirely.