finance

Lloyds, Halifax and Bank of Scotland customers can set own contactless limit as it rises to £100


CUSTOMERS who bank with Lloyds, Halifax and Bank of Scotland will be able to set their own contactless limits.

You can use “tap and go” for purchases of up to £45 using a card from any bank – and that is soon set to rise to £100.

Paying via contactless has beocme more common because of the pandemic

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Paying via contactless has beocme more common because of the pandemicCredit: Getty

But Lloyds Banking Group, which runs Lloyds, Halifax and Bank of Scotland is giving shoppers the power to set their own.

Customers of the three banks will be able to set the personal limit for their card between £35 and £95, choosing increments of £5.

They can even turn contactless off completely and will be asked to pay using chip and pin instead at tills and checkouts.

The new function will also be rolled out to MBNA credit card holders in future, which is also owned by Lloyds.

Contactless is just as safe as chip and pin and offers customers the same fraud protections.

Philip Robinson, payments an fraud director at Lloyds, said: “When the contactless limit increases, our customers will be able to use new tools in our mobile app to set their own transaction limit and also switch contactless on and off. 

“We’ve listened to customer feedback to introduce this option which will allow them to make the most of the £100 limit in a way that works for them.”

Customers of all the banks will be able to set their limit for contactless payments through their banking app.

They will also be able to set it up over the phone or at a branch, but will need to have internet banking set up to do this.

The contactless limit will rise to £100 from October 15.

Plans to increase the current £45 limit were first revealed in February by the city watchdog – the Financial Conduct Authority (FCA) – and the go ahead was given for the rise in August.

The contactless limit was increased from £30 to £45 at the start of last year as the coronavirus pandemic began to spread across the UK.

Contactless payment transactions have boomed in the pandemic, prompting the increase in the amount you can spend by tapping your card.

Apple Pay and Google Pay allow users to make contactless payments over the current £45 limit. 

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