What is contactless limit on revolut cards?
I know different countries have different limits imposed (my country uses 25euro), but there must be some limit on card itself.
How much is max contactless payment possible when using revolut card (assuming country where you use it, allows it)?
I believe this depends on the terminal configuration. Also, I vaguely remember that with PSD2, the transaction limit for PIN-less transactions was raised to 50 EUR/150 EUR in 5 consecutive individual transactions. I recently got updated T&Cs from my old school bank reflecting this.
(Besides this, cards do have a security limit that should limit the damage in case of theft of a contactless card. But these limits aren’t made public due to security reasons.)
I don’t think there is any limit but the one set in your app or your total balance, as it is like a normal transaction. Mine is deactivated because of that.
I think we should be able to set the limit ourselves for each trsnsaction. One limit for contactless payment, one for normal payment. How about this idea?
Same question still. What is limit ?
In these uncertain times banks in my country temporarily (during an state emergency) raised limit for contactless payments to 50eur (from 25eur). Does that include cards issued somewhere else, I dont know.
This is super complex. To make this happen, the bank (issuer) needs to update the IT, but also merchants need to update their POS terminal software. That’s not something that happens over night, and not at all places at the same time. And the setting of a POS terminal can always overrule the card configuration. Visa had already 50 in some countries before this.
But this does not have to be a problem for the user: use Apple Pay / Google Pay when possible to avoid the limit. With contactless cards, just keep tapping. It will be either PIN free or not, and if it’s with PIN, that’s the only option anyway.
Max limit as far as I know is set by the banking industry. In the UK it was £30 but recently been informed it’s increased to £45 as a coronavirus avoidance measure.
Here’s more background info about this.
https://www.ukfinance.org.uk/press/press-releases/contactless-limit-uk-be-increased-45
The FCA are reviewing the requirement to input a PIN in after 5 tries too; I think they may ditch the rule
Thank you for posting this, it is an informative article.