Contactless limit increases to £100

There is no doubt that we are all getting more used to using contactless payments. While coronavirus certainly increased demand as we were encouraged to reduce contact when paying (during 2020 contactless payments increased by 12 per cent to 9.6 billion payments), it was merely accelerating a growing trend. 

In the last four years contactless payments have jumped from being just seven per cent of all UK payments to 27 percent. Contactless payments are becoming increasingly ubiquitous: it is estimated that there are 135 million contactless cards in circulation, used by 83 per cent of us to pay for goods and services, with no age group or region falling below 75 per cent. 

With the change in consumer behaviour, it is perhaps no surprise that the upper limit on the value of an individual contactless payment was increased from £30 to £45 in April 2020 – a very popular move with shoppers. The Treasury and Financial Conduct Authority (FCA) has now made the decision to increase the limit further to £100.

Protection is in place as after a number of payments, you will have to use your PIN. You will also be requested to enter your PIN if you spend a total of £300 across multiple contactless purchases. This means that it is possible to lose up to £300 and so it is very important to protect your contactless card and the easiest way to do this is to treat it as if it was cash: 

• Check your account regularly. You can do this via our Digital Banking app. Inform us immediately if you notice any suspicious transactions. We can then block the card. 
• Ask for receipts: This way you can ensure you’re not being overcharged.
• Safety First: Never keep your contactless card where it could be easily spotted – such as your pocket, on a table in a public venue, or an open bag. If you do discover it is missing, inform us immediately and we will block it.
• Handing over your card is not safe. If paying for goods or services, always ask for the payment terminal to be bought to you. You should be the only one that ever taps your card.

If you think you've fallen victim to a scam, if someone has taken money from your account or if you've accidentally given your details to a fraudster, in addition to telling us (by phone or webfraud@alrayanbank.co.uk), please report it to Action Fraud by calling 0300 123 2040. 

Contactless Timeline

• 2007: contactless launched in the UK with a limit of £10
• 2010: Limit increased to £15
• 2012: Limit increased to £20
• 2015: Limit increased to £30
• 2020: Limit increased to £45
• 2021: Limit increased to £100