Re: Contactless cards and the future of cash
 

A cashless society will help HMRC cut down on tax evasion e.g. window cleaners and cut down on benefit fraud. Contactless helps with the fight against Covid.

If your card is used fraudently, the banks should refund you under the Payment Services Regulations.

It's also safer than carrying cash or keeping it at home and will disrupt illegal activities so, on balance, I think i'm in favour.

Re: Contactless cards and the future of cash
 

Yes, let’s get after them window cleaners.

Re: Contactless cards and the future of cash
 

Scaremongering is all it is.

Yes, Im sure it could happen, if everything fell into place.
The again, your card could be cloned in an ATM, or when paying anywhere where you lose sight of it for a few seconds. You could be scammed by email, online purchase, or many other things.

Just more tin foil had brigade.

Re: Contactless cards and the future of cash
 

I've had my debit card cloned and it was more an inconvenience than anything else. The fraudsters made a small value transaction (£1.70 car park) to test that it worked. Then they tried to order some IT equipment online about nine times but each time that transaction failed. This alerted the bank who rang me straight away, cancelled the card and reversed the car park transaction.
The bank said it could have been cloned anywhere so not to worry about it.

Re: Contactless cards and the future of cash
 

A consumer advice show has just said that people can be made liable for at least the first £50 that is spent before they report a card as lost or stolen. Apparently, they are "very reasonable about this" {unusually for banks).

However, if they believe that you've been negligent or taken your time to report the loss, this can be more up to the value of the value spent!

Negligent is a very subjective term though. Have you been negligent leaving it unattended somewhere? I would say yes, but have you been negligent by losing it out of your pocket? Not so clear cut.

I suspect a lot of people lie when they report a loss or theft.

Re: Contactless cards and the future of cash
 

I keep my cards inside a credit card hard wallet inside my bra.

Re: Contactless cards and the future of cash
 

Good idea, though personally i'm not going to start wearing a bra just to keep my cards safe :D

Re: Contactless cards and the future of cash
 

Use a merkin instead...

Re: Contactless cards and the future of cash
 

:D

---------- Post added at 10:10 ---------- Previous post was at 10:09 ----------


:shocked:

Re: Contactless cards and the future of cash
 

I have a nice wallet that holds my cards and cash (coins and notes). When in office wear it sits in my shirt pocket else in my hip pocket, why should I buy a new wallet?


I like the opportunity to use cash as while you can use cash the government can't stop you trading. It's not the current ones you need worry about but the potential future rules. If there is no cash they could stop groups of people from buying or selling.



It could be sold as a way to protect from convicts, you lock their "account" so it can only be used for prison scrip, relatives can add to it, they can earn to it but if the escape they can't use "real" money.
OR
Use for military on deployment, they can use scrip for buying on base but not with locals and locals can't get scrip or however you want to reduce smuggling etc. Officials locals could take scrip and sell "approved" items/services.
OR
Use for foreign currency, you account could get a wallet for foreign currency you can fill up and then spend without the normal CC add on for foreign transactions.

Re: Contactless cards and the future of cash
 

That must get some interesting looks when it comes to paying. :erm:

Re: Contactless cards and the future of cash
 

...Or someone could steal your cash. Nothing is 100% safe. At least if your card is stolen you can cancel it, and get a refund from your bank. When you have cash stolen, you'll be very lucky to see that again.

Re: Contactless cards and the future of cash
 

I can't remember the last time i used cash in the UK, I rarely even take my wallet with me, I pretty much now just use Apple Pay and either my phone or my watch.

Re: Contactless cards and the future of cash
 

Mobile and watch payments need to have another form of activation though in order for them to work even for within the contactless limit.

For Apple you have to wake your watch or do biometric ID on the phone. Android devices and watches need something similar most of the time (though sometimes it's as simple as making the phone is 'awake')

It's why you can now do higher transactions with two forms of verification from the PCI guidlines which are:

'Something you know, such as a password or passphrase. Something you have, such as a token device or smartcard. Something you are, such as a biometric.'

My bank Natwest have recently allowed me to manage contactless (along with other payment methods) on my debit card. This now matches the app-based card providers.

I'm hoping the next stage on this will be to allow me to set my own contactless limit below the default if I want to.

Re: Contactless cards and the future of cash
 

Yeah, I use my phone now for payments rather than card now as I need to open my (Android) phone with a fingerprint. Definitely feels more secure than just tapping a card...