UK News ‘Encourages theft of bank cards' Britons rage against rise to contactless limit
Squid Game boss explains character's hair transformation in the finale
Creator Hwang Dong-hyuk reveals all.Squid Game writer-director Hwang Dong-hyuk has explained why Seong Gi-hun dramatically altered his hair in the finale.
On Friday, the contactless payment limit rose from £45 to £100, a change that was approved by the Treasury in hopes to boost the highstreet economy. But critics said the move was not necessarily in the best interests of the British public.
Anne Boden, chief executive of Starling Bank, questioned whether there is a real consumer demand to spend more on PIN-free transactions.
She said: "Analysing our spending data we can see that there appears to be little demand for the increased contactless limit and that many would like to retain the same contactless limit or even reduce it."
20 celebrities that don't get enough love
Some celebrities just never get enough love. Sometimes it’s because they deliver such great performances, you only see the character. Other times, it’s because they’re openly gay, they’re fat-positive, or speak up on social issues. But many of them are active in charity work, supporting marginalized communities. Their bravery and character deserve some recognition. These celebrities don’t always receive mainstream attention, but it’s time for them to get some love.
In a poll of 1,123 people conducted by Express.co.uk from October 15 to 20, a staggering 87 percent of people said the contactless limit should be less than £100.
The largest share of the vote, 46 percent of people, said that contactless should be capped at £45.
One voter said: "Absolutely no need to raise it. No major issue having to insert your card and tap in a pin number. Fraud will increase and with youngsters adopting a 'it's not like real money' attitude, their debt will soar."
This data supports Ms Boden's claim that there is very little demand to raise the contactless limit.
However, an astounding 60 percent of card transactions in the UK were contactless in the first seven months of 2021, making up 6.6 billion payments at a value of £81billion.
Ex-Bank of England adviser interest rate rise would be a 'disaster'
David Blanchflower said the increasing 'mood music' that rates are about to be lifted was 'foolish' as price rises coming through the system now are almost certainly 'terribly temporary'.David Blanchflower said the increasing 'mood music' that rates are about to be lifted was 'foolish' as price rises coming through the system now are almost certainly 'terribly temporary'.
The cumulative spending threshold has also increased, more than doubling from £130 to £300.
Meaning you can use contactless for multiple payments in one day, as long as it does not exceed a spending total of £300.
Some experts have suggested that this larger sum might make the idea of theft more appealing to those considering a life of crime.
Whilst others have pointed out that a lost card, which would usually be handed in by a normal passer-by who does not know the required pin, might be more tempting to steal from with the easy access contactless provides.
Graham Farrell, professor of crime science at the University of Leeds, has warned that the contactless rise could cause a "huge increase" in attractiveness of bag snatching and pickpocketing by teenage thieves.
Inflation dips to 3.1% in September easing pressure for rates rise
The headline CPI rate was down slightly from the 3.2 per cent recorded in August, despite analysts' expectations it would hold steady. The figure will give the Bank of England pause for thought amid a growing clamour for a rate rise as soon as next month to stop prices getting out of control.However, the Office for National Statistics stressed that the downward shift was partly due to the effects of the government's Eat Out to Help Out discounts unwinding 12 months before.
But Canada, Singapore, and Australia all introduced contactless limits of over £100 and saw no notable rise in fraudulent transactions.
Banks say that criminals tend to be more interested in bank transfer scams involving bigger sums of money.
During the first six months of this year, contactless fraud - covering cards and mobile phones - totalled £7.6million, compared to a staggering £355million that was lost to scammers.
Despite this fact, there is an undeniable fear amongst Britons that they are more likely to be at risk against highstreet theft.
A huge 84 percent of poll respondents said they are worried about the contactless limit rising to £100, whilst 16 percent said they were not.
One reader said: "This just ENCOURAGES thefts of bank cards."
While another agreed: "Criminals will be making an even MORE concerted effort to steal all the bank cards they possibly can."
Other people are concerned about frivolous and dangerous spending becoming even easier with the raised cap.
Customers of Lloyds Bank, Halifax and Bank of Scotland will be able to choose a contactless limit between £30 and £95 if they prefer, and many banks allow customers to turn off contactless completely or order a non-contactless card.
Make sure you're never left behind by receiving the biggest news of the day covering politics, royal, and finance. Sign up for the Daily Briefing alert here:
Rishi Sunak says booster jabs will prevent another lockdown .
Rishi Sunak said whilst the winter would be 'challenging' for the NHS, he ruled out another lockdown and said the booster Covid jabs means the UK is now in a new phase of controlling virus.The Chancellor said the jabs will remain the government's 'first line of defence' in controlling the virus and stopping the NHS from becoming overwhelmed by the virus this winter.