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Nationwide, HSBC, Natwest and TSB Rules as Payments Change This Week
The FCA rule allows banks with strong fraud controls to set contactless limits flexibly; 94.6% of UK in-store card payments were contactless in 2024, Barclays data shows.
- On March 19, 2026 the Financial Conduct Authority allowed UK banks and payment providers with strong fraud controls to set their own contactless limits, giving firms flexibility over adoption rather than a mandatory cap.
- The FCA framed the change as intended to help firms respond to consumer demand, inflation and new technology, with the review one of around 50 measures outlined in a regulator letter to Prime Minister Sir Keir Starmer.
- Several banks and fintechs already let customers adjust contactless settings in apps, with Starling Bank allowing a slider from £100 down to £0, Monzo permitting lowering or disabling contactless, and Revolut offering monthly spending limits but no lower single-transaction cap.
- Most major providers are keeping the £100 cap for now, and banks that alter limits must notify customers clearly while consumers eligible for fraud reimbursement retain protection.
- Contactless already accounts for the vast majority of in‑store card transactions, with Barclays consumer spending data showing 94.6% in 2024 and UK Finance noting mobile wallets allow higher authenticated payments.
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17 Articles
£100 contactless payment limit is scrapped today - how will it affect you?
Most of Britain’s banks will keep the £100 limit (Picture: Getty) Beginning today, banks and payment providers with fraud controls can set their own higher contactless card payment limits. Britain’s major banks have said they will keep the £100 card limit for now, with many also allowing customers to set their own limits for lower amounts. This means that they will have the flexibility to make changes in future if they want to. The contactless c…
·London, United Kingdom
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Coverage Details
Total News Sources17
Leaning Left3Leaning Right2Center10Last UpdatedBias Distribution67% Center
Bias Distribution
- 67% of the sources are Center
67% Center
L 20%
C 67%
13%
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