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I have a TSB account that rewards the first £100 of contactless payments a month with 5% (ie a fiver ffs)
I didnt realise it was only contactless payments that qualified so was waiting for the first 'reward' and rang them to find out why I hadnt got the money.
Well Ive never used contactless....though my online shopping that I use it for was done with even less contact that contactless but there you are....
So what Id like to know is why are banks promoting contactless over PIN or online payments, do they charge the retailer more for using it?
To add further tedium, the contactless has to be made in transactions of 30 quid or less eachtime.
Its a joke.
I didnt realise it was only contactless payments that qualified so was waiting for the first 'reward' and rang them to find out why I hadnt got the money.
Well Ive never used contactless....though my online shopping that I use it for was done with even less contact that contactless but there you are....
So what Id like to know is why are banks promoting contactless over PIN or online payments, do they charge the retailer more for using it?
To add further tedium, the contactless has to be made in transactions of 30 quid or less eachtime.
Its a joke.
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Replies: 32
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Yes because contactless payments of large amounts requiring no pin by waving a card near something are a very good idea.
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Lost me?
You cant make contactless payments of large amounts. If you are saying contactless in general is a good idea then fine, let the convenience be the reward....why promote it over other payments which dont get the reward? |
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I gather you missed out 'not' JC
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I was being sarcastic. Do you think that people making payments of large amounts above £30, say £500, by waving any card near a terminal and without having to enter a pin, do you think this is a secure and good idea?
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I don't like them, never used them, don't trust them, if I could get cards that weren't contactless I'd prefer them but the banks now force them on us. I keep my cards in a wallet that stops them being scanned.
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No.
I think they whole idea is pretty pointless tbh, but my concern wasnt for the tedium of the required multiple small transactions rather the contrived notion of having to use contactless over PIN.... Which I can only assume is down to a greater pay off for the bank otherwise why do it? |
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Ive never used them either and have heard of them taking payments just from being close to a register.
Maybe thats the point of promoting them  |
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I use mine all the time. Saves a lot of faffing around for small transactions and you don't end up with a pocket full of shrapnel as you do with cash.
Seems I'm with the "wrong" bank as there are no rewards for using it  |
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I've heard of people drilling the antenna out etc. They are a security risk.
I don't like the idea of anyone near me being able to scan my cards in my pocket, or if I lose my card or wallet there being a period of time before I get it reported when people can skim smaller amounts without a PIN. I dont' want them. |
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5% is a good offer, you shouldn't complain, they'll be making a loss on that.
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Aye but you have to buy a lot of coffee at starbucks to qualify for it.
If its because people cant remember their PIN then its a damning indictment of the future. |
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In fact you'd be very lucky to get 5% anywhere as a savings rate? Open your own shop and keep selling stuff to yourself on your own card all day. Then buy a yacht
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Its a pitiful return considering the hoops you have to jump through if you dont frequent coffee shops.
Its like the accounts in general...get 4% on 2000 quid....year thanks for that (thats sarcasm back at you JC) |
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I think they just want to cut down on the use of cash as it's an expensive process all round. You have to remember your pin if you want to withdraw money from an ATM.
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Just lay Angela Eagle for labour leadership. 8% return last time I looked.
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Oh dear, seems to have gone now and hardly anything left to lay at any price
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Dont bet on politics, even the data supplied is generally miles off because people dont tell the truth until they are alone in a cubicle with a pen.
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Generally that's right but Eagle just hasn't got it and is being used as a stalking horse. Surely even labour wouldn't...or would they? They're fecking daft enough that's for sure.
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got my card between two silver foil cards
to stop people lifting your details using a card scanner. see youtube = card readers contactless. |
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Yes zorro that's all these wallets do, shielding.
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made my own. tinfoil and card. saved £12.99
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I was just about to tell a story about my eccentric Aunt who keeps her card wrapped in tin foil so people can't walk by her in the streets and scan her card.
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Thing is its totally common sense, and not mad!
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She's not an "eccentric aunt" - shes smarter than you.
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Contactless payments...scares the hell out of me ...
 Don't want it ! |
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Thanks, JC!
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Im still scratching my head as to why there are two standards of payment, one which they reward and one which they dont?
They have to be corralling people down the contactless for some reason other than convenience imo, since PIN isnt exactly difficult is it? |
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Its a lot quicker processing
Simples |
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blimey its a tough world when PIN is considered slow but then I suppose when the soul has been sold to enterprise then nothing surprises.
That extract speed of churning custom comes at a sacrifice of security hence why you can only buy sandwiches with it |
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extra
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Thing is I'm not even being sarcastic, it's the truth!
Foil, if used correctly, stops these buggers working. Same as phone-less train carriages. Same principle as how tv cables work, its just shielding. |
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I went down to the bank to ask for a replacement
card as the swipe strip was coming off. the assistant said the new one would be contactless. I said I'd rather not have that feature. She said we can order you two? one contactless the other not? So i'd have two? I said to forget it. I wasn't sure if I would be charged for it. i cut up my old card and it had a chip about a cm square in size. looked up youtube to see what it did. strangeness minus one. |