We need your help now

Support from readers like you keeps The Journal open.

You are visiting us because we have something you value. Independent, unbiased news that tells the truth. Advertising revenue goes some way to support our mission, but this year it has not been enough.

If you've seen value in our reporting, please contribute what you can, so we can continue to produce accurate and meaningful journalism. For everyone who needs it.

Contactless payments to increase from €30 to €50 on 1 April Shutterstock/Jacob Lund

Contactless payment limit will increase to €50 next week, as cash transactions drop by 20%

Banks have also warned the public not to be tricked into giving out their pin number online.

CONTACTLESS PAYMENTS WILL increase from €30 to €50 by Wednesday 1 April.

Speaking on RTÉ Radio One today, Brian Hayes of the Banking Federation said the increased limit is already in place in some large retailers around the country.

Hayes said cash transactions have dropped by 20% in the last week.

Last week, the Banking and Payments Federation said banks, retailers and technology companies are working closely to roll out the increased contactless payment limit, due to the advice to reduce cash transactions during the Covid-19 outbreak.

AIB recently said it would suspend its plans to introduce contactless fees of 1 cent per payment due to the coronavirus outbreak.

Banks have also warned the public not to be tricked into giving out their pin number online.

Hayes said in the current environment “the fraudsters still exist” and are trying to scam people.

He said banks have been getting calls from people who have been online shopping on third-party websites, and have been asked for their personal bank details.

If people are shopping online, they should use reputable retailer websites, he said.

“Never give out your pin number,” he said. “A bank or a public utility will never ask for your pin number,” Hayes said.

Last week, the government issued a similar warning.

A senior official said the Department of Social Protection has become aware of a number of members of the public receiving phone calls from individuals who say they are from the department and requesting their bank or financial institution account details.

Scammers appear to be taking advantage of the number of people who have signed up for the emergency pandemic payment, the department said.

“You will not get phone calls asking for your bank details from the government,” it said.

Readers like you are keeping these stories free for everyone...
A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article. Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation.

Your Voice
Readers Comments
This is YOUR comments community. Stay civil, stay constructive, stay on topic. Please familiarise yourself with our comments policy here before taking part.
Leave a Comment
    Submit a report
    Please help us understand how this comment violates our community guidelines.
    Thank you for the feedback
    Your feedback has been sent to our team for review.

    Leave a commentcancel