Are you trying to figure out if Monzo cards are contactless and how to make the most of this feature? Don’t worry, we’ve got you covered! This article provides a comprehensive answer to your question and details the advantages of contactless payments with Monzo. It also explores the security measures and the flexibility Monzo offers to its users. So, let’s dive into it.
Contactless Payments with Monzo
Yes, Monzo cards are contactless. Once you’ve used your Monzo card for the first time using Chip and PIN, you can use it to make online and contactless payments. Your card should work anywhere that Mastercard’s accepted, even abroad.
How does Contactless Work?
Wondering how this contactless method works? Let’s break it down.
- Contactless cards, like Monzo, have an antenna and a computer chip embedded in the plastic.
- When held near the reader in the store, the chip communicates wirelessly with the reader using Near Field Communication (NFC) technology.
- The card must be within an inch or two of the reader for the payment to go through, preventing accidental payments.
- Contactless transactions are secure as they are protected with a one-time encrypted code, similar to chip transactions.
Benefits of Using Tap to Pay
Monzo’s contactless payments offer numerous benefits:
- Speed: You can tap to pay in-store and save time at checkout. Get an instant notification every time you spend.
- Travel: Tap at public transit that accepts contactless payments. No need to buy a separate pass!
Spending Limits and Flexibility
To enhance convenience, Monzo has increased the limit for contactless card payments from £45 to £100. However, to keep you safe, Monzo will ask for your PIN after you spend £200 through contactless. Moreover, Monzo offers flexibility in setting contactless spending limits. You can choose to set your contactless spending limits to levels you’re comfortable with, or even turn contactless off entirely if you prefer.
|Contactless Limit Types||Max Limit|
|Single contactless tap||£100|
|Maximum spend over multiple payments without PIN||£200|
Keeping Your Money Safe
Monzo has robust measures to keep your money safe while using contactless. You will receive instant notifications whenever you pay with your Monzo card. If you receive a notification for a payment you don’t recognize, you can immediately freeze your card in-app to stop any further payments.
Monzo is Not a Credit Card
Please note, the Monzo card is a Mastercard debit card, not a credit card. Any money you spend will come straight from your Monzo account. Monzo does offer a credit card alternative, called ‘Monzo Flex’, but it comes with its own features and conditions.
Frequently Asked Questions
1. What are the downsides to Monzo?
Monzo has a few limitations that could be seen as downsides. They include:
- Daily withdrawal and spending limits.
- Being an app-only bank, it requires the Internet and has no physical bank branches.
- There is a £1 fee for depositing cash at a local PayPoint.
- Customers can only deposit a maximum of £1,000 cash every 6 months (£500 if you are 16-17).
2. Can I add Monzo to Google Pay?
Yes, you can add Monzo to Google Pay. However, Mastercard is currently experiencing some issues with activating some cards for Google Pay that are beyond Monzo’s control. In the meantime, you can try the following steps:
- Remove your card from your Google Pay completely.
- Force Close the Monzo app.
- Open the Monzo app and tap ‘Manage’ to the right of your transaction feed.
- Tap on Add to GPay and follow the steps to add your card to Google Pay.
3. Is Monzo an e wallet?
Monzo offers virtual cards that can be added to your digital wallet such as Apple Pay or Google Pay for making purchases in-store using your phone. They can be used pretty much anywhere that accepts contactless card payments. However, to create your first virtual card, you must be on the Pro account. These virtual cards are available on your Home screen in the Monzo Business Pro features list.
With Monzo, you can enjoy the convenience of contactless payments, while also having the flexibility to set spending limits that suit your needs. Additionally, the instant notifications and in-app card freezing feature provide an added layer of security. Thus, Monzo not only offers contactless payments but does so with a focus on safety and convenience for its users.