All of the banks will not follow the same logic to update your credit card. It tells you more here.
The 11 may this year, over 70 million credit cards will see their ceiling of contactless payment will increase from 30 to 50 €, while the government and the French banking Federation (FBF) said last week that it wants to make this novelty a gesture barrier to address the epidemic of COVID-19, encouraging consumers to not use cash and do not type the keys on payment terminals.
In 2017, the ceiling had already experienced an increase from 20 to 30 euros. But unlike today, the technology and the system had not allowed all the cards to be updated, and many had had to wait for the replacement of their credit card to finally be able to fulfill their payment of more than € 20 without inserting their bank card into the reader. The deployment will be faster this year, although each bank has a little bit organized its deployment differently.
How to update your card ?
According to the early returns of the establishments contacted by Capital, here is the details of update in the main banks. We’ll start with those where you will have nothing to do, so the bank will update your card automatically. We find the Account Nickel, Revolut (which has already updated its cards at the beginning of April), but also the online bank Fortuneo, as well as the customers LCL.
On the other side, there are several banks where the enhancement of the amount of contactless payment will occur after a payment or a withdrawal of DAB entered the secret code, in the same way that you use your bank card to activate it the first time. We note that the online banking Boursorama, Hello bank!, or BforBank. The handling will be the same in the postal Bank, as well as the traditional banks such as Société Générale, the beginning of which updates will take place as from 27 April next.
A case a little more complex in the mutual banks. ” Customers will be notified by their bank that they will indicate the terms and conditions “ specified in the groupe BPCE, the Banque populaire and Caisse d’epargne. The group explains that a large majority of their customers will have nothing to do, so that their bank card do not collect more information from these limitation directly in the chip, and therefore it is possible to set up a new ceiling automatically, without that the clients would not have to do anything. The group estimated that up to 20 % the share of customers who will have to make a payment or a withdrawal. It is especially for those who have an old credit card.
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