The planned increase in the UK’s contactless transaction limit from £45 to £100 announced by the UK Treasury in March could come into effect on 5 August, according to a Reddit user.
The UK Treasury’s original announcement did not specify when the increase would be implemented other than “later this year”, but the Reddit user says that they have “recently had an email from Virgin Money stating the new higher limit will be in place from August 5th 2021”.
The UK Treasury has yet to officially confirm that this is the date the new limit will be implemented.
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