Hong Leong Bank (HLB) has announced that it will be revising the way it refreshes the cumulative limit for contactless transactions on debit cards, enabling the amount to be reset either on a daily basis or with PIN entry.

“The cumulative contactless limit is set to prevent cardholders from exceeding a certain amount for consecutive contactless transactions. Effective 8 September 2021, the cumulative contactless limit will refresh on a daily basis or with PIN entry. The cumulative contactless limit remains defaulted at Ringgit Malaysia Eight Hundred (RM800),” the bank stated in its announcement.

Currently, debit cardholders are restricted to a cumulative limit of RM800 for consecutive contactless transactions (payments made by tapping your card against the payment terminal) that can be refreshed only via PIN verification. This means that when you perform several successive contactless payments – which can be spread out over a period of a few days – and exceed the RM800 cumulative limit, you are required to reset the limit by keying in your PIN at the payment terminal before you can proceed with the next payment.

Following this update on 8 September, however, the cumulative limit for contactless transactions will be reset via two ways: on a daily basis or through PIN verification. In other words, the cumulative limit of RM800 for contactless payments will be renewed every day, on top of the ability to refresh it manually via PIN verification – thereby allowing you to spend more conveniently. This is in comparison with the previous refresh criteria that only permits the limit to be reset through PIN verification.

Do also note that the RM800 cumulative limit is the default amount provided by HLB; you are able to set your own preferred cumulative limit to any amount between RM0 (i.e. disabled) to RM800. If you’d like to change your cumulative limit for contactless transactions, you can do so by visiting any of the bank branches nationwide.

(Source: Hong Leong Bank)

• TAGS:
• Contactless Cumulative Limit
• Contactless Daily Cumulative Limit
• Contactless Payments
• Hong Leong
• Hong Leong Bank
• PIN Authentication