Bankinter raises Contactless payment limit from 20 to 50 euros so that customers will not have to enter PIN number
The bank has announced the measure to customers in regard to any cards they hold
Bankinter has decided to increase the limit required for Contactless payments without a PIN or signature from 20 euros to 50 euros. Therefore, the bank’s customers will not have to enter their PINs on a point-of-sale (POS) terminal or have to sign a POS receipt.
This is another measure within Bankinter’s shock plan to help retail customers and companies during the coronavirus situation. More specifically, it is a health precaution, as payments of between 20 and 50 euros no longer require customers to have physical contact with others’ devices. The bank has already announced the new Contactless payment limit to customers.
Currently, purchases with payment methods are still taking place at establishments allowed to open, primarily those belonging to the food, health and pharmaceutical industries.
Furthermore, Bankinter cards are also valid on all payment apps and ‘wallets’.
On 2 March, Bankinter announced a shock plan with measures to mitigate the effects caused by COVID-19. These include paying unemployment benefits a week early to eligible customers, paying pensions five days early, a four-month grace period on mortgage principal payments for vulnerable customers, and paid interest and Salary account perks even if current account holders’ deposit less than the required minimum to be eligible for this product's advantages.
The bank has also implemented several measures for companies, SMEs and sole traders, like credit facilities and financing, in addition to the public lines of guarantees announced by the Spanish State.