What you need to know
The contactless payment dollar limit increased from $80.00 to $200.00 in April 2020, this was a temporary change in response to COVID-19.
A permanent change across all banks will see a decrease in the contactless payment amount limit from $200.00 to $150.00 from 2 November 2021. When you use your SBS Debit Mastercard® to make a contactless purchase, you’ll be required to enter your PIN when the transaction amount exceeds $150.00.
What do you have to do?
Just follow the instructions on the retailer’s PIN pad when you’re making a payment
- For payments under $150.00, you will be prompted to tap your card and no PIN will be required.
- For payments of $150.00 or over, the terminal will ask you to enter your PIN.
If contactless payments are not available at a retailer, you’ll still be prompted to enter your PIN.
Debit Mastercard Terms and Conditions Changes
Our Debit Mastercard Terms and Conditions have been updated to reflect the change effective 2 November 2021.
More information on these changes, can be obtained from any SBS Bank branch, by calling 0800 727 2265 or by visiting sbsbank.co.nz/terms-conditions.
What about security?
It’s vital you continue to always keep your card safe to protect against theft and check your account often. We will continue to monitor your account through our predictive fraud systems and alert you to any unusual activity.
If you lose your card or have any concerns about unauthorised transactions on your account, please contact us immediately.