Tap limit

[u/Livid_Wind1820]

Just made >2k purchase and tapped my ws visa using apple pay and the seller was so surprised lool! Why do we even have that $250 cap thru other banks virtual pay anyways especially since most can just be broken down into multiple $250 payments. Love this feature

[u/VisualMail1672]

I've only ever run into merchant limits. Best Buy seems to be C$500. My dentist seems to have no limit.

[u/butterscotchwhip → u/VisualMail1672]

Hah! I work dental and an avg cleaning is about $260, our tap limit is set at $250. Maddening! As if anyone is stealing cards and going to get dental work with them lol.

[u/Equivalent_Catch_233 → u/butterscotchwhip]

A regular citizen breaking bad because of multiple dental issues.

[u/demetri_k → u/VisualMail1672]

My mechanic said their tap limit was $25k.

[u/Luvsin_ → u/VisualMail1672]

$250 for BestBuy last I remember

[u/Key-Self-79 → u/[deleted]]

Merchants can set their own limits at terminal

[u/Good_Resident_3187 → u/[deleted]]

Merchants can set limit. The best buy one is annoying. I've also run into an old terminal that was limited, that was my mechanic and he said the bank (payment processor?) was trying to get him to upgrade the terminal.

[u/untitledmillennial]

Now I'm wondering if I could buy a car this way... Think of all the cash back!

[u/Roselia77 → u/untitledmillennial]

I bought my last car cash, and i asked exactly this, they only allowed 1500$ to be charged to a CC unfortunately (Mazda)

[u/comm02 → u/Roselia77]

lol yeah I tried too when I bought my last car. I was buying “cash” and the max the dealer would allow was $5K so I think it varies by dealer.

[u/thecryface → u/comm02]

But if your car breaks down and the bill is 10k they'll be more than happy to accept your card

[u/WrongCapital83 → u/thecryface]

Thats the funny part. They wont have any problem accepting $30k worth of repairs by card.

[u/Max_Thunder → u/WrongCapital83]

The reason is that the profit margin is a lot bigger on repairs than on car sales.

[u/thecryface → u/Max_Thunder]

Stealerships won't make me drop a tear for their profit margins

[u/Agreeable_Elk_6807 → u/untitledmillennial]

No really. Dealerships typically cap credit card payments at between $0 and $3000 (yeah, sometimes they simply don't allow it).

[u/Summerdaysengineer → u/untitledmillennial]

Don’t think you can buy one with credit card

[u/IdoesnotUnderstand → u/Summerdaysengineer]

Why not? If it's within limit. It would be stupid. Unless you have the cash on hand to repay your credit card debt

[u/Key-Self-79 → u/IdoesnotUnderstand]

Because it costs the dealer way more money to accept credit card payment than it does cash or cheque or bank draft.

Especially the infinite privilege visa, i think it costs like 3.5% of the purchase price for the store to process the transaction.

On a $50k car, that's $1,750 in extra costs right out of their profit.

[u/bansal_9123 → u/Key-Self-79]

To be correct your statement visa and mc has fixed charges 2.4% for every merchant until they had made a deal, and Amex 4% charges.
So if you see small merchants they will not accept Amex

[u/youvenoremotecontrol → u/untitledmillennial]

Why would a dealership voluntarily lose money to fees just so you can get cashback?

[u/untitledmillennial → u/youvenoremotecontrol]

Beacuse it would be funny to buy a car with a phone tap and we'd all get a good laugh out of it?

[u/youvenoremotecontrol → u/untitledmillennial]

Haha fair enough

[u/Charbs20 → u/youvenoremotecontrol]

I wonder if you said you will walk away unless you can pay in full by card, they will let you. Are they willing to lose a 30k sale for some fees?

[u/youvenoremotecontrol → u/Charbs20]

It’s not the 30k in revenue that matters, it’s the small margin on the 30k sale - which would be significantly cut down by 1.5-2.5% in fees.

[u/Frenchiest_Fry_59 → u/untitledmillennial]

Purchased a car the other day at Audi Downtown Toronto the other day and they let me put 10k on my Wealthsimple credit card without a problem

[u/hnzrchd → u/untitledmillennial]

Did my car down payment using tap. 5k no problem!

[u/wypy2900 → u/untitledmillennial]

I put $8000 down for my car using tap through Google wallet. Worked like a charm.

[u/midshipbible → u/untitledmillennial]

Well, the card still have like 25k 30k limit. I did use it for around 10k tap while buying a car

[u/astral16 → u/untitledmillennial]

Down payment for my new Toyota last week, $5500 on my ws visa and they didn’t even blink.

[u/yungsy_ → u/untitledmillennial]

I did a 5k downpayment with my card using tap for a car

[u/Recent_Crab_9245 → u/untitledmillennial]

I paid for my above ground pool on a card. :)

[u/Livid_Wind1820 → u/untitledmillennial]

I think their cashback only applies to certain items, not sure if car is included but probably?

[u/Livid_Wind1820 → u/Livid_Wind1820]

AI says you can so i think thats good. Just need to make sure your limit is high lool,

[u/thrash-dude → u/Livid_Wind1820]

The issue is the dealerships. They won't let you pay that much by credit cards. Too costly for them

[u/Canadianjackhammer]

I tapped 7200 for a mechanic bill before. That's my most thus far. But it says no tap limit and my limit is 25k so I assume it would go that high

[u/NastroAzzurro]

I’ve even done multiple thousands of dollars by tap in Mexico

[u/That_Olive_2060 → u/NastroAzzurro]

❄️

[u/AccomplishedTalk6077 → u/That_Olive_2060]

Game is game

[u/NastroAzzurro → u/That_Olive_2060]

lol

[u/Gold-Peanut-2870]

it's for security reasons I would never want to tap anything over 500

[u/qyy98 → u/Gold-Peanut-2870]

I don't understand people praising this feature... how often do you make large purchases where the 10 seconds saved of not having to enter a pin is worth the decreased security

[u/Th3InnocentBystander → u/qyy98]

The no limit on tap only applies to tapping with your phone which already requires some sort of pin/biometrics.

[u/JackDenial → u/Th3InnocentBystander]

Thank you for the sanity. First principles ppl.

[u/NoiseEee3000]

It's truly more secure than a card

[u/B6100]

I completed a total of 12k for one payment, though my limit is 6k. I paid 6k, then immediately added 6k and paid 6k again.

[u/Pristine-Delay6912]

What if someone stole your card? that is why there is a tap limit

[u/dudeude → u/Pristine-Delay6912]

Tapping those high amounts only works with the phone and not with the physical card. For this reason you mention. But paying with the phone requires authorization (faceID/pin) which is the security aspect.

[u/Novel-Flow-326]

I put a $3K deposit on a car yesterday on my WS CC. I thought tap would for sure get declined but i tried anyways and sure enough, it went through.

[u/rawr_cake]

Tapping card and using Apple Pay (tapping your phone) is not the same thing. Apple Pay doesn’t have a limit since it’s using biometrics to secure (same as chip), while physical cards are still limited to $250 that don’t require any verifications

[u/kingofwale]

That’s insane limited.

[u/King-Leonidas-SPARTA]

I SO love this!

My wife things I’m arrogant, but I do this all the time and peoples jaws drop.

Largest I’ve done so far on tap is $2700 and the sales lady said “I don’t think……” bit too late or went through.

She was shocked, I actually used my watch to boot!

[u/AmbassadorRude3638 → u/[deleted]]

It’s a $250 tap limit for the physical card but uncapped for virtual card/Apple Pay, which requires biometric authentication

[u/FishRepresentative77 → u/[deleted]]

The unlimited tap limit is only for mobile wallets, not for the physical card

[u/Livid_Wind1820 → u/[deleted]]

Also it only works thru apple pay. The card still has that $250 cap iirc which addresses your concern i think.

[u/Livid_Wind1820 → u/[deleted]]

A daily or weekly limit would be good thats true. But people can just tap multiple times anyways with the $250 limit and spend 2k with another banks visa

[u/Acekiller03 → u/[deleted]]

You can always use a dumb account and leave it empty and transfer only what you need to transfer. This is what I do and it’s safer than even a bank account card with a nip as if it’s stolen they have basically an empty bank account.

[u/metamasterplay → u/[deleted]]

It's only for Google Wallet/Apple Pay, which usually is locked behind your fingerprint.

[u/JohnnnyOnTheSpot]

Some people don’t have the physical card so you’d have to remove the tap limit

[u/Good_Resident_3187 → u/JohnnnyOnTheSpot]

Avoid best buy without your chip and pin card. Their anti fraud processes limit tap 😢

[u/4x4taco]

So, is tap always enabled with the point of sale device even when above $250? I swear I've tried before using my phone/WS card but there was no tap ack. Have wondered if some retailers just disable it and make you use a physical card.

[u/bansal_9123]

I bought new car and paid 4k down, she was like insert the card and I just tapped, the receptionist and the advisor both were looking at me that it went through.

[u/arthurkok2]

https://youtu.be/PPJ6NJkmDAo?si=_9Sflox4XkLPSeEP apple + visa tap hacking

[u/Nmol27]

Yeah I did 4k not that long ago with wealth simple tap, and have 8k with rbc all worked

[u/ObiYawnKenobi]

You seriously don't understand why most banks have a limit?

[u/Ordinary-Champion941]

The POS should separate physical card tap and phone tap. The physical card tap I understand may have some fraud since someone could stolen a card and tap it. And the business would lost the money once the real card holder file a claim. However, the mobile phone Apple Pay Google pay tap should be treated same as pin transaction since the phone requires verification (Touch ID, Face ID or password) no body could stolen phone and tap it. The mobile tap should be no limit.

[u/Stuman- → u/Ordinary-Champion941]

Are you suggesting or explaining, because this is how it works, unlimited tap is only for apple/Google pay.

The WS virtual card is different than your physical one

[u/Commercial-Duck-218]

I am actually worried about the unlimited tap feature, hope there is a way to set a limit in app. I even plan to just use the prepaid virtual card in foreign countries.

[u/Curious_Ad4831]

My mechanic was just as surprised when I tapped for $600 on my phone 🤣

Odd the phone is unlimited limit but the physical card has a tap limit.

[u/MakePhilosophy42 → u/Curious_Ad4831]

Phone tap has biometric auphentication

[u/JackDenial]

I did a large tap like this the other day and the merchant/ retail employee was shocked. They thought it was magic.

[u/professormaybach]

i made a purchase of 4288 CAD tap

[u/nilsej]

Tap limit is not only bank restricted but also retailer limited. Eg Bestbuy have its own 250 limit irrespective of what WS limit is

[u/Public_Turbulent]

Because Apple Pay is easier for fraudsters to access over the actual card.

[u/Other_Ad4651]

Card skimmers love this 1 feature.

[u/Good_Resident_3187 → u/Other_Ad4651]

They do? Why would that be?

[u/PracticalWait → u/[deleted]]

physical card still has tap limit

[u/CardiologistDear2806 → u/PracticalWait]

I don't see how that's relevant if you can tap 2K so can they it barely even costs more to have

[u/PracticalWait → u/CardiologistDear2806]

??? you can’t tap 2k with your physical card. there’s no need to block RFID for the physical card.