With the rise in problem gambling in the UK on the increase, steps are being taken across the board to tighten up legislation on gambling and gambling related issues. Barclays Bank have taken steps to combat problem gambling by giving customers the option to block the use of debit cards with bookmakers, now it seems more UK banks are taking the same initiative.
Protection Of Vulnerable Gamblers
In light of the decision to slash stakes on Fixed-odds betting terminals (FOBTs) in local bookies due in April 2019, gambling operators have been under increasing pressure to help decrease the growing number of problem gamblers.Gambling operators have already taken steps to ensure their customers are aware of being able to block payments to gambling sites, now it looks like the banks are following suit.The new changes will permit bank customers to block transaction to gambling websites, allowing them to think about what they are spending instead of going off on a tangent, spending money they can ill afford.There were initially five categories the bank first imposed blocked debit card transactions, Gambling, groceries and supermarkets, petrol stations, drinking and dining as well as premium rate websites and phone lines.
More Banks To Follow Suit
The Royal Bank Of Scotland who have around 30M customers will be introducing similar spending restrictions in 2019. This will give customers more control over their spending including Credit card spending.Lloyds are also looking at blocking gambling transactions from being made on debit cards. Lloyds who have around 22M customers are keen to help customers who may have a gambling problem, restrict and monitor their spending.Santander have also confirmed they want to raise customers awareness of gambling expenditure by introducing a similar scheme to Barclays. This will provide customers with an opportunity to restrict spending on certain categories.