Direct involvement from the UK banking industry in gambling self-exclusion is becoming increasingly prevalent, with both challenger banks and traditional institutions now offering customers the option to block all gambling transactions directly.
App-based bank Monzo announced last month that it was adding a self-exclusion switch to its smartphone software, and last week rolled out the project nationwide.
Fellow challenger Starling Bank this month unveiled a similar service. Both apps use the merchant codes most commonly associated with gambling to block transactions.
According to Starling, “this includes betting shops and horseracing tracks, as well as gambling websites such as online casinos and betting exchanges”.
Request a Free Trial
As a trusted source of regulatory intelligence for the global payments industry, we enable organisations to manage the growing volume and velocity of regulatory risk with confidence, empowering more informed and effective decision making, in an efficient and cost-effective way.Take a Trial