HSBC lets customers block spending on gambling websites

November 13, 2019 | Banking
Written by FinTech Alliance

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HSBC
HSBC lets customers block spending on gambling websites

A 24-hour cooling-off period can offer problem gamblers time to reconsider

In Brief:

  • Europe’s biggest bank set to offer 14.5 million UK customers the option to self-exclude from all gambling transactions - the latest bank to introduce measures intended to help problem gamblers.
  • The scheme has been shaped in partnership with the charities GamCare and GambleAware.
  • Monzo, Barclays and Starling already allow customers to block gambling transactions on their bank accounts or credit cards.

What this means

HSBC's move, with its major market clout, is intended to send a strong message to the gambling industry as it joins the growing trend in the financial sector to arm customers with technological tools to be more responsible.

Read more here
 

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