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GAMBLING BLOCK

Digital bank Monzo is going to let customers block payments to gambling sites to help addicts

Users can opt in to the feature that will let the bank automatically decline any payments leaving their accounts to gambling sites

MONZO customers will soon be able to block payments to gambling sites to help curb addictions.

Customers will be able to turn the feature on themselves in the app, which will mean the bank automatically stop payments made to gambling merchants through their Monzo account.

 Monzo's new feature will be rolled out in the coming weeks
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Monzo's new feature will be rolled out in the coming weeksCredit: Monzo

The news comes on the same day that the bank finally let's customers use Apple Pay.

But if concerned customers opt in to the scheme, all payments to gambling sites will be declined whether they're made online, via the app or in person.

To remove the block, customers will need to chat to a member of staff at Monzo who's been trained to help vulnerable customers.

They will then have to wait 48 hours before they can switch it off from the app.

 you can spot the coral coloured cards a mile off
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you can spot the coral coloured cards a mile offCredit: Monzo

It's a system that is already used in UK banking but often on children's accounts to block any inappropriate spending.

Barclays already lets users stop gambling transactions on its Barclaycard credit card, but Monzo reckon they're the first UK bank to bring the feature to personal current accounts.

They're hoping to roll out the feature to users over the next couple of weeks.

More than 80 per cent of people who seek help for a gambling addiction are also in debt, according to GamblingAware.

The move comes as the maximum stake on fixed odds betting terminals will be dramatically slashed to just £2 in a major victory for gambling campaigners.

Helen Undy from Money and - run by Martin Lewis - said that the "simple change" will make an "enormous difference".

She said: "It's currently not possible to self-exclude from all forms of gambling - after being excluded from high street bookies people can cross the street to go to a casino, or log on and gamble online.

"It's a system that just doesn't work. That's why we've been calling for banks to step in, allowing customers to block all types of gambling transaction in one go.

"We hope to see more banks following suit and offering it to their customers soon."

Monzo accept that it's not going to work for every gambler, as ultimately the consumer can still use another account to feed their addiction.

Digital-only banks are on the rise, offering customers anything from savings and current accounts - and some even offer mortgages.

Controlled primarily through an app, the aren't constrained by the same things traditional banks are. For example, Revolut now lets customers pay online with "disposable" card details in a bid to tackle the rise of online crime.

Not sure where to start? Here are the challenger banks you should be looking out for - and some of them are great news for your savings.


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