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More banks planning to let you block gambling transactions - MSE News
Former_MSE_Naomi
Posts: 519 Forumite
At least four more high street banks - the Bank of Scotland, Halifax, Lloyds and Santander - are working on plans to help customers restrict their spending on gambling, after Barclays became the first to do so last month...
Read the full story:
'More banks planning to let you block gambling transactions'
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'More banks planning to let you block gambling transactions'
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Comments
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....but for anyone curious, don't contact your bank and ask them to block gambling transactions unless you really need them to.
"In the future, everyone will be rich for 15 minutes"0 -
Personally, I don't support Martins slowing down theory. Enabling and disabling at will as in the case of Barclays and Monzo I don't have a problem. But taking 48 hours to turn off as in the case of Monzo is annoying and smacks of a bank deciding what I can do with my own money and guarantees that I will never apply for a Monzo account: I don't need yet another big brother!0
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But taking 48 hours to turn off as in the case of Monzo is annoying and smacks of a bank deciding what I can do with my own money and guarantees that I will never apply for a Monzo account: I don't need yet another big brother!
I don't think gambling is blocked by default though? The 48 hours only relates to turning off a block that you yourself chose to request.0 -
This should be enough to stop you gambling.
https://www.mirror.co.uk/news/business/bet365-boss-denise-coates-pay-136247060 -
Personally I think it's a great idea. It's 'off' by default and you make a conscious decision to block or restrict certain transactions.
I have a gambling problem, currently it's under control but when I get stressed then it can kick in and before I know it I've flushed a grand down the toilet.
Given the chance to disable those transactions with the option to turn them on but with a 48 waiting period means that when I get stressed and feel the urge then I can't do anything about it anyway.
I do have a degree of will power and can often just do something else, there are times though... I don't need to gamble, it's not something that I require so having the option to block transactions would be a huge benefit.
Being able to disable/re-enable instantly makes the whole thing pointless though IMO.0 -
londoninvestor wrote: »I don't think gambling is blocked by default though? The 48 hours only relates to turning off a block that you yourself chose to request.
Exactly! Martin applies his theory of "slowing down" to that but I disagree. To me it's big brother deciding what I can spend my own money on. Personally if it takes 48 hours to disable it I would not enable it in the first place and that debunks Martin's slowing down theory. It's probably a case of Monzo shooting themselves in the foot.0 -
Exactly! Martin applies his theory of "slowing down" to that but I disagree. To me it's big brother deciding what I can spend my own money on. Personally if it takes 48 hours to disable it I would not enable it in the first place and that debunks Martin's slowing down theory. It's probably a case of Monzo shooting themselves in the foot.
How is it big brother deciding what you can spend your own money on?. When you decide to enable the block you do it knowing that it cannot be turned off for 48 hours. Nobody is forcing people to enable this on their account, people are freely choosing to do it.
Also how would being able to enable it immediately help anyone?. Sometimes people make rash decisions to gamble then regret it soon after, this makes them stop and have to wait which i think will help in some cases.
If it's simply an instant on or off then it doesn't really help anyone.0
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