What Banks Do Support Gambling Transactions Block?

Addictive gambling has resulted in people losing thousands of dollars to debts on gambling sites and casinos. The gambling commission of the United Kingdom recently banned the usage of some credit card casinos based in the United Kingdom or any such activity which was implemented from 14th April 2020. While the UKGC was reviewing the case, lots of surveys and reports came up showing the negative impact of gambling addiction. A report revealed that 0.5 percent of the adult population of the UK suffers from gambling addiction. 

The report by the North American Foundation for Gambling Addiction showed that 2.6% of the total population of the U.S suffers from problematic gambling. GamCare and Gordon Moody Association cooperated to submit 86 responses from people under treatment. All the surveys and reports suggested that financial institutions should take more responsibility on the matter and take action towards the protection of their consumers from addiction. Considering all these, various banks and some well—known financial institutions took a step forward to help their struggling customers by blocking gambling-related transactions. Banks like Lloyd’s, Halifax, HSBC bank, etc supported transaction blocks for gambling sites. 

How do Banks Support Gambling Transaction Block?

The UKGC ban on credit card usage is a significant step towards the prevention of gambling addiction. But the ban is only applicable in UKGC licensed websites or GamStop sites, but non-Gamstop sites can still use a credit card as a payment method. The same problem occurs in the case of the block by GamStop self-exclusion plan, punters can still gamble on sites that are not regulated by UKGC, thus are not in the database of GamStop. For any self-exclusion plan to work, it needs all the gambling and gambling-related sites in their data. This requirement is unattainable and hence punters always get around blocked by software like GamStop, Netnanny, Betblocker, GamBan, etc. All these blockers are used as top-notch tools to help gambling addicts by blocking all sites for a particular period. But even these blocks fail to stop the habit, as the addicts use non-registered sites to gamble which is even riskier. While a block from the block will be applicable for all the gambling sites. 

Before, Customers of certain banks could ask the bank authority to block any transaction from different problematic sites like online casinos, sportsbooks, etc for a particular period. This block was similar to self-exclusion plans. Now, some banks like Llyod’s bank and digital mobile-only banks like Monzo and Starling mandatorily have blocked any transaction on gambling sites and such other sites. This means you would not be able to make any payment on these sites using cards, mobile banking, bank transfers, or any method that concerns your bank. This is the preventive step taken to check addictive gambling. 

Banks that Support Gambling Transaction Block 

Here is a list of banks that block transactions on gambling sites:

  • Llyod’s Bank: It is one of the big four clearing banks founded by Sampson Llyod and John Taylor. It is a retail and commercial bank based in Britain descended from Llyod Banking Group.
    • Halifax: It is owned by Llyod’s Banking group and is the trading arm of the bank of Scotland. 
    • Royal Bank of Scotland. It was founded in 1853 in the UK.
    • HSBC Bank: It is an American bank based in the UK, founded in 1850, while the full name of the bank is Hongkong and Shanghai Banking Corporation. It has its headquarters in New York. The bank provides multi-factor authentication for secure online transactions.
  • Barclays Bank: Barclays bank is a “multinational universal” bank based in the UK whose branches spread across the world with headquarters in London, England, and the UK. It was founded in 1896 in the UK which now has a GBP of over 0.3 billion US dollars.
  • Monzo Bank: Monzo is one of the first online banks in the UK. It was founded in 2015 by Barry Dolman and his team. Banking services are provided by their mobile application which works on Android and iOS. 
  • Starling Bank: Like Monzo, it is also a digital challenger UK-based bank. But it was founded earlier than Monzo, in 2014. The online bank is regulated by Allied Irish Bank while its headquarter is positioned in London. 
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General Steps to Follow to Activate Transaction Block on Gambling Sites 

All banks have different mobile technologies to give access to online banking to their customers. Although all the apps follow a similar layout, thus one set of steps is enough to understand the layout of different banking sites. Follow the given steps to activate the block on gambling sites using online banking apps or sites.

  • Download and install the mobile banking app for the particular bank from the app store.
  • Register to the mobile application by filling in your account details.
  • Once the registration is complete, you need to find the option “manage cards”. It could be under the option “more” or “my account” or “account details” section.  It might be under the section of “quick links as in the case of Barclays bank. 
  • After selecting the option, “manage cards” choose the “gambling restrictions” option. it could be named as “gambling transactions” or “card freezes. 
  • After clicking on the options, transactions on gambling sites will be blocked. 

Conclusion

Gambling addiction can be put under control when gambling sites, financial institutions, and blocking software like GamStop, Net Nanny, etc work hand in hand. Every institution should spread awareness about the harmful impact of addictive gambling. It is evident from several reports that financial institutions play a significant role in controlling gambling addiction.

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