Monzo calls for debit card restrictions on gambling payments

UK lender and financial services company Monzo has called for stricter measures to enable banking customers to exclude wire transfers and debit card payments as viable options for making casino deposits.

The call for action was addressed to the government and specifically the UK’s minister of sports Nigel Huddleston who has been petitioned in a letter signed by Monzo, NHS addiction experts and anti-gambling lobbyists.

Monzo said that the Gambling Act 2005 review makes it the perfect time for the government to introduce more consumer safety measures. These measures, Monzo argued, have a proven track record in protecting consumers from gambling harm.

Furthermore, they are easy to build and implement. Banks in the UK have already introduced a full-scale credit card ban for gambling payments, and extending this to cover debit cards would be a good idea, says Monzo, which estimates that 40% of UK bank customers have no access to such restriction tools.

Monzo is also calling for the creation of a central financial registry focusing specifically on gambling companies banking information. This way banks would be able to track consumers trying to circumvent a debit card restriction.

While the measures sound restrictive, all Monzo is proposing is the introduction of tools that consumers can use to restrict their gambling habits more easily. With the low cost of creating such measures, adoption shouldn't be too difficult.

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Written by Barney

Co-founder

Barney is co-founder of CryptoGamblingNews.com. When not at work he can usually be found behind a Nikon. He's won numerous international competitions for his photography and volunteers as a content creator for aid organisations in Africa.

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