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 Monzo’s new feature will be rolled out in the coming weeks
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.
Monzo you can spot the coral coloured cards a mile off
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 Mental Health Policy Institute – 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.