UK-based mobile-only bankers Monzo have pledged to introduce a new feature allowing customers to block all gambling transactions from their Monzo accounts.
Currently, Monzo says its policies regarding suspected problem gambling activity includes identifying patterns of behavior, then starting a “sensitive, tactful conversation” with the customer and potentially pointing them in the direction of the GamCare charity, which provides free software to block customers’ access to gambling sites.
This week, Monzo announced that it was adding functionality to its mobile app ‘in the next few weeks” that will allow users to self-exclude directly from their bank account. The feature will be included in the app’s settings, which, if switched on, will prevent the use of customers’ Monzo accounts from being used for gambling purposes, be it online or land-based.
Monzo said its new feature will rely on identifying merchant category codes, and the company will “do our best to block any payments you try to make” to merchants whose codes indicate a gambling connection.