Bank Account Gambling Block Usage on the Rise in the UK
There was an increase of 33% in the number of people blocking gambling-related transactions in last six months.
Monzo launched the gambling block tool in June 2018. Since then half a million of Monzo's accountholders have used it. The block can only be deactivated if the accutcheur gets in touch with the support team and waits out a 48-hour deactivation period.
People in the UK and further afield are struggling with the rising cost of living. Many people are trying to cut back on discretionary spending. The Christmas period and the ongoing FIFA World Cup are driving some people to gamble. Gambling-related charities have seen a rise in problem gambling behavior since the beginning of the cost-of-living crisis.