Bank move allows customers to limit how much they spend on gambling each month

Oxford Mail
 
Bank move allows customers to limit how much they spend on gambling each month
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Lloyds Bank customers will be able to set personalised limits on how much they spend each month on gambling using their debit card, as part of a trial.

The feature allows people using the Lloyds Bank mobile app to set a monthly debit card gambling limit of any amount to the nearest pound, when spending online, in person or over the phone.

The new feature is being launched to understand how helpful customers find the ability to set a monthly limit, alongside the existing ability to freeze gambling transactions completely.

Lloyds customers have been able to freeze gambling spending completely since 2019.

Other banks also offer customers the ability to use gambling blockers.

Lloyds said setting monthly limits will give customers more control in budgeting how much they are spending on gambling. It can be adjusted or removed at any time and will automatically roll on each month, until the limit is removed.

Philip Robinson, director, personal current accounts at Lloyds Bank, said: “For several years, we’ve helped our customers ‘turn off’’ gambling spend.

“Our newest feature lets customers set a personalised gambling spend limit, helping them better manage their money and establish boundaries around certain spending behaviour.”

Anna Hemmings, GamCare chief executive officer, said: “As many households are having to think more carefully about their budgets, the launch by Lloyds Bank of its new in-app gambling spend limit feature will give those most vulnerable to gambling harms an important means of controlling their gambling – and preventing harms from escalating.”

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Lloyds Bank launches trial on personalised gambling spend cap

Gambling Insight Gambling Insight 20 days
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@LloydsBank How easily can a vulnerable customer change these monthly gambling limits? Are the monthly limits set based on personal banking account income or turnover?

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To promote safe gambling and offer help to marginalised players such as female gamblers - GamCare has launched a brand-new support group focusing solely on women in gambling. 🔗 Read more here:

To promote safe gambling and offer help to  marginalised players such as female gamblers - GamCare has launched a brand-new support group focusing solely on women in gambling.

🔗 Read more here: