The largest bank in Europe, HSBC, has added an option on its mobile app for account holders to block all gambling transactions on their debit or credit cards. This self-exclusion technique is already offered by competitor banks including Barclays, Monzo and Starling.
By activating the toggle, HSBC should restrict any gambling related transaction made by the card. This means you won’t be able to deposit at online casino sites, make bets at the bookies, buy tickets for the national lottery, take part in online bingo or spend money on any other gambling activity.
This block will last until you decide to switch it off, however when activated there is a 24 hour cool down period before you can revert back and start gambling again. This is a great way to force yourself to limit your gambling or prevent you from trying to win back lost money.
HSBC has partnered with GambleAware and GamCare, two charities that aim to reduce gambling harm and ensure that players are gambling responsibly. GamCare has recently worked with some of the UK’s biggest gambling operators to assist in the new safer gambling initiative. This initiative will educate young and problem gamblers to help with gambling problems.
HSBC cannot guarantee that every single type of gambling transaction will be blocked, so there is still an element of self control required. However, stopping gambling spend at the source is an excellent way to reduce the potential harm it could cause, financial or emotional.
This kind of financial self-exclusion is is not the only way to prevent yourself from gambling. OnlineBingo has guides informing concerned gamblers how to keep track of time whilst gambling or how to take a break from gambling.