Finance & Economics

The first UK bank launches gambling card freeze

Halifax bank launches a feature to protect its users from gambling-related harm

Halifax

The first UK bank launches gambling card freeze. Source: flickr.com

Halifax becomes the first bank in the UK, allowing customers to apply the gambling freeze to any of their debit and credit cards. In addition to that, users can undo it, the only thing is, they must wait 48 hours, to ‘defrost’ the card.

The gambling card freeze feature was developed in recognition of how the bank can support customers to manage their money and gamble responsibly.

We know that people who gamble a higher proportion of their income are more likely to face financial pressure – so we’ve introduced the freeze tool to help them manage that. Importantly, by also introducing a defrost period we’re helping to protect those who might otherwise make an impulsive return to gamblingrn
Elyn Corfield, Managing Director, Consumer Finance

The bank provides additional training to a customer, facing colleagues with the branch network and telephony services, sharing further support information for customers online. Halifax is collaborating with Warwick University as well, analyzing the impact of gambling-related harm. They are going to share the results with the Gambling Commission and other external organizations in the coming months.

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