NatWest implements 48-hour cooling-off period for gambling transactions
UK bank follows Barclays in responsible spending initiative as Ireland’s Ulster Bank follows suit
NatWest has become the latest bank to introduce a gambling transaction block for its customers.
NatWest debit card users will be able to turn on a gambling block via their mobile banking app which will implement a 48-hour cooling off period during which they cannot make any gambling-related transactions.
However, customers can manually turn the block off during the 48-hour period if they choose to do so.
NatWest becomes the second UK high street bank to introduce the cooling-off feature, after Barclays put a 72-hour period in place back in September.
David Lindberg, NatWest retail CEO, said: “The introduction of a gambling block for debit card customers will help us to equip problem gamblers across the UK with more tools to support their recovery.”
Elsewhere, over the Irish Sea, Ulster Bank has put a similar scheme in place to help customers control their spending via debit card.
The group’s card payment controls allow customers to put a stop to transactions such as subscriptions, contactless payments and gambling, and has been in place on its credit cards since last year.
Similarly to NatWest and Barclays, gambling transactions are limited by a 48-hour cooling off period which can be managed via the bank’s mobile app.
Lisa Slattery, Ulster Bank head of everyday banking, said: “Card payment controls give our customers greater choice when it comes to using their Ulster Bank debit cards, enabling them to select what types of transactions they are most comfortable with.
“Not only is it convenient, it can offer customers greater peace of mind should their bank card fall into the wrong hands,” she added.