Cashplus joins list of banks with gambling block
Challenger bank joins Barclays and Starling in offering functionality for customers
Online bank Cashplus has announced the launch of a new tool allowing its customers to switch off processing of gambling-related transactions made via credit card with one click.
The feature, which will be available to all web and mobile customers, also gives individuals the ability to block ATM withdrawals of funds which may be used for gambling.
The credit card blocking tool is available by request through Cashplus’ telephone service centre, with activation by the following day. The block will also take 24 hours to remove upon request.
It can be used for both personal and business credit cards, enabling business owners to prevent company credit cards being used for gambling by fraud or misuse.
Cashplus COO Paul Schooley said the launch of the new blocking functionality would enable the business to be part of the “wider discussion around credit and gambling”.
Cashplus currently has over 1.5 million customers in the UK.
Earlier this month, the UKGC launched a consultation into whether to institute a blanket ban on all forms of gambling on credit, with a view to introducing changes to licensing codes of practice later this year.
Starling Bank was the first UK bank to offer blocking functionality, launching its service in June 2018, while UK high street heavyweight Barclays unveiled a similar feature within its mobile banking app in December.