Online bank Monzo revealed that it has seen 50,000 of its customers utilise its gambling block tool for the first time over the past six months.
Once switched on, customers can only deactivate the block by contacting the customer support team and then waiting 48 hours to disable it in the app. This is done to prevent people from acting compulsively.
Online gambling has moved at a dizzying pace into the online era - with casinos and betting shops replaced by smartphones and apps.Financial Crisis: ExplainedCharities have highlighted a rise in harmful gambling in line with cost of living pressures worsening in the UK. GambleAware recently said it had serious concerns that people, particularly women, expect to gamble more in the coming months in an attempt to supplement their household income., the run-up to Christmas, and the football World Cup pushing more people to resort to betting to cope.Other big banks have followed Monzo's lead, with the likes of Lloyds Bank, NatWest and Chase introducing similar features on their mobile apps.
Last month, Lloyds Bank also introduced personalised gambling spend limits for its customers, which it said was the first of its kind for a UK high-street bank.
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