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.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Where to buy Nintendo Switch online before ChristmasCheck out the best retailers that have stock if you're looking to buy a Nintendo Switch ahead of Christmas!
Read more »
'At 15, I was urged to self-harm by strangers online'Alex says: 'An adult man portraying himself as a personal trainer preyed on my vulnerability and tricked me into undressing on camera and threatened to send the images to my friends and family'
Read more »
How delivery crisis is scuppering our Christmas shopping plans - Sarah Coles🗣 'This was meant to be another year of easy online Christmas shopping.'
Read more »
Tickets for Peter Kay's new dates go on sale - here's where to buyHow to get Peter Kay tickets today as new tour dates go on sale including Manchester date affiliate
Read more »
Renter's £3 trick to help reduce condensation on windowsA hack has been shared online - and it's gone down well
Read more »