Depending on your bank’s rules, you can either set a limit on the number of times you can gamble or turn off gambling transactions entirely. Banks that have strict gambling laws have these features, but they do not necessarily apply to all countries. The best way to block gambling transactions is to have nothing distract you while you’re trying to get what you want. Some banks even offer a cooling off period, so you can avoid gambling for a certain period of time.
You can also block your transactions by using the mobile apps that are available for your bank. The Halifax web app lets you block transactions from gambling websites, but it requires you to wait three days before you can turn it off again. Halifax’s app also offers a free 7-day trial of Gamban, a gambling-blocking app. The HSBC Pay by Bank app also lets you freeze your gambling activity for 72 hours.
The banking industry has responded to the emergence of gambling addiction by imposing a broader framework for dealing with it. As a result, banks now have a number of protective measures to limit the activities of people who gamble. The largest bank in the world, HSBC, for example, has a 72-hour cooling-off period for gambling payments and a restriction on blocking deposits to bookmakers. In addition, Barclays has released a mobile app that helps you set limits for your betting transactions, and the limits remain in effect for three days. Royal Bank of Scotland also offers a self-assessment tool to help customers determine whether they are gambling-free.
Some Australian banks have begun blocking gambling transactions. The Monzo bank is one of the newest online banks with this feature. You can only remove this restriction after contacting customer support. Meanwhile, Revolut has a gambling blocking feature that automatically blocks payments to gambling merchants. Unlike the Monzo bank, the Revolut banking app automatically blocks any gambling transactions if they are 85% or higher of your credit limit. It’s easy to enable these features.
However, it’s important to remember that gambling can be addictive if you let it control you. However, it is important to note that this only applies to those who allow themselves to be swayed by the rewards system of gambling. Compulsive gamblers might also have a strong belief that they can win millions in a short period of time. A bank’s decision to restrict gambling is a good first step in limiting your gambling activities.
When you apply for loans, any gambling activity will show up on your background check. However, it won’t negatively affect your chances of getting a loan. As long as you play within reasonable limits, there’s little to worry about. The US has no legislation governing offshore betting sites, so blocking them will only impact your gambling activities. Similarly, PayPal doesn’t allow online casino deposits or withdrawals. It’s easy to see why your bank might block online gambling.
