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Barclays implements a 72-hour cool-off period on gambling deposits

By Gavin Dank - Contributor
2 weeks ago

One of the biggest banks in the UK – Barclays – is working on adding a cooling-off period for its customers who elect to switch off their gambling-related transactions. This new feature will be introduced in the upcoming weeks. Its function will make customers wait for at least 72 hours before they can resume gambling payments.

Barclays is the first UK high-street bank to introduce such a long period of reconsideration. If the customer tries to make any gaming transactions during the cooling-off period, the payments will be rejected automatically. According to the bank, the decision was made after listening to feedback from customers, who revealed the positive impact of such a delay.

Anna Hemmings, Chief Executive of GamCare, said: “The ability to block gambling transactions through your bank card or app is incredibly helpful to those struggling to control their gambling, and is ideally used together with other practical tools such as self-exclusion, blocking software, and specialist support and treatment around the issue.”

Barclays already offers a whole plethora of money management features for those who enjoy gambling, including setting spending limits, temporary suspension of the customer’s card, and cash withdrawal limits.