Save
Gambling blocker added to banking app
One of Australia’s major banks is now providing its customers with the ability to block gambling transactions from their accounts.
Gambling blocker added to banking app
One of Australia’s major banks is now providing its customers with the ability to block gambling transactions from their accounts.
NAB has announced the option as a “new way” for customers to take greater control over their finances.
All retail banking customers with NAB Visa Credit or NAB Visa Debit cards can now restrict most gambling transactions with immediate effect through its banking app on both iOS and Android devices.
The new app feature will support Australians in controlling their financial future, according to the bank’s chief customer experience officer, Rachel Slade.
NAB’s introduction of the feature comes after a December report from Australian Gambling Statistics, which found that Australians spent more than $25 billion on gambling in the 2017-18 financial year – a 5 per cent increase on the previous year.
“It’s very easy to place a bet, so there’s real value in giving people the option to plan ahead and control their spending,” Ms Slade outlined.
She said the tool is designed to put the choice in the hands of customers, and highlighted how since commencing the rollout in December, the bank has seen “more than 10,000 customers turn on the restriction”.
While making it easier for customers to take greater control over their money, Ms Slade noted NAB’s recognition of problem gambling as remaining “a major challenge affecting the community, and one that requires organisations, governments and the community to work together to effectively address”.
About the author
About the author
Expenses
Insurance prices rise despite payout falls
The COVID-19 pandemic has seen insurer payouts fall by $500 million, but Australian consumers are continuing to pay more, the consumer watchdog has revealed. ...Read more
Expenses
CBA cops civil proceedings for overcharged interest
ASIC has commenced civil penalty proceedings in the Federal Court against the Commonwealth Bank over the bank charging an interest rate on business overdraft accounts that was substantially higher tha...Read more
Expenses
What are the top 10 most expensive cities in the world?
Logistical issues and currency fluctuations caused by the COVID-19 pandemic has seen the most expensive cities in the world drastically change, new research has revealed. ...Read more
Expenses
Sydney adviser pleads guilty to misappropriating $2.9m
A Sydney financial adviser has pleaded guilty to misappropriating $2.9 million in his clients’ funds. ...Read more
Expenses
Telstra set to refund 10,000 customers
Ten thousand past and present Telstra customers are entitled to a refund due to being overcharged a total of $2.5 million. ...Read more
Expenses
iSelect in hot water for energy plan comparisons
Comparison tool iSelect has been ordered to pay $8.5 million in penalties for making false and misleading representations about its electricity comparison service. ...Read more
Expenses
Pandemic puts stopper in big spending
Two-thirds of Australians have seen their finances impacted by COVID-19, according to new research – and it’s affecting everything from holidays to houses and careers. ...Read more
Expenses
The financial products giving Australians the most grief during COVID-19
The Australian Financial Complaints Authority (AFCA) has received 7,420 complaints about financial products since the onset of the pandemic. ...Read more
Expenses
Insurance prices rise despite payout falls
The COVID-19 pandemic has seen insurer payouts fall by $500 million, but Australian consumers are continuing to pay more, the consumer watchdog has revealed. ...Read more
Expenses
CBA cops civil proceedings for overcharged interest
ASIC has commenced civil penalty proceedings in the Federal Court against the Commonwealth Bank over the bank charging an interest rate on business overdraft accounts that was substantially higher tha...Read more
Expenses
What are the top 10 most expensive cities in the world?
Logistical issues and currency fluctuations caused by the COVID-19 pandemic has seen the most expensive cities in the world drastically change, new research has revealed. ...Read more
Expenses
Sydney adviser pleads guilty to misappropriating $2.9m
A Sydney financial adviser has pleaded guilty to misappropriating $2.9 million in his clients’ funds. ...Read more
Expenses
Telstra set to refund 10,000 customers
Ten thousand past and present Telstra customers are entitled to a refund due to being overcharged a total of $2.5 million. ...Read more
Expenses
iSelect in hot water for energy plan comparisons
Comparison tool iSelect has been ordered to pay $8.5 million in penalties for making false and misleading representations about its electricity comparison service. ...Read more
Expenses
Pandemic puts stopper in big spending
Two-thirds of Australians have seen their finances impacted by COVID-19, according to new research – and it’s affecting everything from holidays to houses and careers. ...Read more
Expenses
The financial products giving Australians the most grief during COVID-19
The Australian Financial Complaints Authority (AFCA) has received 7,420 complaints about financial products since the onset of the pandemic. ...Read more
More articles
Website Notifications
Get notifications in real-time for staying up to date with content that matters to you.
