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Gambling blocker added to banking app

By Grace Ormsby · February 24 2020
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egg

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Gambling blocker added to banking app

By Grace Ormsby
February 24 2020
Reading:
egg
Gambling blocker added to banking app

Gambling blocker added to banking app

author image
By Grace Ormsby · February 24 2020
Reading:
egg
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.

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“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”.

Gambling blocker added to banking app
Gambling blocker added to banking app
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About the author

Grace is a journalist on Momentum Media's nestegg. She enjoys being able to provide easy to digest information and practical tips for Australians with regard to their wealth, as well as having a platform on which to engage leading experts and commentators and leverage their insight.

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About the author

Grace is a journalist on Momentum Media's nestegg. She enjoys being able to provide easy to digest information and practical tips for Australians with regard to their wealth, as well as having a platform on which to engage leading experts and commentators and leverage their insight.

Join The Nest Egg community

We Translate Complicated Financial Jargon Into Easy-To-Understand Information For Australians

Your email address will be shared with nestegg and subject to our Privacy Policy

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