HSBC Introduces Self-exclusion Tool for Gambling Transactions

HSBC has introduced a new measure intended to help problem gamblers. The bank will offer its UK customers the option to self-exclude from all gambling transactions, a restriction that can only be reversed after a 24-hour cooling-off period.

The scheme is designed in partnership with the charities GamCare and GambleAware. The bank said the move was a response to concerns expressed by its customers about the impact that betting is having on their finances.

It has trained staff to respond to the calls with the help of GamCare and will also analyse data on card spending to see who might benefit from advice.

Dr. Heather Wardle, an assistant professor and gambling behaviour researcher at the London School of Hygiene and Tropical Medicine, said: “The financial sector is a key enabler of the gambling industry – without them online gambling couldn’t exist. So it’s right that banks and other financial institutions take the protection of people from gambling harms seriously.”