Written by
Matthew Parish, Product Manager, TrueLayer and
Albert Cabre Juan, Open Banking Lead, Monzo
Monzo was the first bank to introduce a Gambling Block in 2018, following demand from customers who wanted help controlling their gambling addictions. Over 275,000 Monzo customers have chosen to activate the Monzo Gambling Block and less than 10% have ever switched it off permanently.The Gambling Block is a completely optional tool that blocks card payments to gambling firms. Customers can apply to their Monzo account themselves in the app or by speaking to a member of Monzo’s customer services team.But with more and more gambling providers switching to convenient, open banking powered payments, Monzo and TrueLayer have teamed up to offer the same protections for customers using these new payment methods to gamble. This pilot means that Monzo customers will be able to benefit from an extended gambling block that prevents card transactions and open banking powered payments to operators supported by TrueLayer.We believe that banks like Monzo and open banking providers like TrueLayer have an important role to play in offering customers greater control over how they spend their money.
Matthew Parish, Product Manager, TrueLayer and
Albert Cabre Juan, Open Banking Lead, Monzo
Monzo was the first bank to introduce a Gambling Block in 2018, following demand from customers who wanted help controlling their gambling addictions. Over 275,000 Monzo customers have chosen to activate the Monzo Gambling Block and less than 10% have ever switched it off permanently.The Gambling Block is a completely optional tool that blocks card payments to gambling firms. Customers can apply to their Monzo account themselves in the app or by speaking to a member of Monzo’s customer services team.But with more and more gambling providers switching to convenient, open banking powered payments, Monzo and TrueLayer have teamed up to offer the same protections for customers using these new payment methods to gamble. This pilot means that Monzo customers will be able to benefit from an extended gambling block that prevents card transactions and open banking powered payments to operators supported by TrueLayer.We believe that banks like Monzo and open banking providers like TrueLayer have an important role to play in offering customers greater control over how they spend their money.