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The British banking brand Halifax has released a new feature across its mobile app to provide better protection to customers against gambling-related harm.
Halifax customers can now activate a ‘gambling card freeze’ on the Halifax mobile app, which blocks any gambling-related transactions on debit or credit card.
The banking brand is to also offer a “defrosting” period in case the customer wants to change their decision to block gambling transactions to and from their account. In order to do that, they would be required to wait 48 hours. This period is considered to be enough for customers to make up their mind and not make hasty decisions.
“We know that people who gamble a higher proportion of their income are more likely to face financial pressure – so we’ve introduced the freeze tool to help them manage that. Importantly, by also introducing a defrost period we’re helping to protect those who might otherwise make an impulsive return to gambling,” said ” Halifax managing director for consumer finance Elyn Corfield.
The company has joined the likes of Barclays, Lloyds, Santander, and RBS in implementing some measures aimed at protecting customers from the negative consequences that gambling could have on their finances, physical and mental health and even life.
