GamCare told me about the NS&I direct saver account and it works very well. Once your money is in the NS&I direct saver account it can be withdrawn anytime but won't arrive to your current account until the next business day, this stops acting on impulsive decisions without thinking first. You can pay money into your account anytime on their website with a debit card or by bank transfer. The only way to access the money is by transferring it back to your bank account.
If you also have an online only bank account (Starling or Monzo etc) it stops over the counter branch withdrawas. Then destroy the bank debit card but have it linked to Google pay so you can pay for everything with your phone but can't make cash withdrawals. Also activate the ban gambling transactions option with the bank as well. It might just stop the betting shops get their grubby hands on some more cash. I know everyone is different but it works well for me. I find the more difficult it is to gamble the easier it is not to do it.
Good post and a great idea.
I used to use premium bonds to put money into (same principal with NS&I - takes a few days to get your money) but now that I have maxed the investment, have opened a direct saver account as well
It's a safety net knowing that the money is there but I can't access it straight away.
Hi.
I never knew about the ban gambling transaction.
How does that work as i mainly do online gambling as i cant get out much.
Good luck
Hi, most banks allow you to put a block on your debit card so that it can't be used for gambling transactions. Once the block is activated you can deactivate it but have to wait for 48 hours before it can be used for gambling transactions again. It works well.
Check with your bank. If you have internet banking or a mobile banking app have a look for the gambling block option or search the help section / FAQs for gambling block. If you have trouble finding it or want me to look let me know which bank you're with and I can check their website and let you know.
Also sign up for GamStop, it will self exclude you from all legitimate online casinos at once. Once you've signed up you can't gamble online again. If somehow you do manage to sign up and gamble on any of the casino websites they will not pay out if you win, they'll just return the money you deposited before you won and cancel any winnings. If you lose they won't say anything and keep the money!
All the best
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