Monzo. The so-called challenger bank is a mobile-only version of a traditional bank.
Once the block is activated by the customer, it can spot any transaction that person might try to make with bookmakers - either online or in a shop - by using merchant category codes. It instantly stops the transaction from happening, before any money has left that customer's account.
If a customer is tempted to place a bet in the heat of the moment, there is a 48-hour cooling-off period before the block is switched off. There is also a daily limit on cash withdrawals.
Monzo CEO Tom Blomfield says the block was introduced because customers asked for it.
"We have a team of people who work with vulnerable customers and they were getting this feedback quite often" he says.
More than 25,000 customers have signed up to the bank's block since it went live in June.
GAMCARE - please offer people REAL solutions with REAL substance, not a phone call and no virtual hugs because these won't help the addicts to stop gambling!!!
FreeOfTroubles wrote:
GAMCARE - please offer people REAL solutions with REAL substance, not a phone call and no virtual hugs because these won't help the addicts to stop gambling!!!
Pity this comes accross like agressive spamming when it can be part of the solution.
Its great to have prevention methods like this, but it's only part of the solution.
It's probably the best solution so far for those that deposit on debit cards in shops, but gamstop prevents online full stop.
Just looked up monzo and u can get free cash withdrawells up to 200 pounds then theres a three percent charge after that, so u cant gamble online so u gamble in bookies if u do they get three percent of anything u take out after two hundred pounds , and it doesn't Sa whether theres a maximum u can take out a day so there could be a problem there. I just looked at the site for three seconds I may be wrong.
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K2 wrote:
[quote=FreeOfTroubles]
GAMCARE - please offer people REAL solutions with REAL substance, not a phone call and no virtual hugs because these won't help the addicts to stop gambling!!!
Pity this comes accross like agressive spamming when it can be part of the solution.
Its great to have prevention methods like this, but it's only part of the solution.
It's probably the best solution so far for those that deposit on debit cards in shops, but gamstop prevents online full stop.
I'd agree with you it can be part of the solution.
Same with Gamstop (which still has way too many holes in it to be fully effective) and many other blockers.
Keep working the solution.
tri
UCAN WITHDRAW 200 POUNDS A MONTH ONLY INTEREST FREE, THEN ITS A THREE PERCENT CHARGE FOR THE REST OF THE MONTH. ANYONE USING BOOKIES IS GOING TO GET CHARGED A LOT OF INTEREST. JUST SAYING IF U CAN SPEND LESS THAN 200 A MONTH AND NOT GO TO BOOKIES THEN MIGHT BE AN IDEA.
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Sorry for taking over ur threads just feel strongly about vulnerable people not getting taken advantage of with fees they don't need to pay, I wont post again, adam
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I think what you’re referring to adam123 is when used abroad. In the uk cash transactions and withdrawals are free.
Momzo has been promoted on this site by gamcare for some time now freeoftroubles it’s in the news section.
As for real solutions what are you suggesting they do?
​it says on the website the cash transactions on monzo have a three percent charge after u take out two hundred pounds in a month. Just saying this wont help me as ill go to a bookies lose two hundred pounds, take out another two hundred pounds lose that and so on doesn't actually Sa what the limit of withdrawing cash is just that it will charge u an extra three percent each time. I think the best option is to not have access to the full triangle ie cash, so hand over finances to a loved one or friend. That's the only way to stop also by self excluding and using gamstop for online bookies and casinos, join every scheme possible then as a compulsive gambler u have a hope of having a secure future.
Welldone gem on almost 3000 days that's brilliant!!!!
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Hi Adam
As I said there’s no limit inside the uk , you can withdraw upto 400 pounds per day.
The charge of 3 percent is if you’re abroad the first 200 is free and the remaining money taken out over the course of the month whilst abroad is 3 percent.
Hope that helps
And thank you adam123
Oh ok brilliant that's not bad for abroad. Ok
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