In a significant move to bolster safer gambling measures, the Irish Banking and Payments Federation (IBPF), in collaboration with its member banks, has launched a new self-exclusion initiative for customers in Ireland.
This new tool will allow individuals to block gambling transactions on their debit and credit cards, providing a crucial layer of protection for those looking to control their spending or self-exclude from gambling.
The initiative, developed in partnership with the Gambling Awareness Trust, gives bank customers the ability to request a block on all gambling-related transactions made with their cards.
While the specific process may vary between different Irish banks, the core function remains the same: to empower individuals with a practical and effective tool to prevent gambling harm.
The new measure by the Irish Banking and Payments Federation has been widely welcomed as a positive and proactive step by the banking industry to support vulnerable customers.
This development comes shortly after the Gambling Regulatory Authority of Ireland (GRAI) released a report highlighting significant gaps in the country’s support infrastructure for those affected by gambling addiction.
The report called for more systemic and coordinated efforts to tackle gambling-related harm. This new bank-level self-exclusion tool is seen as a direct and tangible response to the need for more accessible and effective harm-prevention measures.
Sharon Donnery, Deputy Governor of the Central Bank of Ireland, commented on the importance of protecting vulnerable consumers.
Protecting vulnerable consumers is a key priority for the Central Bank. I have spoken before about the role that firms can play in supporting their customers’ financial wellbeing. We know that gambling addiction can have a devastating impact on people’s lives.
Donnery also praised the industry’s collaborative effort in launching this important initiative.
This is a positive initiative from the banking industry to support customers who wish to be protected from gambling expenditure. It is a welcome example of the banking industry listening to the needs of its customers and taking practical steps to support them in managing their money.
