Gambling problem support charity GamCare says a potential block on gambling transactions made through business accounts should be a top priority for the business banking sector.
Included as part of four recommendations to banks to improve the gambling experience for players, it said that while gambling transactions are a “personal expense,” only “a small number” of bank account providers such as Tide, Monzo, Santander and NatWest currently offer an opt-in gambling block at a customer’s request.
“Firms should assess the risks of allowing gambling transactions on business accounts and should consider blocking gambling transactions as standard (the same way it has been done for credit cards and under-18 bank accounts),” GamCare said.
Banks allowing gambling transactions on business accounts should “use transactional data to spot harmful gambling on client accounts (e.g. looking out for repetitive and escalating gambling spend or gambling across multiple gambling operators) and flag these accounts for further intervention,” the charity added, noting that while some retail banks are checking for “unaffordable gambling,” this is “not being done” in the business banking sector.
This recommendation comes as the UK Gambling Commission prepares to roll out a pilot of light-touch affordability checks in partnership with banks.
Thirdly, GamCare said banks should “communicate to business customers about gambling harm in a sensitive, non-judgemental and supportive manner.”
“Firms should normalise conversations about gambling harm in the business banking sector to help break the stigma about the topic and provide resources and education about the risk of gambling harm tailored to business customers, e.g. through websites, banking apps, direct customer communications.
“Firms should work in collaboration with the gambling support sector and people with lived experience to develop these processes and interventions.”
The charity furthermore wants banks to raise awareness and train staff on spotting and intervening on problem gambling.
“Banks providing business accounts should use the wide range of data they have to better understand the scale of gambling harm across business bank accounts, and analyse how best to foresee and prevent gambling related financial harm,” it said.
“They should ensure that the staff are trained to recognise gambling harm and bank managers are confident to discuss gambling transactions on the account, and can signpost clients to gambling support if necessary.”