The online lender has joined with researchers and charities by writing an open letter to sports minister Nigel Huddleston, who is currently leading a review of the 2005 Gambling Act.
In the letter, Monzo asked for all banks and other account providers to offer tools that allow customers to bar themselves from making any gambling transactions on a debit card. The online lender also wants gambling companies to have their own bank account details stored on a central registry.
“We believe the Government should take the opportunity afforded by the Gambling Act review to make sure every consumer in the UK can access these blocks - regardless of who they bank with,” the letter read.
“These tools are simple to build, proven to work, and will help protect hundreds of thousands of people.”
Monzo said over 275,000 of its customers are using the gambling block it installed in 2018, and that more than 90% of people keep it on, but raised concerns that 40% of UK current accounts do not have such a block.
The letter continued: “The Government will also need to take steps to future proof these tools, and address new developments in the online gambling market to make sure such comprehensive payment blockers and harm reduction measures work today, next year, and in the decades to come.”
