Nationwide announces UK banking 'first' with some accounts blocked for 72 hours
Nationwide is the first UK bank to offer a 72-hour account blocking option to help customers manage gambling habits.Summary
Nationwide has introduced a new feature allowing customers to block their accounts for 72 hours as a “cooling off” period to address rising gambling issues. The bank is also the first financial services firm to join the Gambling Harms Action Lab, collaborating with the Money and Mental Health Policy Institute to enhance support for customers. Kathryn Townsend, Nationwide’s Head of Customer Vulnerability, highlighted that many individuals hesitate to seek help with gambling problems, emphasizing the need for non-judgmental support. Data reveals a significant gender disparity in gambling losses, with men losing, on average, more than women. The initiative aims to provide better tools and support, building on existing progress like Nationwide’s gambling block and partnership with GamCare, and leveraging the expertise of those with lived experience.
(Source：Birmingham Live)