Monzo gambling block users approach quarter million mark
Just 8% of consumers to have activated the gambling blocking software have disabled it since
Nearly a quarter of a million UK-based Monzo users have signed up to use the payment disruptor’s gambling blocking software since it launched in 2018.
EGR understands 222,993 customers have activated the banking app’s gambling blocker to date, while just 8% of those have chosen to disable it again after activation.
The block allows consumers to cease transactions to bookmakers, both in-person and online, and also provides limits on cash withdrawals.
If a customer wants to disable the function after it has been activated, they must wait through a 48-hour cooling off period while speaking to someone in Monzo’s customer support team.
So far in 2020, an average of 2,314 people per week have turned Monzo’s gambling ad blocker on for the first time.
The highest number of blocking software sign-ups in any month came in August 2019, where 17,474 users triggered the block system due to increased press coverage of the tech at that time.
Gambling card freezes entered the mainstream in 2019 after heritage banking giants like HSBC and Halifax followed the likes of Monzo and Starling with their own gambling transaction blockers.