HSBC Extends Gambling Cooling Off Period to 72 Hours
When asked the reason behind this update, HSBC pressed on the British Gambling Commission’s October 2020 data, wanting to ensure its bankers could manage their betting accounts responsibly.
HSBC has extended its gambling cooling off period to 72 hours, further enhancing the impact of the bank’s transaction blocking tool.
When asked the reason behind this update, HSBC pressed on the British Gambling Commission’s October 2020 data, wanting to ensure its bankers could manage their betting accounts responsibly. With more and more people working from home, HSBC belived more gambling problems were likely to be formed. This, paired with the financial hardship many UK citizens are facing, could have a severe impact on problem gambling rates.
“This is a challenging time for many of our customers, with some not working and perhaps facing financial difficulty,” Maxine Pritchard, head of financial inclusion and vulnerability at HSBC UK, said.
“By increasing the restriction to 72 hours, this will help give our customers time to pause when they are tempted to return to gambling.
“We are always looking for new ways to support our customers and make it easier for them to manage their finances,” Pritchard explained.
“Customer feedback on our gambling control showed us there was more we could do to help and we’ve worked closely with them and with GamCare to design the solution.”
