Nationwide Building Society has announced a significant new measure to protect its members from gambling-related harm, particularly amid the ongoing cost of living crisis. The financial institution will enforce a mandatory 72-hour account freeze for customers who activate its gambling block feature, preventing any wagers for at least three full days after any attempt to disable it.
Comprehensive Protection During Vulnerable Times
This initiative comes in response to growing concerns that financial pressures are exacerbating gambling difficulties across the United Kingdom. Nationwide, which serves millions of members nationwide, aims to provide a robust safety net by implementing this cooling-off period. According to the building society, the 72-hour window is strategically designed to cover typical high-risk periods, such as sporting weekends, offering customers a critical buffer to reconsider their decisions.
Statements from Leadership
Kathryn Townsend, head of customer vulnerability at Nationwide, emphasized the non-judgmental support behind this policy. "People need to know support is available, without judgement, should they need it," she stated. "We made a conscious decision to offer a gambling block with a 72-hour cooling off period to support customers making decisions that are right for them."
Scope and Limitations of the Block
The gambling block is extensive, applying to card payments, online transactions, and physical purchases at gambling operators. It remains effective even when card details are saved on gambling websites and extends to digital wallet services like Apple Pay, Google Pay, and Samsung Pay. However, Nationwide has acknowledged certain limitations: it cannot prevent purchases of some scratch cards and lottery tickets, depending on individual shop till configurations, nor can it stop bank transfers, payments via internet banking, banking apps, open banking, or in-game purchases within video games.
Additional Recommendations for Customers
To maximize protection, Nationwide advises customers to cancel any existing recurring payments to gambling firms in conjunction with activating the block. This holistic approach underscores the building society's commitment to safeguarding member finances during economically challenging times, reinforcing its role in promoting responsible banking practices across the UK.
