Bank of Ireland Cracks Down on Gambling: Voluntary Block and National Exclusion Register on the Horizon
Banking Institution in Ireland, Bank of Ireland, Imposes Restriction on Gambling for Account Holders
In a move to bolster player protection, Bank of Ireland has introduced a feature allowing customers to voluntarily block gambling transactions on their checking accounts [English link]. This initiative comes courtesy of cooperation between the Gambling Regulatory Authority of Ireland (GRAI), the Irish Banking Association, and the Independent Banking Culture Board.
Bank of Ireland's Voluntary Block on Gambling Transactions
The new blocking function, accessible through Bank of Ireland's online banking platform, prevents all transfers to online casinos and betting providers. No separate application is required—account holders can set up the block themselves, and it can be activated on a permanent or temporary basis. The block applies to both online transfers and card payments, as the bank identifies such transactions via payment codes associated with gambling providers.
The Road to a Nationwide Gambling Exclusion Register
In addition to the voluntary block on gambling transactions, GRAI is working on a comprehensive National Gambling Exclusion Register. Once operational, individuals will be able to opt out of all licensed online and land-based gambling platforms across the country. The register, currently under development, is expected to serve as a powerful tool in helping those with gambling addiction issues.
While a launch date for the National Gambling Exclusion Register has yet to be announced, the GRAI is actively developing its IT infrastructure to ensure its swift implementation. In the meantime, the authority has been engaging with banks and financial institutions to implement complementary measures, such as voluntary gambling blocks for customers, to bolster consumer protection.
Stay tuned for updates on this exciting and critical development in Irish gambling regulation.
The voluntary gambling block introduced by Bank of Ireland in their online banking platform aids in preventing all financial transactions to online casinos and betting providers, thereby providing an additional layer of personal-finance security for their customers.
The Gambling Regulatory Authority of Ireland (GRAI) is working towards establishing a National Gambling Exclusion Register, which, upon completion, will allow individuals to opt out of all licensed gambling platforms across the country, bringing possible reforms in the online casino industry and banking-and-insurance sectors.
