Yet hasn’t the government just done that to the Gambling Industry, by penalizing the people who can afford to use the FOBT’s from the excesses of the few…
Nothing is going to stop people walking into a casino and spending on games such as roulette etc which are all cash based…
This makes me wonder if the future of banking lies in it’s knowing what product or service you are buying. Imagine a recovering alcoholic trying to purchase alcohol in a pub/shop. If your bank knows what product you are trying to buy and it has anything to do with alcohol for example, your bank can decline it until you remove it from your basket.
Privacy vs recovery 
Which is fine if it’s opt in in my opinion.
Your bank should NOT be telling you what you can and cant spend YOUR money on, unless you specifically and unconditionally exclude yourself from buying products…
And how would a bank know whats in your basket in a shop, where you could have alchohol, cigs, scratchcards and milk and eggs??
That for me would be a scary world where your bank can interrogate your shopping basket.
They’re proposing a reduction in the cash limit for this very purpose. Won’t stop it but would restrict the financial damage it could do
Your bank already has access to some of the most sensitive data you have - your transaction data. Which you trust them to look after. It’s pretty obvious that at some point, we’ll have access to item level data.
No one’s suggesting that your bank should tell you what you can spend your money on.
Scary yes, but imagine how it can support people that are in recovery and want to self exclude from gambling on the high street, which I think is harder to do than online, restrict sale of tobacco/alcohol and any other product. Banks would know based on the barcode and retailer.
I wouldn’t say the bank would tell you what you can and can’t do, this would require voluntary permission from the customer, or a court order.
This would require a completely cashless society, which to be honest isn’t that far away in my opinion. I have 76p in change and I hate having cash. I tried to get rid of the 76p at Starbucks but the barista couldn’t work out how to take part change part card. 
This is brilliant, and exactly what a bank being different should be doing!
(this post isn’t aimed directly as a reply, just ended up with me ramble, sorry!)
I see great scope from this in longer scale.
The code sent through from a transaction at any retailer, in future could be adapted if initiatives like this take place. Instead of having to send through actual item details, it could just have a code for if the basket contains a product in certain categories e.g drink, cigs etc.
It would be closet compromise to giving your bank full access to see your items and a way to flag if anyone at risk is putting themselves in hard.
I think this is where we need to take a step back and think about if this should be taken out of the privacy “row” if its a type of action that impacts lifes (and potentially costs lives).
If you had an elderly relative, and a system was put in place at the their house due to opting in for their best interest to monitor for falls, alarm triggers etc. Would this be privacy invasion? How does this differ from someone having a “mental illness” (which addiction is, no one would choose any actions to directly negative affect their life, if it wasn’t) where due to society being accepting of addictive items (Bookies, cigs, and booze)
I would gladly offer my “data” or opt in to anything which may offer me some protection from the things which I know would otherwise directly cause me stress, anxiety and a negative end result in my life.
I am really looking forward to having a way to lower the amount of physical cash I can take from my monzo account, as ive thought about this lots, I really have no situations (other than barbers where I would ever need cash to pay.)
Car park ticket machines? Fruit & veg stall at the local market? Tolls? Charity? The arcades at the beach?
Regarding charity, my employer has a generous gift-matching scheme were if I donate through them, they’ll match it. So I never donate directly to a charity anymore. Even less reason for me to carry cash.
Most car parks have mobile text and apps, the market near most carry card readers now, arcades often seen as trigger for gamblers or the addictive traits. I wouldn’t be surprised if lots of charity shops take cards, easier to claim the gift aid !
Cashless society is well on its way. I can’t wait personally 
Sir, I wholly agree.
No need to apologise, as its good to understand both sides.
I agree if people opt in and seek help, then everything should be done to help and assist them, mental illness is a serious and often misunderstood problem, and addiction can be life changing illness. The issue is that it is still a taboo subject and we need to people to be able to talk about these things out in the open and not be afraid of stigma. This is a different topic but important one.
I cant remember the last time i had to pay cash for something, usually its one of the sandwich guys at work who doesnt take cards or car parking near work.
Even the buses here in Sheffield take contactless payments and they make a big play of it, car parking in some Peak District villages is now card enabled with the terminals in the machines.
So i totally agree about the cashless society is nearly here for some of us, however some people like the elderly dont trust plastic or technology for their money, however i have also seen the opposite.
This is absolutely great, and Monzo should be proud! I’d extend the blocking feature to other areas too to help give people with a wide array of addictions help - alcohol, fast food etc.
I wouldn’t read into it too much, he’s looking from outside in.
A lot of people don’t realise the placement of most book makers being purely in lower income areas Vs casino often in nightlife spots.
Fobt are hard to grasp on the sheer ease of loosing a £1000 in minutes. £50 spin etc.
You either have an addictive personality or you struggle to get it.
Most can socially drink with ease, the few form habbit quickly etc.
I work in the Gambling Industry I will admit.
Agree a lot of betting shops are in surburban areas sometimes 2 or 3 in the same area but that is down to local councils and licensing rules.
I have seen people put £20 notes into FOBT’s and policies are in place in shops already to try and identify problem gamblers, but most people don’t admit to being addicted as we discussed earlier. So it makes it difficult and punters move onto other shops to gamble…
Monzo need to work with regulators, Bookies and other gambling outlets and help come up with a solution as I keep saying.
Gambling is just one addiction that needs a solution, Alcohol and Substance abuse are the others.
@JoelJackson88 hope the rehab works and you manage to overcome your addiction
Is Monzo compatible with Google pay/apple pay?
Since I found out that Monzo are rolling out this blocking feature, I really do think it can form a huge barrier for me personally with the struggles I’ve had with gambling and prevent me from relapsing during stressful periods of my life.
I’ve figured that at least for the foreseeable, providing I can make Contactless payments via an app on my phone with Monzo, then I could snap my card up, thus making it harder to get physical cash especially as Monzo aren’t a high street bank so I couldn’t use my ID either.
Then I could solely use my phone to make Contactless payments, there will of course be times where I need cash but we are effectively all walking cash machines with apps like pingit so i can always transfer money to friends or family to get cash from them directly which ive done many times.
This may seem a bit extreme but thinking about it since yesterday, I do believe it can work for me alongside the block on gambling transactions. I’ve been able to self ban online but the high street bookmakers are my undoing.
If anyone has an opinion on this idea or foresee any pitfalls please feel free to reply
Yes to both Google and Apple Pay
My concern with ditching the card is what happens if you break your phone or need to pay more than the contactless limit? Is there a trusted friend or relative you could ask to keep the card in case of emergencies?
What @Rat_au_van said.
A trusted friend or family member would be the most ideal person to entrust your payment card to. I wouldn’t recommend ditching the card.
While I don’t have a gambling problem, I am weak in that if I keep gambling then I’ll develop it. So I have self-excluded from virtually every online gambling site there is.
I should think bookmakers can exclude you if you request to do so, I might be wrong but is this worth looking into?
Either way, from what Monzo is working on, it sounds like they may be able to give you the option to block card payments at the bookmakers too.
Good point! I would have people I could ask to do that, and that would be wise