Nationwide Issues £745 Gambling Warning and Will Block Customer Accounts
Nationwide Building Society has issued a stark warning about gambling after revealing that customers spend an average of £745 per month on such transactions. The financial institution, which operates branches in Birmingham, disclosed that gambling transactions have increased by 7% year on year, highlighting a growing concern.
Alarming Statistics and Support Needs
According to Nationwide, charity GamCare reported 105,765 contacts from individuals seeking support for gambling issues last year. New research adds to the worry, showing that 68% of gamblers plan to bet more in 2026. Additionally, nearly one in five gamblers, or 19%, are unaware that banks and building societies offer gambling blocks on accounts, indicating a gap in awareness.
Enhanced Controls and Cooling-Off Periods
Nationwide introduced enhanced controls in 2024, including self-set gambling blocks and training for frontline staff. Data shows that more than 10,000 gambling blocks are applied each month. Among those aware of these blocks, half, or 50%, have used one, and 56% reported that it prevented them from gambling further.
Kathryn Townsend, Head of Customer Vulnerability for Nationwide, emphasized the importance of early identification and strong safeguards. She stated, “With a year of major sporting events ahead, we’re concerned that more people could find themselves gambling more than they can afford. That’s why early identification and strong safeguards matter.” Nationwide has implemented a 72-hour cooling-off period for its gambling block to provide an additional layer of protection.
Expert Insights on Gambling Harm
Raminta Diliso, Senior Partnerships Manager for GamCare, highlighted the hidden nature of gambling harm and its significant impacts. She said, “Gambling harm is often a very hidden issue but the problems it can cause people can be significant. Financial difficulties, mental health struggles and relationship challenges are all common impacts.” With big sporting events like the World Cup potentially triggering gambling, she advised activating blocks and contacting GamCare’s National Gambling Helpline for free support.
Nationwide’s proactive measures aim to help customers stay in control and seek assistance without judgment, reinforcing the message that no one should face gambling harm alone.
