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NAB has announced that customers with NAB Visa credit or NAB Visa debit cards can restrict most gambling transactions.
Customers need to have the latest version of the app to be able to access the feature.
It blocks most gambling transactions, including sports betting, casino games, lottery tickets and online gambling.
The restriction can be removed via the NAB app or by calling NAB customer support. However, there will be a delayed reactivation of 48 hours, during which time the request to reactivate can be cancelled.
The gambling block capability was first implemented via iOS devices in December 2019 and has now been expanded to Android devices.
NAB also claimed that it is the only major bank to offer a restriction option on debit cards.
NAB chief customer experience officer Rachel Slade said more than 10,000 customers had turned on the restriction since the rollout in December last year.
She quoted the annual Australian Gambling Statistics report from December 2019, which revealed that more than $25 billion of gambling expenditure in 2017-18, with this figure rising by around 5 per cent on the year prior.
“It’s very easy to place a bet, so there’s real value in giving people the option to plan ahead and control their spending,” Ms Slade said.
In March 2019, NAB first rolled out a gambling restriction service, which gave customers the option to call NAB customer support to block most gambling transactions.
The Australian Banking Association (ABA) recently released a discussion paper on the use of credit cards for gambling and the role of banks in addressing problem gambling. The ABA is currently seeking public feedback.
The bank also noted that Australians continue to face budgeting challenges, with the NAB Australian Wellbeing Survey released Wednesday revealing rising financial anxiety and that one in four Australians is experiencing some form of financial stress or hardship over the past three months.
[Related: NAB earnings withstand lending slump]