ACCOUNTHOLDERS AT BANK of Ireland can now voluntarily block transactions with gambling operators.

Existing ‘exclusion’ legislation blocks people who believe they have problem gambling habits on request for a period of 90-days, but the voluntary block on bank accounts can be implemented indefinitely.

Customers with personal and business accounts at Bank Of Ireland can now request that transactions with registered gambling operators using their debit cards be blocked. The move from the bank is notable as there is no legislation mandating that they do so.

Following research conducted by the bank throughout the first quarter of this year, 90% of gambling transactions took place online and 99% of all bets were funded through debit cards.

Chief Customer Officer Áine McCleary said the initiative is designed to help customers take steps towards improving their control of their finances, in line with the bank’s financial wellbeing goals for its accountholders.

GamblingCare.ie’s Oisín McConville has welcomed the measure, which he said will make up one of a range of support that will be offered to people with problem gambling habits and prevent the issue from becoming overwhelming.

New regulations around gambling will ban the use of credit cards, outlaw day-time advertising and have created a new authority to issue licences to operators.

Bank Of Ireland said today that it will move to introduce similar prevention measures on credit card transactions, which problem gambling experts deem extremely dangerous as often it results in people betting more money than they can afford.

However, The Journal has previously revealed that there is no timeline for the activation of these laws.