Spike in use of gambling blocks to curb overspending amid income squeeze

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Online bank Monzo revealed that it has seen 50,000 of its customers utilise its gambling block tool for the first time over the past six months. Amid the cost of living crisis, we know that tools like our gambling block are more important than ever in providing customers with much needed support Natalie Ledward, Monzo's head of vulnerability, access & inclusion Other big banks have followed the lead of Monzo, which was the first UK bank to launch the block in June 2018, with the likes of Lloyds Bank, NatWest and Chase introducing similar features on their mobile apps. The data comes as London-listed gambling giants have seen their share prices shoot up in recent months, amid the deepening cost-of-living crisis and as the football World Cup kicked off. Monzo’s head of vulnerability, access and inclusion, Natalie Ledward, told the PA news agency: “Amid the cost-of-living crisis, we know that tools like our gambling block are more important than ever in providing customers with much needed support.