Barclays customers can now 'switch off' spending
Discussion
Barclays allows its customers to "switch off" certain types of spending on their debit cards.
Customers can do this through the app:
Purchases are blocked by distinct categories rather than specific retailers. The idea is to help help vulnerable customers, particularly problem gamblers, or those in serious debt.
https://www.bbc.co.uk/news/business-46512030
The thing is, will any of this actually help the exact audience it is intended for?
I also note the exclusion of this facility on their credit cards, according the article that will happen at some point in the future, but I remain skeptical. Surely it's in their [banks] best interests to have you spending/using the credit card as much as possible.
Have any Barclays customers here tried the feature yet?
Customers can do this through the app:
Purchases are blocked by distinct categories rather than specific retailers. The idea is to help help vulnerable customers, particularly problem gamblers, or those in serious debt.
https://www.bbc.co.uk/news/business-46512030
The thing is, will any of this actually help the exact audience it is intended for?
I also note the exclusion of this facility on their credit cards, according the article that will happen at some point in the future, but I remain skeptical. Surely it's in their [banks] best interests to have you spending/using the credit card as much as possible.
Have any Barclays customers here tried the feature yet?
jamest1988 said:
Interesting concept, Id be curious about what stops you just switching the spending back on in a moment of weakness, a 24hr waiting period maybe or something more concrete.
I hope the other banks take this on board and implement something similar soon.
Exactly, by all means it's a good a noble idea... just wondering if in the real world it will make a difference.I hope the other banks take this on board and implement something similar soon.
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