Monzo reveals rise in use of gambling self-exclusion tool

According to data from UK challenger bank Monzo, more and more customers are using the gaming block feature to self-exclude. Since their increased accessibility in 2023, 8% more customers have activated their gambling blocks, the firm disclosed in its internal data. Transactions of £9 million were prohibited in 2024 alone. An estimated £800k was paid out on average each month for gambling, a 20% increase over the £657k amount paid out in 2023.