Bank Australia to ban use of credit cards for gambling transactions from December 2020

imagesource:gamblinginsider
imagesource:gamblinginsider

Bank Australia recently announced that it will not extend its services of credit card transactions to paying for gambling and gaming expenses.

The Bank stated that these sin activities should be limited and should not lead to problem gambling.

Bank Australia said, “Effective from 1 December 2020 we are blocking all gambling and gaming transactions on credit cards”, reported Gambling Insider.

While the customers who were disappointed at such decision expressed their pleasure and questioned the right of the Bank to control which services should the customers pay for.

Chief Executive of the Australasian Association of Convenience Stores Jeff Rogut said, “I don’t think the companies that are offering the service should decide where consumers are spending their money.” 

Bank Australia further stated that, “We’ve engaged with our stakeholders and tested our position through research with customers, the overwhelming majority of whom support blocking gambling transactions on credit cards.”