SEVERE WX : Flash Flood Watch - Flash Flood Warning View Alerts

Barclays app stops you spending on the wrong stuff

Barclays rolled out a new mobile banking feature on Tuesday that allows users to switch off categories of sp...

Posted: Dec 11, 2018 7:11 PM
Updated: Dec 11, 2018 7:11 PM

Barclays rolled out a new mobile banking feature on Tuesday that allows users to switch off categories of spending including drinking, eating out and gambling.

Customers can access the feature using a smartphone app. If they try to purchase restricted items, the payment will be declined.

Banking, finance and investments

Banking, lending and credit services

Business and industry sectors

Business, economy and trade

Debit cards

Electronic commerce

Online and home shopping

Retail and wholesale trade

Smart cards

Health and medical

Mental health

Banking institutions

Consumer banking

Amusements and gaming

Gambling

Leisure and lifestyle

Barclays PLC

Companies

Continents and regions

Europe

Northern Europe

United Kingdom

Online banking

Computer science and information technology

Mobile apps

Mobile technology

Software and applications

Technology

The bank said it designed the feature with mental health advisers to help vulnerable people manage their finances. It said beneficiaries might include people who struggle with addiction or mental health issues.

Barclays (BCS) is the first major UK bank to offer the tool. Some smaller online account providers, which are trying to steal market share from big lenders, already offer similar features.

The Money and Mental Health Policy Institute helped Barclays to identify problematic spending categories. The group's founder, Martin Lewis, said the new feature help prevent compulsive spending by adding "friction."

"Making something more difficult to do slows people down, and gives time to consider," he said. "This is important when you're dealing with impulse control."

Barclays will allow customers to switch off spending in five categories: groceries and supermarkets; restaurants, takeaways, pubs and bars; gas and diesel; gambling; and purchases made via premium-rate phone lines.

More than 8 million people in the United Kingdom suffer with "problem debt," which means they are unlikely to repay. One big factor is gambling, which can be done online or in physical stores.

"There are no limits to stakes and prizes for online gambling, and credit cards are allowed so it is important to make it easier for people to control their spending," said Marc Etches, chief executive of the charity GambleAware.

Some card providers offer UK customers the ability to block different kinds of spending, for example online purchases or taking money out of an ATM. However, those features are primarily seen as fraud prevention tools.

New York Coronavirus Cases

County data is updated nightly.

Cases: 2537823

Reported Deaths: 56270
CountyCasesDeaths
Kings33533010862
Queens31620210308
Suffolk2406933616
Nassau2150853300
Bronx2081546756
New York1687034643
Westchester1439382344
Erie1073581959
Richmond893051939
Monroe851201189
Orange57824920
Rockland53317779
Onondaga52624765
Dutchess35811500
Albany31130390
Oneida28916592
Broome24801409
Niagara24280398
Saratoga20545205
Ulster17373280
Schenectady16970229
Rensselaer15006170
Chautauqua12556175
Putnam1255098
Oswego11868115
Chemung11069158
St. Lawrence10742128
Steuben10304174
Ontario9467111
Jefferson903578
Cayuga8745107
Sullivan854183
Wayne830685
Cattaraugus7863118
Genesee7120132
Herkimer6890129
Clinton683740
Tompkins658059
Fulton6465104
Madison6288102
Montgomery6063143
Livingston581171
Warren559484
Cortland541380
Tioga519472
Columbia5053111
Chenango474688
Allegany471598
Washington471468
Otsego462655
Wyoming443458
Greene442587
Orleans441089
Franklin436422
Lewis365338
Delaware360348
Seneca276763
Essex237533
Schoharie233723
Yates167728
Schuyler155817
Hamilton4393
Unassigned14123
Out of NY0319
Utica
Cloudy
54° wxIcon
Hi: 54° Lo: 50°
Feels Like: 54°
Oneonta
Cloudy
49° wxIcon
Hi: 52° Lo: 47°
Feels Like: 43°
Herkimer
Cloudy
54° wxIcon
Hi: 55° Lo: 50°
Feels Like: 54°
Old Forge
Cloudy
54° wxIcon
Hi: 52° Lo: 48°
Feels Like: 54°
WKTV Radar
WKTV Temperatures
WKTV Severe Weather
Game Day Deals - New Deals Each Week
Chapter Aesthetic October Giveaway
Cool To Be Kind 2021
Looking for work or looking to hire? Check out the WKTV Job Fair!
Saluting Those Who Are Proud 2 Serve