Aussie Bank Says No Gambling On Credit Cards

Aussie Bank Says No Gambling On Credit CardsAustralia is coming down hard on the gambling industry in an attempt to protect the country’s players; in many instances mainly from themselves and their own irresponsible behaviour. Unfortunately, this is oftentimes to the detriment of responsible players whose options across the gaming and Lottery playing field are becoming more and more restricted. The latest institution to have added its voice to the choir is financial services and credit institution Macquarie.

The institution has issued a statement confirming that it will no longer permit its credit cards to be used for any gambling or Lottery products. Macquarie has insisted that the action is part of an in-house customer service decision. Many suspect that the truth is that Macquarie, along with many other institutions, has buckled under the covert pressure applied by the Australian government. Fortunately for players, alternative payment methods do exist, but it remains worrying that more and more local companies appear to be affecting major restrictions in terms of gambling and betting policies.

Better Service Or Cunning Ploy?

Australia has been, and currently still is, implementing a number of significant changes to what it does and does not permit with regards to its local gambling industry. Major restrictions have been applied to especially the advertising industry and gambling related advertising is heavily monitored and restricted in terms of content, times, etc. Casinos are now required to report on more player-specific activities than ever before. Self-exclusion policies are constantly being tightened and implemented country-wide.

The bank has implemented the changes to its credit card policies as part of a big bundle of changes, including lower transactional costs, no costs when making use of its credit cards outside of Australia’s borders and selected interest-free promotional periods. But inside information suggests that much of what is being implemented is a smoke-screen in order to come down hard on gambling spend and that local government policies are behind many of the changes; not more effective customer service policies, as is being proclaimed far and wide by the bank.

There Will Be Some Exceptions

There will however be related transactions that will not be blocked by the bank. Examples of these are purchases of for example food and drink at local casinos, Lottery tickets purchased from general news agents, etc. The bank has said that despite the fact that it will not be in a position to block selected transactions, clients will remain responsible for the costs associated with these transactions.