Over the last two years, several UK banks - including Barclays, Lloyds Banking Group, NatWest, Monzo and Starling - have introduced 'gambling blocks', which let customers prevent spending on a bank card at gambling outlets, both online and in-person.

However, with gambling still a major societal problem, GambleAware has been working with Bristol University's Personal Finance Research Centre to explore how else banks can help their vulnerable customers.

Researchers combed through transactional data on 1.5 million HSBC customers and 10,000 Monzo customers.

For those using Monzo’s gambling blocker, the week before gamblers activated the block, their average daily gambling spend tripled. Gamblers also have less money on average in their Monzo internal saving pots than non-gamblers.

Gamblers ranked ‘Very Concerning’ by HSBC had on average 35.6 gambling transactions per month, compared to 15.6 in those ranked ‘Concerning’, and just 1.2 in the ‘Control’ group.

The new practical guide for banks offers real-life examples of what firms can do to identify and support customers who are at risk of gambling-related financial harms. It highlights the value of financial firms proactively analysing customer transaction data for spending patterns and behavioural signs.

Professor Sharon Collard, research director, University of Bristol’s Personal Finance Research Centre, says: "At a conservative estimate, at least five million people in Britain experience harmful gambling, either because of their own gambling or someone else’s.

"Regulated financial services firms are well-placed to address the financial harms linked to gambling-related vulnerability and our practical guide shows them how. Doing this may have knock-on benefits for other dimensions of gambling harm, such as people’s mental health."

Read the guide