Barclays to enable vulnerable customers with greater control

Barclays has launched a new feature for customers within its mobile banking app giving them the ability to ‘turn off’ spending with certain types of transaction.

Working with a range of advisors such as the Money Advice Trust and building on published evidence from organisations such as the Money and Mental Health Policy Institute, Barclays identified a group of customers who would particularly benefit from being able to decide how and where their money is spent. These include those with mental health issues, addictions, and those who rely on carers or a guardian to handle their finances.

A simple button within the Barclays mobile banking app now allows the customer to choose which types of retailers they are able to spend with, meaning any attempted payments that fall within the ‘turned off’ category will be automatically declined.

This follows on from other safety features introduced for Barclays debit cardholders over the past year, such as the ability to set a daily cash machine withdrawal limit and turning off the ability to make purchases online and via the phone.

Catherine McGrath, MD at Barclays said: “We are always looking for new ways to support our customers and make it easier for them to manage their finances. We work with a range of advisors and partners, as well as consulting with our customers, to identify how our customers’ needs are changing and what works for them.

Chris Fitch, vulnerability lead at the Money Advice Trust, said: “Technology that meets everyday banking needs while recognising the challenges many of us face in our lives, is the way forward. Giving everyone more control is the key to achieving this – whether this is someone who wants to be less vulnerable to fraud, or a customer who is trying to take charge of their gambling.”

The new feature is now available to all Barclays debit card customers and will be rolled out to credit card holders in the near future.

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