Australian Bank Macquarie has banned gambling with credit cards. It has become the first major Australian Bank to do so.
Starting from Monday, all credit card transactions which are registered under a gambling and lottery merchant code will be blocked.
The bank said that the new policy for credit card usage had been announced to protect the interests of customers. The decision by the Australian Bank could also put pressure on other major banks operating in the country under pressure to adopt a similar policy.
Ben Perham, Macquaries head of personal banking, said that the move to block credit card payments for gambling is to save customers from unwanted and problematic gambling debts.
The blocking of transactions th…
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