UK high street bank Barclays now offers customers the ability to ‘switch off’ certain types of spending on their debit card. The service, which launched in December, is intended to help customers stop problematic spending such as that on gambling or premium rate phone lines, but can also cover spending at pubs, grocery stores
Neat idea. And Barclays
Whose side are you on? The most surprising aspect of this example? No one expects a bank to encourage people to stop using their services! Instead, legacy banks have a well-deserved reputation for pushing loans to customers who are spending more than they can afford. Now we see Barclays taking a small step towards redemption on that front. So
Expectation avalanche. If you’re a regular reader, you already know what’s coming. New innovations and brands fuel new customer expectations, that other (often legacy) businesses must respond to. Check this out: back in June UK startup bank Monzo launched a feature that allows users to block gambling transactions from their account.