Betting Features on any Banking or Financial apps should be Removed - page 4.

passwordnow

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Quote from: Wiwo on September 08, 2023, 07:23:16 PM

Quote from: passwordnow on September 08, 2023, 07:14:02 PM

It just goes against their main principle of helping people to save and to be more knowledgeable about finance. I mean yeah, we're gamblers and we advertise casinos but something like this shouldn't happen. They're the bank and should stay as is, and with the service they offer to the people. That's not the right platform to add as something that's permanent on their app. A background check for that bank must be made by its central bank if it's allowed or not.

After the discussion I checked my bank app to see that feature and try to use it, but I find out that, you can only found your betting account from the app and not being able to place a bet directly on those bank apps.

Well, that's too much if that banking app will allow you to place bets directly from them. They'll have to redirect their customers and users to the actual casino.

Quote from: Wiwo on September 08, 2023, 07:23:16 PM

I think, those bank are just serving as payment gateways for those casinos and that is still within the services of the bank so no one can really blame them for that.

They do but they shouldn't be there in the first place even if they're not allowing you to bet directly. But one thing is that, they're allowing you to deposit through them and likely partnered with that casino.

Wiwo

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Quote from: passwordnow on September 08, 2023, 07:14:02 PM

It just goes against their main principle of helping people to save and to be more knowledgeable about finance. I mean yeah, we're gamblers and we advertise casinos but something like this shouldn't happen. They're the bank and should stay as is, and with the service they offer to the people. That's not the right platform to add as something that's permanent on their app. A background check for that bank must be made by its central bank if it's allowed or not.

After the discussion I checked my bank app to see that feature and try to use it, but I find out that, you can only found your betting account from the app and not being able to place a bet directly on those bank apps.

I think, those bank are just serving as payment gateways for those casinos and that is still within the services of the bank so no one can really blame them for that.

passwordnow

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Quote from: Wiwo on September 07, 2023, 12:45:41 PM

Quote from: passwordnow on September 07, 2023, 12:37:27 PM

AFAIK, most banks are mad with any connection to gambling and that's why if a depositor has been tracked that there's some money that comes into his account from a betting site, they're putting it as a red flag. I'm not sure if that's the majority of the banks but that's what I have seen. And with that banking app that @OP shared probably has a partnership with the betting app that will redirect you upon clicking that icon of betting. Well, if so then it's all about the money that that bank is for.

Yeah this law of placing accounts with gambling deposits on a red flag applies to countries where gambling is illegal and that is one of the major reasons why regulators always monitor the incoming transactions of their citizens to see who is violating the law, and Another thing again to note is that, banks as commercial entities will partner with whatever firm that could possibly generate steady patronage such as casinos and where the law allows it their get involve in it in full force.

It just goes against their main principle of helping people to save and to be more knowledgeable about finance. I mean yeah, we're gamblers and we advertise casinos but something like this shouldn't happen. They're the bank and should stay as is, and with the service they offer to the people. That's not the right platform to add as something that's permanent on their app. A background check for that bank must be made by its central bank if it's allowed or not.

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Quote from: Wapfika on September 08, 2023, 06:39:55 AM

Quote from: dothebeats on September 07, 2023, 07:05:14 PM

I think I know where OP is from. General financial and banking apps do have these features and to me, it should be removed and the apps fined a hefty amount. It's as if they are affiliated with these apps and are subtly advertising them. I know most people are not gambling degenerates and would really be ignoring these features, but to those who are already challenged when it comes to stopping their gambling habit, this is very dangerous.

At the end of the day, They are still business and maybe they knew that most of there customers send money on a casino that’s why they implement this feature for convenience of their player. I’m not agree too on attachment of gambling feature on a banking app due to the tendency of addiction but we have no choice than to accept their service or don’t use the app.

The only way this feature will be removed if there’s a petition from their customer to remove it. This is same issue on my country financial app but it stays there since no one complains directly to the company offering the service.

In countries wherein gambling is legal, this will not be removed. However you're right, a petition from a somewhat known body or organization can help get this thing removed from banking apps. It shouldn't exist there in the first place, and sometimes, it's the bank's own games that are embedded within that app. There should be a separate app for gambling purposes and that should be a law because it obviously tempts other people to waste their money while logged in on the apps.

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Quote from: Blowon on September 08, 2023, 06:41:10 PM

Which banks have this feature? I've only just heard about it. I agree that this is very dangerous. We know money is very important for our needs and banks are the safest place to store it. But if there is a betting feature in it, it means it is a very unsafe bank. I will leave this bank if I use it, it will take my money with the temptation of gambling features in it. does that country not forbid this feature in their country bank?

that feature is actually not common to banking apps. so i wonder why his local bank is offering such service? but if you find a banking app having this service, it is like they want their customers gamble their money and lose. we all know that in gambling, very few people can be lucky. most of the time, you will lose your game. this will also entice their users to gamble if you can just tap the betting feature so easy.

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Quote from: Davidvictorson on September 07, 2023, 11:27:24 AM

My submission is that betting features on any banking or financial apps should be removed to discourage compulsive gambling and irresponsible gambling. Do you agree with this perspective?

Regardless if those banking apps have that betting feature or not, nothing will change the fact that gambling is already a massive entertainment activity for most people. We shouldn't look at that banking application feature as one of the reasons why people are being encouraged to gamble. If the law allowed these bank applications can have that feature, then let's just leave it that way.

Aside from that, some digital banks or financial apps are being used mostly as a payment method by these gambling sites, especially in local gambling sites. In some cases, a partnership is made, obviously to promote the platform. There's even an additional percentage of the deposit if done through a specific digital bank or related one.

It still depends on the people if they want to gamble. Being encouraged by these apps is a shit reason for me why people started gambling.

Blowon

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Which banks have this feature? I've only just heard about it. I agree that this is very dangerous. We know money is very important for our needs and banks are the safest place to store it. But if there is a betting feature in it, it means it is a very unsafe bank. I will leave this bank if I use it, it will take my money with the temptation of gambling features in it. does that country not forbid this feature in their country bank?

uneng

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Gambling is everywhere nowadays. If someone feels tempted by that button on their banking app, they will also feel tempted by another gambling offers on the internet. People aren't going to gamble because that button, but because they are prone to doing that, anyway. So I don't think it's a big issue that the bank app offers gambling content. It seems they offer many other services as well, like the possibility of paying your internet, electricity and bills in general, referrals program and so on.

You are the one who should filter which of those services are worthful for you and which of them you should ignore. If you think gambling is harmful, just ignore that button. For uneducated people the bank should be enforced to add a warning message before allowing someone to bet, and that is all.

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Quote from: Apocollapse on September 08, 2023, 10:11:27 AM

It's so strange how the bank in your country are offering betting features because gambling is actually opposite against the bank service. Bank will encourage people to save their money in time deposit in order to make more money while gambling is a way to lose your money.

I don't know maybe i should say that am coming across something of this kind for the first time, banks wouldn't want to downgrade upon their reputation in having things in common with the gambling sites not to now say having their apps on the banking mobile apps, we need to be very careful of the sources through which we download some of these apps, because they can be unreliable atimes if we are not on the right source approved from the banks to download their apps.

livingfree

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Quote from: coolcoinz on September 07, 2023, 03:26:55 PM

Quote from: livingfree on September 07, 2023, 03:25:01 PM

What's the name of the bank? There's also an advertisement below about gambling.

Want to become a client? Grin

I don't think banks in the EU have that. There are rules restricting gambling that limit the access to such services.

Hehehe, nope. Tongue

It's just for the sake of everyone to have an idea on what's the name of the bank but I am sure that it's not available where I am now.

Quote from: coolcoinz on September 07, 2023, 03:26:55 PM

If there are banks that offer people easy access to gambling through their banking apps I'd say it's taking things a bit too far, but then there's a problem of local laws. It's possible in some Asian countries this is completely acceptable and in accordance with the law, in which case we can't do anything but maybe stop using the bank and boycott its services.

There's nothing we can do if they have that but can also try to report it to the higher authorities of the government if there's a certain law that they're able to bypass.

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I personally agree with you. It’s like banks are really taking advantage from us gamblers that they really need to include betting betting section in their banking app. Wow that’s part of their business for sure as they can make a lot of profits out from those who decide to bet. While this can be easy and accessible to all who install mobile banking app, but the risk to fall into gambling addiction is also high. So I would also want to make this remove as soon as possible before it could harm our finances.

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Quote from: piebeyb on September 08, 2023, 10:17:43 AM

What country do you bank in? I'm so curious, in my country it is prohibited anything related to gambling maybe in your country gambling is very legalized so for that feature it doesn't seem to matter to them as long as it's legal, unless your country's government considers gambling illegal I'm sure the banking app in Your country will not add it. after all gambling within a banking app doesn't seem worth a look either.

It's most likely Nigeria because you can see the Naira symbol there. I doubt that any other country besides Nigeria allows you to run a main account in that currency since it's too unstable for most countries and banks outside Nigeria tend to avoid it, while banks within the country have no other choice but to run it.
If they're allowing this it's a sign their work ethics is non-existent and they don't obey any global banking laws, while local laws are built in such a way that as long as you increase the GDP it's fine, since the country is in so much shit.
In most developed countries something like that wouldn't exist.

Dr.Bitcoin_Strange

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Oh wow, is that a trap or something? Well, the bank is always in business for anything that will benefit them, because before they will allow a casino site to be integrated into their system, they should have already received a huge payment for that. This is a trap for the account holder if by chance the person is a gambler, and if it's someone who gambles more often, they can even become addicted to just placing bets right in their banking app. I really agree with you, @OP, that such features should be removed from banking apps, although not all banking apps have integrated those features already. Although anyone who chooses to be a responsible gambler, despite having the gambling site on their bank apps, will still exercise their self-control, I just don't support it.

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it's quite strange to see that there is a gambling feature in your banking application because so far i haven't found that feature in my banking application. however, i do agree with you that gambling features should not be supported by banking applications because then it makes it easier for users to gamble and increases their spending.

banking platforms should be more concerned with financial education than placing gambling features, because not all users have good financial management and giving them access to gambling more easily can make them addicted and result in financial chaos.

piebeyb

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What country do you bank in? I'm so curious, in my country it is prohibited anything related to gambling maybe in your country gambling is very legalized so for that feature it doesn't seem to matter to them as long as it's legal, unless your country's government considers gambling illegal I'm sure the banking app in Your country will not add it. after all gambling within a banking app doesn't seem worth a look either.

As we know people can gamble at online casinos directly accessing the site directly, so there is no need to use the banking app anymore, but everything comes back to you and as long as you can control yourself, you will never feel disturbed by gambling. in your banking app, of course you can ignore that. Wink

Apocollapse

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It's so strange how the bank in your country are offering betting features because gambling is actually opposite against the bank service. Bank will encourage people to save their money in time deposit in order to make more money while gambling is a way to lose your money.

Though gambling itself isn't a problem, but they should know where the right place to promote the betting sites.

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Quote from: xSkylarx on September 08, 2023, 09:11:14 AM

The bank that I am using doesn't have that thing. Also, the rewards tab in your app doesn't have it, even in other banks, where it is really alarming. I'm not sure what kind of bank it is, but those kinds of things like rewards and betting are only available in our local payment service app or online wallets, where we can use them to pay a merchant.

Banks will not promote such platform because they are regulated by the central bank and of course the anti money laundering act.
Banks are very strict with this thing, so I agree that no banks should promote this kind of platform especially not all who use banks are ok to gamble.
Well, if the regulations are not that strict on your place then this is possible but in my country, banks are strictly following the regulations, they have the reputation to maintain.

xSkylarx

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The bank that I am using doesn't have that thing. Also, the rewards tab in your app doesn't have it, even in other banks, where it is really alarming. I'm not sure what kind of bank it is, but those kinds of things like rewards and betting are only available in our local payment service app or online wallets, where we can use them to pay a merchant.

That can really easily trigger a gambler to bet because if he saw it then for sure he will bet. I'm not sure why your bank put it there, but is it not legal right? I mean, why did the bank put it there? are their affiliated with it? Also, one more question, does your bank really have an actual bank to which customers can go? Or is this only an online wallet?

Gozie51

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Maybe I would say my bank is more responsible Grin

I didn't see such ads in my bank app or maybe I have not checked every little details of the icons there anyway but if I had seen any of gambling ads, it won't matter anything to me because I think the whole system is running congruous with each other and it is for someone to have a choice to do or not to do, maybe the freedom we are asking for is closer with us now and we have to battle with our emotions. I'm sure more people won't find anything wrong with that, more or less bettors won't or addicts that would see it as more convenient.

Moreover, that is a direction to click to have a direct refill to either your fiat gambling account. It is not cohesive in nature but a freewill that you gamble with, so if someone is not a gambler, he or she doesn't have a business with that even though the bank have a business agenda with the gambling site by agreement or MOU to have there ads on the app likewise the gambling site having the bank as there official banker. So it is just the business my brother.

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Quote from: Davidvictorson on September 07, 2023, 11:27:24 AM

I noticed something lately. Although it has been there for a long while but the time I have spent on this board is making me see things. I do not know if this is how it is in other parts of the world but I noticed that in my banking app, there a betting feature where the user can place a bet on any match directly from the app.

Honestly, I hate it and I think that this feature should be removed so as to protect consumers from potential harm promote responsible financial practices and maintain the integrity of financial institutions. Bodies in charge of betting regulations should start here by establishing guidelines or restrictions prohibiting betting features within banking and financial apps. My submission is that betting features on any banking or financial apps should be removed to discourage compulsive gambling and irresponsible gambling. Do you agree with this perspective?

The above image is the UX for a mobile baking app in my country.

I think that if that feature is removed maybe it is better for the consumers of the app but not that better for the makers of the app,so in here we have two different points of interest which is also "a point of conflict" for such interest.In order to make it fair to both sides so the makers of the app do not lose consumers who may prefer betting,they can add asking extra details for people who want to use that feature by implementing a very strict KYC that asks for selfie with mobile app,proof of address,and bank statement.This would make sure that people who may think let's try this betting option will be turned away when they will see such big requirements only to bet.

Topic: Betting Features on any Banking or Financial apps should be Removed - page 4. (Read 645 times)