With the introduction of the Interactive Gambling Amendment (Credit and Other Measures) Bill 2023 by the Federal Government, credit cards, amongst other payment methods, can no longer be used as a way to pay for interactive wagering services.
The Bill aims to prevent gamblers from spending money from a credit facility that they may not have the means to repay. The Bill also aims to bring online gambling inline with other forms of gambling for which credit cards also can’t be used.
More details on the bill can be found at the Australian Parliament House website.
What's changing?
The use of credit cards to pay for gambling services is on the rise and can cause significant financial stress for individuals and their families.
Alternative option
What's changing?
The use of credit cards to pay for gambling services is on the rise and can cause significant financial stress for individuals and their families.
From 18 April 2024, changes will be applied to Community First credit cards to block them from being used as a payment method for online gambling services. The block relies on information provided by those organisations classified under certain online (and other) gambling-related merchant category codes. Any transactions identified from these operators will automatically decline.
Community First joins other financial institutions who have already put similar blocks in place for their credit products.
Alternative option
When it comes to spending your own money on gambling services, you have a choice. Customers can still use a debit card which is linked to a transaction account holding the individual’s own money.
We’re here to help
If you have any questions or would like more information about these changes, give us a call on 1300 13 22 77, email us at askus@communityfirst.com.au or visit your local financial services store.
If you or someone you know is problem gambling and needs extra support, consider the following services:
• Gambling help online – Get free 24/7 support for anyone affected by gambling by calling 1800 858 858 or visit www.gamblinghelponline.org.au.
• Bet Stop – A free Australian Government initiative to block yourself from all licensed Australian online gambling providers. Visit www.betstop.gov.au.
Last updated: 19 April 2024
The information contained in this article is only correct at the point of time of publication. It is general information and has been prepared without taking into account your personal circumstances, objectives or needs. Please consider if this information is right for you before making a decision to acquire any product.