HSBC Review Limits Exposure to Online Gambling
Key Takeaways
  • A UK player was told by HSBC that he had 60 days to close his account after the bank realized he was using it for online gambling transactions.
  • The letter informing him of this decision explained that “following a recent strategic review of our exposure to the gaming and gambling sector, we have concluded that this will not be an area of focus for HSBC.”
  • A spokesperson told iNTERGAME that this did not mean that HSBC would not process debit card payments to gambling companies, and that they “will treat each case on its merits.”

Four months ago the Malta Independent reported that the HSBC bank was blocking gambling transactions as a matter of policy. A bank spokesperson has now confirmed that the policy follows a review in which the decision was taken to reduce the bank’s exposure to gambling transactions.

A UK customer involved in the casino industry was told by HSBC that he had 60 days to close his account after the bank realized he was using it for online gambling transactions.