For many of us, checking our bank balances can result in a nasty shock if they have been unable to control their spending habits.

But now a British company is hoping to turn this into a real physical sensation.

A wristband that delivers a 255 volt electric shock can now be linked to bank accounts, to send a shock when the user's bank account reaches below a certain threshold.

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A wristband that delivers a 255 volt electric shock could be linked to bank accounts, to send a shock when the user's bank account reaches below a certain threshold. The wristband (pictured) was first launched in 2014 by a US company, Pavlok, as a way of helping people control their eating habits

The wristband was first launched in 2014 by a US-based company called Pavlok.

At first it was designed as a 'personal coach on your wrist' and, to encourage the development of good habits and could even be used to help stop overeating.

HOW THE WRISTBAND WORKS First, consumers log into their credit card or bank account. Second, they connect their Pavlok device and set a spending limit. Third, when users near their self-imposed spending limit, their phone will display a notification. Finally, if users go over their limit, Pavlok will deliver an electric shock to their wrist. Advertisement

Now British firm Intelligent Environments has launched software that can link the wristband to people's bank accounts.

The device works based on the principles of Pavlovian Conditioning to help people break bad habits.

The idea behind the shocking invention is that the two milliampere shock will condition wearers to develop and stick to good habits by associating the bad habits with the uncomfortable yet effective shock.

It could also be used to save heating bills, by working with smart metres and encouraging people to turn their thermostats down.

According to the Energy Saving Trust, turning a thermostat down by just three degrees will save £255 ($372) per year.

When users near their self-imposed spending limit, their phone will display a notification. Finally, if users go over their limit, Pavlok will deliver an electric shock to their wrist. Stock image

At first it was branded as a 'personal coach on your wrist' and, to encourage the development of good habits and could even be used to help stop overeating. Now British firm Intelligent Environments has launched a platform that can link the wristband (pictured) to people's bank accounts

Chief executive David Webber said the idea was about consumer choice.

'This is about reacting to changes in your financial well-being,' he said. 'Willpower is great if you've got it - not everybody has.'

But Professor Alan Woodward, a cybersecurity expert from Surrey University, told the BBC the more connections which are made between devices, the greater the risk of a security weakness.

'Having a convoluted interaction between systems is almost inevitably going to lead to unintended security flaws,' he said.

'It is important to factor in the security implications of such wearable devices,' Liviu Itoafa, security researcher at Kaspersky Lab said.

'Wearables face the same security threats as traditional computers. In fact, innovative devices are sometimes even more susceptible to traditional threats. Perhaps even worse yet, in time, these devices will face innovative threats.'

'According to reports, the device can link to a customer’s bank account, which could leave the door open for cybercriminals to access bank details. Wherever devices are used, whatever the technology they’re based on, all mobile endpoints that can connect to a network need to be fully secured by the developer ahead of use. '

Last month the same Boston-based company released the Shock Clock, which administers a mild electric shock to the wearer at the same time every day, forcing them to wake up early.

A device called the Pavlok Shock Clock is tapping into aversion therapy to train your brain to get you out of bed. The wristband administers a mild electric shock to the wearer at the same time every day, forcing you to wake up early as the brain kicks in to help you avoid physical pain

The band locks together on the wrist, allowing it to give a small shock to the wearer to 'reinforce' their behaviour. Last month the same Boston-based company released the Shock Clock, which administers a mild electric shock to the wearer at the same time every day, forcing them to wake up early

The Shock Clock was launched through Indiegogo by the Boston-based firm Pavlok, and will ship worldwide.

According to website,'Pavlok offers a simple, wearable device that helps consumers form better habits'.

Pavlok creator Maneesh Sethi was inspired to create the rubber wristband by Pavlov's famous classical conditioning experiment where dogs were trained to expect food each time they heard a bell ring, according to The Daily Dot.

'By adding a shock while you eat, you train your lizard brain to associate the act of eating (or the type of food) with the shock—and it can effectively limit the drive for mindless eating that you normally have,' Mr Sethi told The Dot. '