Stamp Duty on financial cards
ATM, debit and combined cards
The rate for ATM cards (also known as cash cards) is €0.12 per ATM withdrawal to a maximum of €2.50 per card.
There is no charge to a debit function only used in a year.
The rate for combined cards (ATM & debit) is €0.12 per ATM withdrawal to a maximum of €2.50 per card where only the ATM function is used during the year.
The rate for both functions used in a year is €0.12 per ATM withdrawal to a maximum of €5.00 per card.
Stamp Duty arises against the card and is collected in arrears. Stamp Duty for the year should be charged to your account on 31 December of that year.
If you use your card to facilitate cash transfer or withdrawal of funds, you will be charged Stamp Duty.
There is no second charge to Stamp Duty when switching accounts within an institution or between institutions in any one year. This is provided you close your old account.
If you close your account before 31 December your card issuer will not charge your account with Stamp Duty. The duty is only collected on cards which are valid on 31 December each year.
If you do not use your card during the year there will be no Stamp Duty charge.
Where the card is in respect of a deposit account and the average daily balance does not exceed €12.70, there will be no Stamp Duty charge.
There is no Stamp Duty charge if you only use the card:
- to request a chequebook
- a balance statement
- to establish your identity
- to establish a correct customer account number.
Basic payment accounts
These are accounts where the account holder:
- did not hold an account for the previous three years
- did not initiate any activity on the account for that period
- is in receipt of less than €4,500 per quarter (except for social welfare payments).
There is no Stamp Duty charge on cards issued on basic payment accounts.
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