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Credit Card Govt Duty

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  • 02-11-2004 8:01pm
    #1
    vector
    Registered Users Posts: 1,756 ✭✭✭


    Is the EUR 40 annual duty paid in
    -advance
    or
    -arrears


Comments

  • Options
    #2
    stiofanD
    Registered Users Posts: 325 ✭✭stiofanD


    Its paid in arrears AFAIK. i.e. on the 1st Apr each year, you are charged €40 for every credit card account in your name open in the previous 12 months (even if it was only opened on 30th March)


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    #3
    EKRIUQ
    Registered Users Posts: 4,386 ✭✭✭EKRIUQ


    But they charge your credit card, how could they do this if you cancel one


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    #4
    therecklessone
    Registered Users Posts: 17,213 ✭✭✭✭therecklessone


    TIPPTOP wrote:
    But they charge your credit card, how could they do this if you cancel one

    They charge you on closing the account, i.e. if you close today you'll be charged the €40 on your final bill.


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    #5
    vector
    Registered Users Posts: 1,756 ✭✭✭vector


    Indeed, an infamous anti-competitive fee on closure, charged by the BANK.

    Now, we don't like it, but it is a govt tax so what can you do?

    Well we assume that it goes to the govt, and the BANK is just acting as an intermediary, but I wonder it that always the case.

    Will Charlie Bird report in 18 months that a loophole allows the BANKS to keep the fee in certain cases, where an account was closed before a given date?


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