ATM tax replacing debit card stamp duty

michael jay

can anyone explain this to me,
i have a debit card with two different banks
and both charged the 5 euro free this month
one of them i only use for paypal every few months
and the other i dont use at atms

so am i not suppose to be getting charged only when i use them,


thanks

MarieOC

michael jay wrote: »

can anyone explain this to me,
i have a debit card with two different banks
and both charged the 5 euro free this month
one of them i only use for paypal every few months
and the other i dont use at atms

so am i not suppose to be getting charged only when i use them,


thanks

The charge is in arrears so it's for last year. However, if you've never used either at an ATM it should have been €2.50 each.

michael jay

great thanks

I was changed the full amount of €5 yesterday for an account I made 3 cash withdrawals from in the last year. I would make almost weekly lodgements to the account though so they don't seem to be actually differentiating between lodgements and withdrawls just counting the transactions regardless of the direction the money goes.

I tried to check the rules on this on the revenue.ie site but typically they only have the old information on there

EDIT: Quick check on this over on the BOI website https://personalbanking.bankofireland.com/bank/current-accounts/support/visa-debit-card/#faq-panel-17991

Budget 2015

In the October 2015 Budget, the Government announced changes to how Government Stamp Duty (GSD) will be applied to accounts in the future. These changes came into effect as of the 1st January 2016. In January 2017, you will be charged retrospectively for each cash withdrawal made from an ATM / LATM within the Republic of Ireland in the preceding year (2016) at a rate of €0.12 per withdrawal capped at a maximum of €2.50 per ATM (cash) card, or €5 per Visa Debit (combined) card.

I'm putting it to them over on the Talk To forum for clarification , I know it's a tiny sum but I pay enough tax as it is.


EDIT: Some one pointed out to me the €5 is for last year and the 12c charge only started in january and wont be collected until next year, so cleared that up for me.

Delta2113

€5 is correct for last year charges provided you used the atm and pos function. If you did not use the pos function you should only have been charged €2.50.

Delta2113

With the new rules if you don't use the POS function of your card your actually capped at 2.50 euro.

Nervous Wreck

Delta2113 wrote: »

With the new rules if you don't use the POS function of your card your actually capped at 2.50 euro.

That's not a new rule. The charge has always been split in two €2.50 charges; one for ATM, one for POS.

Delta2113

Correct but the banks kept saying cap is now 5 euro for debit cards when in fact it is 2.50 or 5 euro if you use POS function at least once.

Nervous Wreck

The cap is, as it always has been, €5 for use of full functionality of the card.

Fred Swanson

This post has been deleted.

JTMan

Fred Swanson wrote: »

This post has been deleted.

Ulster Bank should not be doing this, it is against Revenue's rules. Complain.

Delta2113

Nervous Wreck wrote: »

The cap is, as it always has been, €5 for use of full functionality of the card.

You only have a cap if you can go over it which was not the case previously.