ATM stamp duty

vector

AIB took the EUR 10 from my cashsave putting the balance into the red
(I'm a student I usually have 50 in there, but I only had 6 at the time)

3 points
1. aren't they supposed to give you advance notice of this debit of EUR 10?
2. how come this cashsave account was allowed an overdraft, isin't it a form of a deposit acocunt?
3. is this "unauthorised overdraft" entered on my credit record with the ICB?
I mean it was only -EUR 4, but it would look bad

BuffyBot

2. how come this cashsave account was allowed an overdraft, isin't it a form of a deposit acocunt?

It isn't an overdraft as such. You've gone into a debit balance due to charge/levy which has been posted on your account. I think you'll find this is allowed/

Bob24

Ulster Bank took me 10 euros for a 30 euros withdraw at their ATM on Grafton street.

First I think it's a rip off! OK I was using my French credit card, but I'm usually never charged for it. This service itself (use of credit card in another country) is supposed to be free of charge in the euro zone (my bank doesn't charge anything), so it's probably the same with Irish card that are not from Ulster's Bank.

Secondly, st this legal to charge you 10 euros WITHOUT ANY WARNING for a simple withdraw at the ATM ? I guess it is otherwise they wouldn't take the chance, but I'm wondering why nobody complains ... or maybe they just don't care what poeple think!

Anyway, I'm quite pieced off and I won't use their ATMs again !

Anyone would have a list of the banks that have the same kind of fee for using their ATMs ?

vector

Bob24 wrote:

> it this legal to charge you 10 euros WITHOUT ANY WARNING for a simple withdraw at the ATM ?

if is it then what will happen is all atms will display a vague boiler plate "users may incur a transaction charge", which tells you nothing

Gone West

i never get charged anything because i was under 18. I recently turned 18, will they start charging me stamp duty as well?

Bob24

vector wrote:

if is it then what will happen is all atms will display a vague boiler plate "users may incur a transaction charge", which tells you nothing

This stamp duty thing doesn't exist in France (I'm French), but I'm sure that if it did, they would be obliged to have a warning on the ATM's screen indicating how much they will charge before you confirm the operation. I've lived in Canada and that's the way it works their, in the US as well. And they charge 1 or 2 bucks, not 10 euros ! I think it's just crazy !

The Irish banks really look like and organized rip off to me ...
I'll stop there, I feel like the image of the allways complaining French guy
Except from that I love Ireland

seamus

vector wrote:

3 points
1. aren't they supposed to give you advance notice of this debit of EUR 10?

No. It'll appear on your statement. Theres probably something buried in the fine print somewhere.

2. how come this cashsave account was allowed an overdraft, isin't it a form of a deposit acocunt?

Well, essentially, you have two options. You could let the bank push you into overdraft, or you could pay 30 or 40 euros for a "failed transaction" on your account. The €10 is essentially a direct debit that the bank are authorised to do. When a DD fails against your account, you incur charges. By allow you to go into the red, you're avoiding these charges.

3. is this "unauthorised overdraft" entered on my credit record with the ICB?
I mean it was only -EUR 4, but it would look bad

Look bad? Hardly. If you stick €4 in it tomorrow, you have a paid off debt. It looks good. I don't think overdrafts have massive impact with ICB unless you're going into the thousands, and are failing to pay it off.

When I was a student, the bank allowed me a few €10 withdrawals when I had < €10 in the account, and it hasn't affected my ability to get credit in the slightest. (Bastards won't stop offering me credit)

leeroybrown

Bob24 wrote:

This stamp duty thing doesn't exist in France (I'm French), but I'm sure that if it did, they would be obliged to have a warning on the ATM's screen indicating how much they will charge before you confirm the operation.

You may have your terminology/concepts mixed up.

'Stamp Duty' is a one off annual tax charged for the possession of a Credit, Laser or ATM card. It's automatically deducted once per annum regardless whether you use the card or not and will be explained in the account/card agreement. It goes to the government.

Any bank charges you have encountered are entirely seperate. Perhaps you saw the 'Stamp Duty' charge and thought the it was linked to one transaction, but it's not.

Also, as far as I know, for the last few years no charge has been levied to the customer for use of a normal ATM.

Bob24

leeroybrown wrote:

You may have your terminology/concepts mixed up.

'Stamp Duty' is a one off annual tax charged for the possession of a Credit, Laser or ATM card. It's automatically deducted once per annum regardless whether you use the card or not and will be explained in the account/card agreement. It goes to the government.

Any bank charges you have encountered are entirely seperate.

Indeed I mixed up the two things, my english is still far from been perfect

Thanks for the correction

vector

seamus wrote:

...ook bad? Hardly. If you stick €4 in it tomorrow, you have a paid off debt...

THanks for replying.

Well I know that is is only -4, and that I paid is off as soon as I saw but yet it could be said that I "did not keep within the terms of the account" or something in my credit file with the Irish Credit Bureau. That was what I was getting at.

Victor

Bob24 wrote:

OK I was using my French credit card

I think this is probably where the charge stems from, not that you used a cash machine as such.

Bob24

Victor wrote:

I think this is probably where the charge stems from, not that you used a cash machine as such.

The thing is I've been using this ATM for the last 4 months and have never been charged before, going from 0 to 10 is a bit weird. I'm sure that my bank doesn't charge anything, and from what I've eard the banks aren't allowed to charge you for usinga credit card in another country that is also in the euro zone in the euro zone (so if they charge must be everyone that's not fron that bank). Maybe I'm wrong ...

Anyway, there should be a warning ....

Imposter

Bob24 wrote:

The thing is I've been using this ATM for the last 4 months and have never been charged before, going from 0 to 10 is a bit weird. I'm sure that my bank doesn't charge anything, and from what I've eard the banks aren't allowed to charge you for usinga credit card in another country that is also in the euro zone in the euro zone (so if they charge must be everyone that's not fron that bank). Maybe I'm wrong ...

Anyway, there should be a warning ....

I think you're wrong. I've been charged a cash advance fee on my credit card when i've used it in an Austrian ATM just like I would if I ever did it in Ireland. But it's only been around 2 euros (I think it's somewhere between 1-2% with a minimum charge of something like €1.50).

BuffyBot

Yup, I 've been charged cash advance fees before. Normally though, it's as Imposter said, at most 2-3 euro