Closing Current and Credit Card accounts

bidiots

Hi,
What do I need to do to close both my credit card and current accounts?

Bank of Ireland: Elaine

Hi bidiots, 

Thank you for getting in contact with us here on Boards.ie and we regret to learn of your intention to close your accounts. 

Should you wish to close your current account, you can call into your nearest BOI branch with photo ID and your account details and a representative will be happy to take your instruction. Alternatively, you can post a written request by letter (email/fax can not be accepted) to any branch. Contact details of your branch can be found here. 

In order to close a credit card account, you would need to ensure that your balance is clear and the account is in credit of E30 to allow for the Government stamp Duty for the tax year 01/04/2015 to 31/03/2016. 

You can then call our customer support team on 0818 251 251 and a representative will process your request. 

If you have a credit balance remaining on either account, please supply the representatives with the account details as to where you would like this transferred to. 

We would like to thank you for your business to date and if we can help with any of your future financial needs, please don't hesitate to contact us again. 

Elaine

bidiots

When is the stamp duty taken from the credit card? Think I've paid already

bidiots

Yeah, just checked, duty was taken on the 2nd April

Bank of Ireland: Elaine

Hi bidiots, 

Thank you for coming back to us. 

The stamp duty on credit cards is charged in arrears. The recent charge of E30 on the 02/04/2015 would have been applied for the previous tax year from the 01/04/2014 to the 31/03/2015. 

If an account is open within a new tax year, the Government Stamp duty for that year is charged upon closure. Regrettably, as this is a revenue tax we have no control over this. 

You can find further clarification on this charge here on the revenue website. 

We hope this helps, 

Elaine 

bidiots

Bank of Ireland: Elaine wrote: »

Hi bidiots, 

Thank you for coming back to us. 

The stamp duty on credit cards is charged in arrears. The recent charge of E30 on the 02/04/2015 would have been applied for the previous tax year from the 01/04/2014 to the 31/03/2015. 

If an account is open within a new tax year, the Government Stamp duty for that year is charged upon closure. Regrettably, as this is a revenue tax we have no control over this. 

You can find further clarification on this charge here on the revenue website. 

We hope this helps, 

Elaine 

No, my balance is zero and that's the way its staying. They can apply the charge to my new credit card.
Thanks

Eimee90

I will be looking to do the same this evening when I go into the bank, I will ask to close mine completely too as I have messaged repeatively now for a solution to my blocked account and looked for a rep to get back to me on walking in and talking to someone in my own bank as I cannot pick up the phone for the next few hours and this needs to be sorted ASAP.  I cant access my account online at all. I shouldnt be locked out of my account and yet I'm struggling to get through to anyone. 

Bank of Ireland: Elaine

Hi bidiots, 

If you are transferring your credit card to another financial institution, we can supply you with a Government Stamp Duty exemption letter once your account is closed and the E30 fee for this year has been paid. 

You would then not be liable for this fee on the 02/04/2016 on your new card. 

Once again, we hope this information is of benefit to you. 

Elaine 

ct5amr2ig1nfhp

Bank of Ireland: Elaine wrote: »

Hi bidiots, 

Thank you for getting in contact with us here on Boards.ie and we regret to learn of your intention to close your accounts. 

Should you wish to close your current account, you can call into your nearest BOI branch with photo ID and your account details and a representative will be happy to take your instruction. Alternatively, you can post a written request by letter (email/fax can not be accepted) to any branch. Contact details of your branch can be found here. 

In order to close a credit card account, you would need to ensure that your balance is clear and the account is in credit of E30 to allow for the Government stamp Duty for the tax year 01/04/2015 to 31/03/2016. 

You can then call our customer support team on 0818 251 251 and a representative will process your request. 

If you have a credit balance remaining on either account, please supply the representatives with the account details as to where you would like this transferred to. 

We would like to thank you for your business to date and if we can help with any of your future financial needs, please don't hesitate to contact us again. 

Elaine

Elaine, please confirm this information is correct?

I dropped into a (large) local branch only last week to close an account. I was told I could not close my account at that branch and had to go to my own branch. Most infuriating as it is difficult for me to get to my local branch due to work.

I wouldn't mind but I had already signed the document to close my account in 2012, yet it was never actioned by the branch. (balance is zero)

Bank of Ireland: Elaine

Hi ProjectMoose, 

We are disappointed to hear that you were directed to your opening branch to action your closure request.

We can assure you that any branch can take this instruction, as a representative can then forward this to your account holding branch on your behalf. 

If you would like to confirm the name of the branch where you received this information, we would be happy to pass on your comments for feedback purposes. 

Thanks, 

Elaine 

ct5amr2ig1nfhp

It was the Dublin Airport branch that instructed I go to my local branch.

Bank of Ireland: Elaine

Thanks for that ProjectMoose, 

We will ensure that your feedback regarding your recent customer experience is forwarded to this branch. 

If you need help with anything else, please don't hesitate to post again. 

Thanks, 
Elaine 

bidiots

Bank of Ireland: Elaine wrote: »

Hi bidiots, 

If you are transferring your credit card to another financial institution, we can supply you with a Government Stamp Duty exemption letter once your account is closed and the E30 fee for this year has been paid. 

You would then not be liable for this fee on the 02/04/2016 on your new card. 

Once again, we hope this information is of benefit to you. 

Elaine 

So you are telling me I have to pay 30 euro to get an exemption letter?
No thanks. I'll close the account and will pay the duty next April again with the new card.

marco_polo

bidiots wrote: »

So you are telling me I have to pay 30 euro to get an exemption letter?
No thanks. I'll close the account and will pay the duty next April again with the new card.

Its the law so theres really not much point whinging at the bank. Your choice is to pay €30 now and nothing next April or €60 next april on both your open credit card accounts.

Rackstar

Pay the €30 and get the exemption letter. Otherwise you'll end up with 2 credit cards and paying €60

bidiots

marco_polo wrote: »

Its the law so theres really not much point whinging at the bank. Your choice is to pay €30 now and nothing next April or €60 next april on both your open credit card accounts.

Rackstar wrote: »

Pay the €30 and get the exemption letter. Otherwise you'll end up with 2 credit cards and paying €60

What a country....

Rackstar

bidiots wrote: »

marco_polo wrote: »

Its the law so theres really not much point whinging at the bank. Your choice is to pay €30 now and nothing next April or €60 next april on both your open credit card accounts.

Rackstar wrote: »

Pay the €30 and get the exemption letter. Otherwise you'll end up with 2 credit cards and paying €60

What a country....

Don't get the exemption letter, get a bill for €60 for the two cards, then strap yourself to the front of a BOI in protest and end up having to pay the €60 anyway. Is that the answer you were looking for?

bidiots

Rackstar wrote: »

bidiots wrote: »

marco_polo wrote: »

Its the law so theres really not much point whinging at the bank. Your choice is to pay €30 now and nothing next April or €60 next april on both your open credit card accounts.

Rackstar wrote: »

Pay the €30 and get the exemption letter. Otherwise you'll end up with 2 credit cards and paying €60

What a country....

Don't get the exemption letter, get a bill for €60 for the two cards, then strap yourself to the front of a BOI in protest and end up having to pay the €60 anyway. Is that the answer you were looking for?

The answer I was looking for uses common sense.
I will have one credit card. Ive paid the duty. I will pay it again next year as usual. Is that simple enough now for you to understand?

Rackstar

It's the common sense you're missing. Pay the stamp duty and get the exemption letter. Don't get the exemption letter and you'll have to pay €60. €30 for the card you're cancelling and €30 for your new card. I won't post back here as I was trying to help but you don't want my help and just want to take your BOI frustrations out on me.

bidiots

Rackstar wrote: »

It's the common sense you're missing. Pay the stamp duty and get the exemption letter. Don't get the exemption letter and you'll have to pay €60. €30 for the card you're cancelling and €30 for your new card. I won't post back here as I was trying to help but you don't want my help and just want to take your BOI frustrations out on me.

No frustrations, you were the one going on about strapping myself to BOI giving out about it.
It's common sense to just continue the charge to the new card. It's pretty obvious that common sense is not so common in this country.

ct5amr2ig1nfhp

@bidiot, I can see why other posters believe you are making a larger issue out of a minor inconvenience. You' appear to want to dictate how and when the tax should be paid. Do you do that with any other tax?


You are cancelling your BOI Credit Card. The charge is for the previous year.


If you were not getting a new Credit Card, you would have to pay the 30 EUR on cancellation now anyway! This is not just a BOI policy, all the banks adhere to the same policy.


BOI and revenue don't know or have any interest that you're getting a new Credit Card. It would be crazy to legislate for every eventuality. Instead they went with a process that encompasses most, if not all scenarios. This includes getting a new Credit Card. i.e. the exemption letter.


You don't have to pay twice but you are paying a year earlier. I agree that you should have an option to pay next year but we don't.