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charged stamp duty on Visa Debit card

  • 26-01-2016 8:54am
    #1
    Posts: 15,661 ✭✭✭✭


    I've just noticed I've been charged €5 in stamp duty, I thought that this was done away with in the last budget and replaced with a 12c ATM charge ? Can you please clarify this.

    25/01/2016
     GOVT DUTY ATM/POS4258
    5.00



Comments

  • Closed Accounts Posts: 455 ✭✭Bank of Ireland: Evie


    Good Morning Enfilade,

    Thanks for contacting us here on Boards.ie,

    The new Government Stamp Duty charge will still be applied at the end of each year based on activity during the year. You will see the charge for 2016 ATM activity applied to your account as one charge, and this is for the entire year.

    I hope this fully answers your query and please let us know if there is anything else we can help with.

    Thanks,

    Evie


  • Posts: 15,661 ✭✭✭✭ [Deleted User]


    I was under the impression the charge was applied to ATM cash withdrawls at 12c each and capped at €5 , but I've only made 3 cash withdrawals from that account in the last year and was charged the full amount . I do however make weekly lodgements to the account so I must have been charged for those too?  
    The point of the ATM charge was to discourage people from using cash and to use a debit card instead, I doesn't make sense for it to be applied to lodgements too surely.


  • Registered Users, Registered Users 2 Posts: 3,601 ✭✭✭Hoboo



    The new Government Stamp Duty charge will still be applied at the end of each year based on activity during the year. You will see the charge for 2016 ATM activity applied to your account as one charge, and this is for the entire year.


    Sorry can you explain this please, doesn't make any sense to me.

    Does this mean there is a minimum charge of €5, if used infrequently?

    Thank you.


  • Registered Users, Registered Users 2 Posts: 3,601 ✭✭✭Hoboo


    I was under the impression the charge was applied to ATM cash withdrawls at 12c each and capped at €5 , but I've only made 3 cash withdrawals from that account in the last year and was charged the full amount . I do however make weekly lodgements to the account so I must have been charged for those too?  
    The point of the ATM charge was to discourage people from using cash and to use a debit card instead, I doesn't make sense for it to be applied to lodgements too surely.

    Lodging cash is using cash........


  • Posts: 15,661 ✭✭✭✭ [Deleted User]


    All of the wording on this I've seen uses "cash withdrawals" in releation to the charges , no mention of lodgements. In fact I've just spotted this 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.


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  • Posts: 15,661 ✭✭✭✭ [Deleted User]


    I get how the charge is collected as a one of charge , but according to the information on your own website and revenue the charge only relates to cash withdrawals it makes no mention of it applying to a lodgement.


  • Registered Users, Registered Users 2 Posts: 25,005 ✭✭✭✭Toto Wolfcastle


    You were charged stamp duty on your card for last year this month. The 12c ATM charge started on January 1st 2016. (It says this just before the bit you bolder above.) You will be charged the full amount based on your ATM withdrawals next January.


  • Posts: 15,661 ✭✭✭✭ [Deleted User]


    ah ok now that makes sense :)
    You were charged stamp duty on your card for last year this month. The 12c ATM charge started on January 1st 2016. (It says this just before the bit you bolder above.) You will be charged the full amount based on your ATM withdrawals next January.  


  • Closed Accounts Posts: 455 ✭✭Bank of Ireland: Evie


    Hi Enfilade,

    Thanks for coming back to us here Please see FAQ on Visa Debit cards updated here; https://goo.gl/TZR9e5

    Government Stamp Duty (GSD) on Visa Debit and ATM cards is charged retrospectively and applied to your account in January 2016. GSD for 2015 is as follows: €2.50 is applied if you have used the Point of Sale functionality (including Contactless) and €2.50 is applied if you have used the ATM functionality. A total of €5.00 max is applied if both Point of Sale and ATM functions were used any time during 2015. If you feel you have not used the card enough to accumulate a €5 charge, then please contact your branch who will advise. You can call them on 0818365365 and select option 1 followed by the * button, this will pass you through to the next available rep

    Thanks,

    Evie


  • Posts: 15,661 ✭✭✭✭ [Deleted User]


    Thanks Evie, had some coffee and it's cear now :D


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  • Closed Accounts Posts: 455 ✭✭Bank of Ireland: Evie


    Hi,

    Glad to hear your query has now been answered, enjoy the rest of your day! Thanks for getting in touch with us here on Boards.ie.

    Evie


  • Registered Users, Registered Users 2 Posts: 815 ✭✭✭jsd1004


    Hi Enfilade,

    Thanks for coming back to us here Please see FAQ on Visa Debit cards updated here; https://goo.gl/TZR9e5

    Government Stamp Duty (GSD) on Visa Debit and ATM cards is charged retrospectively and applied to your account in January 2016. GSD for 2015 is as follows: €2.50 is applied if you have used the Point of Sale functionality (including Contactless) and €2.50 is applied if you have used the ATM functionality. A total of €5.00 max is applied if both Point of Sale and ATM functions were used any time during 2015. If you feel you have not used the card enough to accumulate a €5 charge, then please contact your branch who will advise. You can call them on 0818365365 and select option 1 followed by the * button, this will pass you through to the next available rep

    Thanks,

    Evie
    Thats brilliant BOI. Ring up on your trusty mobile minutes to enquire why you have been charged 5 euro and get charged probably another fiver for the call..:pac:


  • Closed Accounts Posts: 455 ✭✭Bank of Ireland: Evie


    Hi jsd1004,

    My apologies, I should have mentioned you can use the Online Service Desk's Ask A Question function if you are registered for 365 online banking. They have access to your account there and can check your transactions and check in the unlikely event there has been any over payment.

    Thanks,
    Evie


  • Registered Users, Registered Users 2 Posts: 5,876 ✭✭✭The J Stands for Jay


    They're trying to say that the recent charge on your account us in respect of 2015. In January 2017 you will be charged an amount based on your ATM usage in 2016.


  • Registered Users, Registered Users 2 Posts: 3,601 ✭✭✭Hoboo


    jsd1004 wrote: »
    Thats brilliant BOI. Ring up on your trusty mobile minutes to enquire why you have been charged 5 euro and get charged probably another fiver for the call..:pac:


    Or use Boards as I intend to do from now on :)


  • Registered Users, Registered Users 2 Posts: 815 ✭✭✭jsd1004


    Hi jsd1004,

    My apologies, I should have mentioned you can use the Online Service Desk's Ask A Question function if you are registered for 365 online banking. They have access to your account there and can check your transactions and check in the unlikely event there has been any over payment.

    Thanks,
    Evie
    Why do you use premium rate numbers? Especially when most people assume they are dialling a free number. It is a borderline scam using a 1818 no


  • Registered Users, Registered Users 2 Posts: 815 ✭✭✭jsd1004


    jsd1004 wrote: »
    Hi jsd1004,

    My apologies, I should have mentioned you can use the Online Service Desk's Ask A Question function if you are registered for 365 online banking. They have access to your account there and can check your transactions and check in the unlikely event there has been any over payment.

    Thanks,
    Evie
    Why do you use premium rate numbers? Especially when most people assume they are dialling a free number. It is a borderline scam using a 1818 no
    Just realised you get a portion of the call costs...smart..really smart :rolleyes:


  • Registered Users, Registered Users 2 Posts: 26 diddlium


    Hi what date in january is Government Stamp Duty (GSD) on Visa Debit and ATM cards? I have an overdraft and I need to know the exact date so I can have the money in as I've already been charged fees for my overdraft being overdrawn , I wish the bank were more clear on exact dates


  • Closed Accounts Posts: 204 ✭✭Bank of Ireland: John


    diddlium wrote: »
    Hi what date in january is Government Stamp Duty (GSD) on Visa Debit and ATM cards? I have an overdraft and I need to know the exact date so I can have the money in as I've already been charged fees for my overdraft being overdrawn , I wish the bank were more clear on exact dates


    Hi diddlium,

    Thank you for getting in touch.

    The Government Stamp Duty will come out at the end of January 2019. We do not have an exact date as yet.

    It is charged on ATM / LATM withdrawal with ROI in 2018 at a rate of €0.12 per withdrawal capped at €5 when ATM and Point of Sale function is used on your card.

    Many Thanks

    John


  • Closed Accounts Posts: 423 ✭✭Bank of Ireland: Lorna


    Hi diddlium,

    Thank you for your query,

    We've just had an update and we can confirm that the stamp duty is going out the week of the 28th of January.

    Thanks,

    Lorna


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