Saturday 10 December 2016

Banks still deducting €5 duty for debit cards

Published 12/01/2016 | 02:30

In the last Budget the €5 charge on debit cards was replaced with a 12c charge for ATM withdrawals. Getty Images/iStockphoto
In the last Budget the €5 charge on debit cards was replaced with a 12c charge for ATM withdrawals. Getty Images/iStockphoto

Customers have accused their banks of double charging after stamp duty was deducted from payment card accounts in the past few days.

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They are angry as the flat-rate charge has been abolished from this year.

In the last Budget the €5 charge on debit cards was replaced with a 12c charge for ATM withdrawals.

But in the last few days a number of banks have taken the stamp duty from customers' current accounts.

Banks insist they are deducting the stamp duty now for last year, but the fact that the charge is still levied is causing massive confusion.

But banks say they are obliged by Revenue to collect the duty in arrears. Some banks have yet to collect the levy.

Irish Independent

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