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Thursday 2 October 2014

Paying off charge each week costs extra €52

Published 23/03/2013 | 05:00

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HOMEOWNERS who choose to pay their property tax in weekly instalments will be hit with an additional annual bill of up to €52.

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This is because banks, post offices and other outlets will charge a transaction fee every time a payment is made.

The highest charges will be incurred by households who pay in An Post branches, with a €1 charge applying per payment, the company confirmed yesterday.

A spokeswoman said the fee was to cover the cost of processing the payment.

"A transaction fee of €1 will apply," she said. "We're one of the payment options and it's to cover the costs of handling it.

"There are several options, and An Post has the Tax Pay system which was specifically set up for the property tax.

Fee

"In some other payment options, the transaction cost is borne by the operator. It's a money handling fee."

Charges will also apply if payments are made by direct debit, credit card or debit card, with AIB charging 20c per transaction and Bank of Ireland imposing a 28c fee. A 50c charge applies if paying by cheque.

People choosing to pay at retail outlets using the Payzone system will be charged 75c for every payment up to €50, rising to €1 for payments between €50 and €100 and €2 for amounts above this.

The Omnivend system incurs a sliding charge, ranging from 1c if a payment of €1 is made, which can rise to 80c.

People who pay by cash or through their employers, pensions or by making deductions from social welfare or Department of Agriculture payments will not incur extra charges.

Irish Independent

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