There are certain Government charges, which the bank is obliged by law to collect from you. Government charges are debited to your account even if you qualify for free account transactions. Under current legislation, the following Government charges apply.
- Cheques/Domestic Euro Bank Draft: €0.50 Government Stamp Duty per cheque/draft.
- Debit Cards: Government Stamp Duty will be charged at a rate of €0.12 per ATM transaction. Government Stamp Duty only applies to ATM transactions carried out within Ireland (excluding Northern Ireland). This charge is capped at €2.50 if you only use your debit card for ATM transactions and capped at €5 if you use your debit card for both purchases and ATM transactions. Government Stamp Duty charge on debit cards is applied in January, for the previous year.
- Credit Cards: Government Stamp Duty of €30* is charged annually per Credit Card account.
*Revenue have amended the charging period to bring it in line with the calendar year. This will mean that GSD on credit cards will be charged in January 2024 for the previous year.
To facilitate the change and a shorter chargeable period (2 April 2023 to 31 December 2023), a reduced GSD of €22.50 will be charged in January 2024. If you close your card during this period (2nd April 2023 to 31st December 2023) you’ll be charged €22.50 on closure.
From 1st January 2024, GSD for credit cards will revert back to €30 and you’ll be charged in January 2025.