Every year, the Irish Government charges Stamp Duty on ATM and Visa Debit cards. Stamp Duty was deducted from relevant deposit and current accounts on 3 January 2017.
Budget 2016 introduced changes in how the Government charges Stamp Duty. Charges now depend on the type of card you have, how much you use it and where you use it.
Visa Debit cards allow you to withdraw cash at an ATM or to make purchases.
If you only use your Visa Debit card within the year for making purchases, you will not pay Stamp Duty.
If you only use your Visa Debit card within the year to withdraw cash at ATMs, you will pay 12c per ATM withdrawal. This is annually capped at €2.50.
If you use your card for making purchases and withdrawing cash at ATMs, you will pay 12c for each ATM withdrawal. This is annually capped at €5.00.
ATM cards only allow you to withdraw cash at an ATM. For example, you cannot use these to pay in a shop or online. They are also often referred to as cash cards. If you have an ATM card, you will pay 12c per ATM withdrawal within a year, capped annually at €2.50.
Learn more about our Current Accounts and Savings Accounts.
