Q.  I recently opened a current account with a bank and received a new ATM and Laser card. I haven’t closed my previous account with a different bank yet but I intend to cancel the ATM and Laser card for it. I’ve already paid a stamp duty charge for that card earlier this year. Do I have to pay the stamp duty again for the card on the new account?

06.01.10

Stamp duty is charged each year for cards that are held on December 31. This means that you can change to a new bank account during the year but you will not be charged for cards that are cancelled before December 31. The stamp duty you paid earlier this year was for the use of the cards in 2008.
For 2009, the stamp duty on ATM cards and Debit/Laser cards is €2.50 per card. If you have a card that combines both ATM and Debit/Laser functions, the stamp duty on the card is €5. This stamp duty will be charged to your account in early 2010. The duty applies to each card, rather than each account, but it does not apply to replacements for lost cards.

There are a number of other cases where the stamp duty does not apply. If you have not used the ATM or debit functions of your card during the year then it is not liable for stamp duty. It does not have to be paid if you have only used the card to request a chequebook, a balance statement, or to establish your identity or account number.
There is no duty payable if the card is issued on a deposit account which has an average balance of less than €12.70. You are also exempt from stamp duty if your billing address is outside the State.

Citizens Information: Buncrana 074 9363496; Carndonagh 074 9373741

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