Cancelling a Credit Card to Avoid Stamp Duty

B

Brenbosh

Registered User
Messages
2
I was on to AIB a while ago because I don't use my credit card anymore and wanted to cancel it and avoid the €40 Stamp Duty or whatever it is these days. The lady told me that it would cost me €40 to cancel it (or the same amount as keeping it). Sounds to me like a rip-off, but nothing surprises me about Irish banking. Is this correct or just a way of getting me to keep my card and possibly use it?
 
You have to pay the levy on the card. Nothing new. It applies annually. So it doesnt matter whether you have a card for 2 months or 12 the levy is still the same. Its been that way for years so you cant avoid it. so just suck it up and move on with life.
 
It's the 'cancellation' charge I'm on about, not paying the levy for having it. Hello Mr Bank-man, I'd like to cancel my credit card. Grand so, that'll cost ye €30. It's a nonsense.
 
Hi.. the bank may just be indicating that the €30 stamp duty charge will still be applied, it's not their "admin" charge for cancelling the card.

As mentioned above, the card is charged for previous years use of it. If you cancel before April 1st, there won't be a charge in 2016 for it.
 
Ahhh this reminds me of all those ads years ago with the people on the bus
 
Worth paying €30 to close though as no yearly €30 charge ever again...closed mine few years ago...
 
Mother died in February 2015 and credit card was cancelled. Agent advised on phone when executor cancelled card that stamp duty wont be charged in April 2015. Executor checked online and the €30 has been charged. What is correct?

I have checked revenue website and its not very clear - please see below.

What if I am the administrator of an estate?
In the case of a credit card account or a charge card account, where the cardholder has died and the account is closed, there is no duty payable in respect of the credit card account or charge card account on the following 1 April.

"The following 1 April" -do they mean 2015 or 2016 in my mothers case?
 
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