Ulster Bank refusing to accept Letter Of Closure on credit card

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DMcL1971

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I closed down my NIB Mastercard acccount a few weeks ago. When I did this, NIB took the government CC stamp duty for the period up to April 2013 as they should do. They then issued me a 'Letter Of Closure'. I got a new CC with Ulster Bank. I submitted the 'Letter Of Closure' to them to ensure they wouldn't take the stamp duty again next April.

However, UB have contacted me and say they will not accept a 'Letter Of Closure' they will only accept a 'Stamp Duty Payment Certificate' (also know as a GSD001 form). I have never heard of this certificate, I contact NIB, they have never heard of this certificate, I contacted the revenue comissioners and they say no such form or certificate exists and that UB should accept a 'Letter Of Closure'.

Despite me then telling UB that both the Revenue and NIB say the certificate doesn't exist and that they have to accept a 'Letter Of Closure', UB insist that they have received hundreds of these certificates form Irish customers and that NIB are the only bank that does not follow the correct procedure by issuing these certificates.

Can anyone who has switched a CC to UB in the past clarify what they had to do to prove their CC stamp duty was already collected?
 
Id say they're mistaken that for an internal document.

I had a sterling account with Ulster Bank and I noticed they used to charge me for the ATM card narrative was:

GSD01 ROI DUTY 01 CARD

So perhaps GSD01/GSD001 is an internal code for something?

Most times its UK call centres that answer the phone, try call your branch / college green.
 
Found this:

http://www.revenue.ie/en/tax/stamp-duty/leaflets/stamp-duty-financial-cards.html

Switching Accounts

The Finance Act 2005 created an exemption from a second or subsequent charge to stamp duty when switching accounts within an institution, or from one institution to another. These exemptions took effect from 2 April 2005 when switching credit cards or charge cards.

Details of Switching Arrangements

If you switch accounts you should pay the stamp duty to the old Bank/Card Issuer on closing the account. It will be requested in your final statement. Your old Bank/Card Issuer will then issue you with a Letter of Closure. This letter will confirm that you have paid the stamp duty for the period in question. You should present this letter to your new Bank/Card Issuer, who will not bill you for stamp duty for that period.

Thats from Revenue so Ulster Bank are mistaken.
 
Ann1 The section you are reading is section A which relates to ATM cards. Further down in Section B there is an explaination for credit cards, which Kimmage has posted above.

I have no doubt that NIB have charged me correctly and issued the Letter of closure in the correct manner. I agree with what Kimmage says, I reckon UB are talking about either some internal documentation or mixing it up with a UK equivalent form. All the people in the credit card division and the complaints division that I have spoken to were based in the UK.
 
Thank you DMcL....I see it now ...I should have scrolled down further.
We bank with Ulster Bank here in Belfast....I will be in the bank tomorrow so I will ask what that GSD001 form is and let you know.
 
Hi DMcL
I was in my branch today in Belfast and asked my account manager and they have never heard of a GSD001. She kindly rang through to the Credit Card section in Southend and they have never heard of it either.....so it's a mystery...
 
Thank you very much for checking that Ann1.

I have raised an official complaint with UB.
I have forwarded the letter of closure and UB's rejection letter to the revenue commissioners informing them that UB are failing to comply with the switching procedure.
I have forwarded the letter of closure and UB's rejection letter to NIB's tax compliance department as they say they have had this problem with UB before and wish to raise a complaint also.

So, hopefully I have caused enough stink to persuade UB to get this sorted out. I'll keep you all updated in the coming days.
 
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