ATM Debit Card Charges in Ireland

As part of Budget 2016 ,  a stamp duty charge of 12c for ATM cash withdrawals was introduced in January 2016.
Of course – some people heard this and assumed that it was   “new debit card charges in Budget 2016 “- but there’s more to this …..
This new ATM charge came in alongside the removal of the old €2.50 per annum stamp duty charge on ATM cards and  the removal of the  €5 stamp duty charge on combined ATM & debit cards .
The annual  total ATM charge of 12c per transaction will be capped  at  €2.50 for a basic ATM card and €5 for debit cards. Some people may not even be aware that there was already an annual government charge on ATM or Debit cards. Most people, if they noticed it ,  probably assumed the charge was just another bank fee.Overall -this alteration meant no change for most people and a possible  small reduction in debit card stamp duty for others. It was introduced to try and reduce the use of cash.

If you have a full debit card – you would need to do  42 ATM transactions to run up annual stamp duty charges of €5 – if you go over that you will still only be charged €5 by the government.   Anyone who withdraws cash from an ATM  less than 41 times  a year will end up paying less in stamp duty than under the old system .

Important : This government charge on debit cards and ATM cards should not be confused with the charges that many of  the banks make when you use an ATM (sometimes  as much as 35c !)
See more here about Bank Charges in Ireland

So – just to clarify – the ATM  charge is 12c per cash withdrawal with a cap of €5 in a year  if used as both an ATM and a Point of Sale card. This will be charged annually by your bank  for the previous year.

The ATM charge will only apply to cards used by Irish residents (the same as the stamp duty charge) . It will not be charged on cards used by tourists/visitors with an address outside Ireland.

2 thoughts on “ATM Debit Card Charges in Ireland

  1. Never knew that about ATM’s charges, always thought it was included in the bank charges (which by the way are over the top), if they want us to have no cash in our pockets and use ATM’s with our cards all the time they should be NO CHARGE, especially as I blame the banks for this financial mess we are in…..

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