In the 2016 Budget , government stamp duty charges of 12c for ATM cash withdrawals were introduced from January 2016.
This ATM stamp duty charge only applies to cards used by Irish residents. It is not charged on cards used by tourists/visitors to Ireland with an address outside Ireland.
This new Irish ATM charge came in alongside the removal of the old €2.50 per annum flat rate stamp duty charge on ATM cards and the removal of the flat rate €5 stamp duty charge on combined ATM & debit cards .
The total annual ATM stamp duty charge of 12c per transaction is now capped at €2.50 for a basic ATM card and €5 for combined ATM/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.
The charge is made in January each year.
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 42 withdrawals 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 fees than they would have under the old stamp duty 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
See more here about ATM Charges for American Visitors to Ireland
Read more about Business Bank Account Charges