ATM Debit Card Stamp Duty Charges in Ireland

Since January 2016 there is a Stamp Duty charge in Ireland of 12c for each ATM cash withdrawal with a debit card.

The total annual ATM stamp duty charge of 12c per transaction is capped annually at  –

  • €2.50 for a basic ATM card and
  • €5 for combined ATM/debit cards.

It is a charge made by the banks on behalf of Revenue.

This ATM stamp duty charge only applies to cards used by Irish residents

It is not charged on cards used by tourists or visitors to Ireland with an address outside Ireland. The charge is made in January each year for the previous year – and is seen as a debit on your bank account.

Prior to Jan 2016 , the stamp duty was a flat rate and not based on ATM usage Some people may not even be aware that there was already an annual government charge on ATM or Debit cards before Jan 2016. Most people, if they noticed it ,  probably assumed the charge was just another bank fee.

Overall – this stamp dauty change made no difference to most people and a possible  small reduction in 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 withdrawals in a year to run up annual stamp duty charges of €5.

Iif you go over 42 ATM withdrawals in a year you will still only be charged €5 by the government.

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

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