Kennedy highlights important issue for Halifax customers

Dublin North T.D. Michael Kennedy is advising former Halifax customers to be aware of a possible double charge of the Stamp Duty on credit cards if they switched their card to another bank.

“As people will be aware Halifax is closing operations in Ireland and advising customers to move their bank accounts and credit cards to other institutions.  I have become aware of a case where one person, having moved their credit card to another institution, was charged again for the Stamp Duty on credit cards,” said Deputy Kennedy.

“I want people to be aware that payment of the Stamp Duty would have been charged by the bank they’re leaving and therefore it is not payable again with the bank they have moved to.”

“The Minister for Finance has assured me that a ‘Letter of Closure’ (in this case relating to the Halifax account) showing that the stamp duty has been paid can be presented to the new bank or card issuer.  The card holder will then not be billed again within the year as he or she will have paid the Stamp Duty in closing the previous account.”

“It’s extremely important that anyone who is switching their accounts from Halifax to another institution is careful to make sure they don’t suffer any double-charging,” concluded Deputy Kennedy.