American Express Blue Card

I'm going to jump for the AIB Platinum card. Am I right in saying that I don't have to pat stamp duty if I transfer my account rather then opening a new one. Is it just a matter of calling into my local AIB branch?

Thanks

You'd have to check with Revenue for the precise details, but when your Amex account is closed, ensure you get the Letter of (?) Completion, or something? Then when you open your new account forward this letter to your new issuer. They'll probably still charge you the stamp duty but will refund you at a later date. This was my experience when I switched from AIB Mastercard to Amex Blue.
 
http://www.revenue.ie/en/tax/stamp-duty/leaflets/stamp-duty-financial-cards.html#sectionb

Details of Switching Arrangements
If you switch accounts you should pay the stamp duty to 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.
 
Do any other cards offer similar cashback services, or have any other banks been awarded the amex franchise?
 
Do any other cards offer similar cashback services, or have any other banks been awarded the amex franchise?

Post #40 on page 2 of this thread links to a newspaper article which lists other cash-back cards. I haven't heard of any other bank taking over the American Express card.
 
Perhaps when BOI contact their customers in Sep to offer an alternative it will be their own branded cash-back card.
 
Perhaps when BOI contact their customers in Sep to offer an alternative it will be their own branded cash-back card.

Spoke with Bank of Ireland and cancelled my VISA with them.

They offered me a 0% finanace card instead. I advised not interested as I wanted the moneyback similar to the AMEX.

They said that they have no plans to introduce such a card and proceeded to process my cancellation.
 
I received a reply to my formal complaint and being dissatisfied I've submitted it to the Ombudsman.
 
If you don't mind me asking, why did you cancel your Visa?

I will switch to AIB platimum card. As far as I understand it is the only card on the market that gives cashback as oppossed to collecting points.

With the additional stamp duty and the fact that VISA is unversially accepted, I didn't see the need to have two VISA cards.

Also wasn't interested in keeping my custom with Bank of Ireland after they withdrew the AMEX card.
 
I wrote closing the Amex Blue a/c on 1st September and am waiting for the letter of closure I requested from BoI so that I can forward it with my application to AIB for their platinum VISA card. I'll then be closing my BoI MasterCard once the VISA account is up and running satisfactorily.

A petty gesture, I know — but hey, so was their refusal of a goodwill pro rata refund of the stamp duty. When banks give shoddy service, like any business, they deserve to lose custom.
 
I didn't send a notice to BoI. Publication on AAM is enough as far as I am concerned.

I will not be needing an additional credit card when they terminate my existing AMEX.

Shoddy practice by the BoI management team is not welcomed by those of us who have had Amex cards for a number of years.

BoI: Thanks for the past Amex. I will not be requiring your services as a credit card provider in the future - unless you match the 1% cashback that was provided by AMEX. Indeed, I will have to monitor all of your existing services and look at their relevance in relation to my needs.

Marion
 
The final insult from BOI in this month's Amex Blue bill - the main feature on the 'Cardholder INformation' page at the back (what a waste of paper that has been over the years) is 'GET MONEYBACK - Everytime you spend you can actually earn Moneyback blah blah blah'. Talk about rubbing salt in the wound.

These people are dumb as squirrels.
 
Yep, I noticed on the statemements yesterday that they still included the "get 1% cashback" notice on the waste of space page they include with every statement. Joined up thinking . . . I don't think so.

You would think they might even have a notice about other BOI cards which are available, although I guess from the lack of advertising on that page in general that maybe Amex didn't let them advertise alternative products.

I haven't cancelled my other card with them yet, primarily though the inertia factor, although I will be keeping a close eye out on offers that may come up. I noticed (remembered) the other day that my other card is an affinity card for an organisation I don't particularly support any more. All these years they've been getting a teeny tiny proportion of my spend. I think I might move it to another affinity card (preferably one where I'm the beneficiary) when the Amex finally goes away.

z
 
Got a declaration form today to be signed and returned, including a clause acknowledging that ‘a debit (if applicable) will be applied to my account in respect of the government stamp duty for the current financial year’.

I'll be voting with my feet and closing my BoI MasterCard a/c as soon as I can open another one elsewhere.
 
Dr, does that declaration make you think you have to sign to give them permission to take a DD rather than them being 'obliged' to take a DD for the GSD?
 
I closed MBNA Visa card recently and was charged the stamp duty that would have been applied in April 2010, I was shocked by this, but checked into it ( confirmed by another post on this forum).

Just to make everyone aware, The way the revenue obligation works, as soon as you use your card even once after April 2009, you have incurred the €30 stamp duty, which then normally gets retrospectively applied to your account in April 2010, or before if you close your account.

So theoretically you could pay yor 08/09 Stamp duty of €30 on April 1 2009, use your card once on April 2 and close your account on April 3 and immediately be charged €30 for 09/10, No way revenue are going to lose out,;-).

So when our Amex blue cards close in Nov. BOI will be obliged to apply the €30 to our accounts for revenue, which we will be obliged to pay.

BOI should give us a letter saying we have paid the 09/10 duty, so now if you open another credit card account, you can supply the proof of having discharged your revenue obligation for 09/10 on the closed account, and you should not be charged €30 again in April 2010 for the new account.
 
Dr, does that declaration make you think you have to sign to give them permission to take a DD rather than them being 'obliged' to take a DD for the GSD?
No, I don't think so. RSMike sums it all up. The declaration form contains a lot of other stuff about having to clear the outstanding balance in full, absolving the Bank of any liability vis-à-vis third party DDs I might forget to cancel, etc.

BOI should give us a letter saying we have paid the 09/10 duty, so now if you open another credit card account, you can supply the proof of having discharged your revenue obligation for 09/10 on the closed account, and you should not be charged €30 again in April 2010 for the new account.
This is what I'm waiting for. I could just leave my BoI MasterCard in place until March and close it then, but why wait? The sooner I switch to another card with a reward scheme — probably the AIB Platinum VISA, as things look — the sooner I start earning points.
 
Revenue state the GSD charge must be paid by the bank who issues the card but there is a misconception out there that the bank is obliged to collect it from the customers account. They are not.

AMEX Blue has been cancelled by the bank not the consumer.

Bank of Ireland say it is 'their policy' to collect the charge and that they will do so even if it is they who chose to close the account.

To make such a charge on the consumer is unjustifiable and unfair.
 
Hi Sumatra

We are all looking forward to your response from the Ombudsman.


Regards

Marion
 
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