Responding to the publication last week of a survey looking at the various costs associated with credit cards in Ireland, the Irish Bankers Federation (IBF) called on the government to abolish the EUR40 stamp duty charge on credit card ownership.
The study, conducted by the Irish Financial Services Regulatory Authority, examined the interest charged by the main credit card providers in the Republic, and included details on fees and charges levied by the various providers.
Speaking to the national media, IBF spokesman Felix O'Regan argued that the stamp duty payment acts as a disincentive for those who want to shop around for a credit card, further observing that Ireland is the only EU member state in which such a levy exists.
However, the Federation welcomed the fact that the survey's findings suggested that the Irish credit card industry is generally competitive on an international level.
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