Bankers' call for abolition of card duty

The Irish Bankers Federation is calling for the abolition of the €40 government stamp duty on credit cards.

It claims this duty acts as a disincentive for consumers who wish to shop around. IBF spokesman Felix O'Regan, reacting to a survey by the Irish Financial Services Regulatory Authority, maintained that Ireland is the only country in Europe where the levy exists.

The Federation also claimed the findings of the credit card cost survey show general competitiveness by international standards.

It has welcomed the 25% growth rate in the number of providers and the growing range of product types.