Electronic Payroll payments need to be made early for the May bank holiday weekend
Members need to be aware of some important information with regard to customer payments around the upcoming May bank holiday weekend. Friday 1st May 2015 is a European bank holiday – although a normal banking day in Ireland. As such, no electronic Euro payments can be made to bank accounts on that day. Employers, for example, who normally pay weekly wages on Friday or monthly salaries on the 1st of the month (including standing orders) will need to submit their payments to their bank by Wednesday 29th April to ensure that beneficiary accounts are updated (credited) on Thursday 30th April. If employers do not pay early, some employees may not receive their wage/salary payments until Tuesday 5th May, as Monday 4th May is a local bank holiday in Ireland.
For further details on Euro payments processing (both incoming and outgoing) over that weekend, please contact your own bank or credit union.