Friday 1st May 2020 is a European Bank Holiday therefore, although Credit Unions and Banks in Ireland are open, the European holiday means that electronic payments in EURO cannot be made for value Friday 1st May in Ireland or anywhere across Europe.
This means that anyone expecting a EURO payment into their Credit Union account on Friday 1st May, may not receive the payment until either Monday 4th May or Tuesday 5th May as, in addition to the European holiday on Friday 1st May, Monday 4th May is a bank holiday in Ireland. Members, please be advised that when making outward payments to third party accounts (including recurring payments) to please allow additional time for payment(s) to reach the beneficiary.
In addition, the Banking & Payments Federation Ireland (BPFI) has issued advice to employers to allow additional time for payment(s) to reach the beneficiary. Employers who normally pay weekly wages into employee’s accounts on a Friday, or monthly salaries on the 1st of the month, will need to submit their payment requests to their bank by Wednesday 29th April with a value date of Thursday 30th April. This is the only way to ensure that funds are available to employees on Friday 1st May and over the weekend.
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.
Standard payment processing cycles will apply from Tuesday 5th May.
If you have any further questions, please do not hesitate to contact us at 01 820 3495 or email@example.com