Ireland has its May Public Holiday on Monday May 4th. Friday May 1st however is a public holiday in many European countries.
As a result, May 1st is a non-processing day in the Single European Payments Area (SEPA). This means that payments scheduled for May 1st will not be debited or credited until the next working day which in Ireland’s case is Tuesday, May 5th. This applies even to transfers between Irish accounts.
Employers who normally pay wages electronically on a Friday therefore will have to schedule payments for the day before, Thursday April 30th, to ensure that employees receive their pay on time.
Businesses should consult their own bank’s website to ascertain specific arrangements which may affect them.
For further information, please contact us at 091 778911 or via website contact page