European & Irish Bank Holiday Payment Changes – May 1st & 4th

News, Thursday 23rd April, by HSSCU

Dear Members,


Friday 1st May 2020 is a European Bank Holiday.  Though HSSCU will remain open, this means electronic payments cannot be made for value Friday 1st May in Ireland. As May 4th is an Irish bank holiday, anyone expecting payments into their Credit Union account on Friday 1st, may not receive the payment until Tuesday, May 5th.


It is advisable if you operate payroll deductions, etc. that you check all is in order in advance of this time.


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.


We also advise members making outward payments to third party accounts (including recurring payments) to please allow additional time for payment(s) to reach the beneficiary.


Standard payment processing cycles will apply from Tuesday 5th May.


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