Bank transfers suspended for four days, employers invite you to advance the payment of March salaries

Therefore, companies will have to advance the payment of salaries for the month of March, since bank transfers will be suspended for four days starting Thursday night on the occasion of the Easter weekend, the Bank said on Tuesday. from France.

Money flows between euro area banks pass through the Target 2 system, open every day except weekends and January 1, Good Friday, Easter Monday, May 1 and 25 and December 26. Therefore, it will remain closed for more than 100 hours between Thursday, March 28 at 6:00 p.m. and Tuesday, April 2 at 2:30 a.m., says the Banque de France.

Calendars “known well in advance”

If this scenario has been repeated every year for more than 20 years, the specificity of 2024 lies in the date of Good Friday and Easter Monday: March 29 and April 1, at the time when salaries are sent to the employees. These closing schedules “are known well in advance,” underlines the French Banking Federation (FBF).

“Banks also pass them on to their corporate clients. Therefore, we can think that companies have taken the necessary measures to anticipate the transfer orders expected during this closure period, in particular salaries, so that the latter are processed taking into account this extended closure period, as every year », adds the professional federation. .

The instant transfer services offered by banks “remain operational during periods when settlement systems are closed,” concludes the FBF.

Leave a Comment