"If you're due to send or receive money at the end of December, you may have to wait for the funds to arrive due a combination of European Central Bank rules and the day that Christmas falls on this year. Every weekend, as well as on certain public holidays, the payment transfer systems operated by the European Central Bank are closed. These public holidays include Christmas - bank transfers will not go through on December 25th or December 26th."
"Because Christmas falls on a Thursday this year, this means a four-day stretch when transfers will not be made. Therefore payments will not reach the recipient's bank account until Monday, December 29th. This could include salaries, if companies have regular payments scheduled for the end of the month. There are some exceptions to this - transfers between two people who both use the same bank do not need the ECB system, so will go through instantly."
Bank transfers will not be processed on weekends or certain public holidays when the European Central Bank payment systems are closed. Christmas (December 25) and the following day (December 26) are ECB holidays, so transfers will not go through on those dates. Because Christmas falls on a Thursday this year, transfers will not be made for a four-day stretch, and payments will only reach recipients on Monday December 29. Salaries and other month-end payments scheduled around these dates may be delayed. Transfers between two accounts at the same bank bypass the ECB system and will process instantly. Instant transfer options (virement instantané) operate 24/7 and will continue over the festive period.
Read at The Local France
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