Wages Should Be Paid Early This Week Because of May Bank Holiday

For some of those people still in work – there could be a change to the day that wages are paid into banks this week because of Bank Holidays.

This year the May Day bank holiday in the rest of Europe falls on a Friday May 1st – while Monday May 4th is a bank holiday here in Ireland.

The SEPA system of payments will not operate on Friday – so no automated payments can be made into banks on that day.
Irish banks are not open on Monday 4th May – so no payments will be credited to accounts on that day either.

So this means that companies who normally pay staff at the end of the week or on the first of the month will have to make payments a day earlier than usual.

In many cases if people’s wages are not paid into their bank on Thursday , they will not receive their wages until Tuesday 5th May

Employers have until Wednesday evening to amend payments for staff to take account of these upcoming bank holidays in Ireland and Europe to ensure workers receive salaries on time.

Banks should have contacted employers weeks ago to remind them to make arrangements to ensure staff are paid on time.

Social Welfare payments due to be paid to bank accounts on Friday or Monday should also be paid in advance on Thursday . (although Welfare do not seem to have confirmed this at the time of writing) .
See – May Bank Holiday Welfare Payments 2020

P.S – The UK May Bank Holiday is Friday May 8th !