Your March salary payment may be delayed due to the closure of the European transfer system, Target 2, over the Easter weekend. From March 29 to April 1, bank transfers will be suspended, which could result in longer delays in payments. This information, reported by the Geek Journalhighlights a potential financial inconvenience for many employees.
The decision to suspend financial exchanges during this period stems from the annual policy of the European Central Bank (ECB), which interrupts transfer activities on weekends and public holidays. This practice aims to harmonize financial transactions on a European scale. The Easter calendar, falling at the end of the month this year, thus leads to a suspension of bank transfers for four consecutive days, Good Friday being a public holiday in several countries, but not in France.
Other possible solutions
Concretely, a transfer made on Thursday March 28 will only be credited from Tuesday April 2. However, not all types of transfers will be impacted by this suspension. Internal transfers between accounts of the same bank as well as instant transfers will remain possible.
Instant transfers, although sometimes chargeable currently, offer an alternative for those who need to transfer funds quickly and outside of banking systems’ usual operating hours or days. Note that instant transfers should no longer be chargeable in the coming months.