Apr 2015
26
The Banking & Payments Federation Ireland (BPFI) has issued a customer payments notice in light of Friday 1st May 2015 being a European Bank Holiday.
Friday 1st May 2015 is a European Bank Holiday; the Euro payments clearing and settlement system will be closed. Although Irish banks are open for business on the 1st May 2015 it is not possible to exchange payments with other banks. In addition Monday 4th May 2015 is a bank holiday in Ireland. SEPA Credit Transfer Bulk Files submitted with a debit date of Thursday 30th April 2015 or Friday 1st May 2015 may not be with the beneficiary bank until Tuesday 5th May 2015.
Employers due to pay wages on Friday 1st May 2015 may wish to submit their payments early to ensure beneficiary accounts are updated (credited) on Thursday 30th April 2015.
For further details on Euro payments processing over that weekend please check with your own bank.
Apr 2015
3
A common misunderstanding as we approach Easter is that Good Friday is a public holiday; Good Friday is a bank holiday but it is NOT a public holiday in Ireland. Banks are closed on Good Friday and many businesses also close, but as it is not a public holiday there is no entitlement to Public Holiday pay for this day. Many employees use a day’s holiday to have the day off.
There are ten Public Holidays in Ireland each year. Easter Monday, however, is one of the ten Public Holidays in Ireland each year. The 10 public holidays are:
• New Year’s Day
• First Monday in February, or 1 February if the date falls on a Friday
• St. Patrick’s Day
• Easter Monday
• The first Monday in May
• The first Monday in June
• The first Monday in August
• The last Monday in October
• Christmas Day
• Stephen’s Day
If the holiday falls on a day on which you normally work, you are entitled to either:
• A paid day off on the holiday
• A paid day off within a month
• An extra day’s pay
• An extra day’s annual leave
If the public holiday falls on a day on which you do not normally work, then you are entitled to one fifth of your normal weekly wage for that day.
If you are asked to work on the public holiday, then you are entitled to either:
• An additional day’s pay
• A paid day off within a month of the day
• An additional day of paid annual leave
Part-time employees qualify for public holiday entitlement provided they have worked at least 40 hours during the five weeks ending on the day before a public holiday.
Public Holiday entitlements are set out in the Organisation of Working Time Act 1997.
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