May Bank Holiday – ROI CU Processing

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May Bank Holiday – ROI CU Processing

The European Mayday Bank Holiday is on Tuesday 1st May and the Irish May Bank Holiday is on Monday 7th May this year.

As Tuesday 1st May 2018 is a European bank holiday (although a normal banking day in Ireland), payment files will not be processed by EBA on that day. Therefore, there will be no incoming files sent to credit unions on 1st May and any outgoing files forwarded by credit unions on that day will not be processed until the morning of the 2nd May.

Dept. of Social Protection now known as Department of Employment Affairs and Social Protection (DEASP) are paying child benefit and all but one scheme areas a day early. Casual Jobseekers are due to be paid on the 1st May, but they are delaying them to the 2nd May.

Monday 7th May operates as a normal Irish Bank holiday.

Please see further details below:

Incoming Credits to Credit Union

April 30th (Monday)
Normal transaction processing of incoming credits takes place. CUSOP will deliver the afternoon payments to the Credit Union as normal.

May 1st European Bank Holiday (Tuesday)
European Payment system is closed – there will be no incoming credits to Credit Unions on the 1st May.

May 7th Irish Bank Holiday (Monday)
Banks, CUSOP and credit unions will be closed. However as Euro payment systems are open, files will be delivered through the CUSOP system at the normal processing times in the morning and afternoon.

Outgoing Credits from Credit Union

April 30th (Monday)
Transaction processing on the 30th of April will be normal for outgoing credits. In the afternoon file, the settlement date should be 2nd May.

May 1st European Bank Holiday (Tuesday)
CUSOP will be open as normal to take payments from Credit Unions, but these payments will not be processed until morning of 2nd May as the European Payment system is closed.
The settlement date for these payments should be 2nd May.

May 7th Irish Bank Holiday (Monday)
Banks, credit unions and CUSOP will be closed. However, if any files are delivered to CUSOP (Friday evening, Saturday or Monday) they will be accepted subject to normal processing criteria.

Outgoing Direct Debits

Outgoing Direct Debits should not have a processing date of 1st May, in accordance with scheme requirements.

Your IT service provider has been given the information outlined above. If you have any queries in relation to this please do not hesitate to contact us.

2018-04-25T12:12:14+00:00 April 24th, 2018|Latest News|Comments Off on May Bank Holiday – ROI CU Processing

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