Bank transfers: will they pass on May 8, May 18 and May 29?

Long weekends to enjoy sunny days. The month of May is particularly generous in terms of public holidays and this year they fall very well! May 1 was a Monday, so May 8 will be one too, followed by Ascension Thursday (May 18) and Whit Monday on May 29! What to take advantage of three days of rest to get some fresh air and escape a little from everyday life.

This good news may upset some of your plans, especially if you have money transfers to make. Indeed, as you know, banking services do not work seven days a week or 24 hours a day. Bank transfers, for example, can only be made on working days and public holidays are of course not included. … But there are exceptions.

Did you have money to transfer this weekend? You have surely noticed that your transfer was not effective before Tuesday May 2, if you made it for example on Friday April 28 in the evening or even on Saturday April 29. As Planet explained to you in April, the European interbank system was closed on Monday May 1, thus forcing individuals to transfer money before Friday April 29 or from Tuesday May 2. You had no way around it, since all transfers from one bank account to another go through this system.

Will the same situation repeat itself this weekend? Do you have to make your transfer request this Thursday, May 4 to be sure that it passes before the long weekend? Not necessarily… We explain everything to you.

Monday, May 8 being a public holiday, will you have to make your arrangements? Well no. Like every Monday, your bank will keep its doors closed, but the European interbank system will work! May 8 is not a day when the service is closed. If you need to make a transfer for the beginning of next week, you can therefore do it on Friday or Saturday, so that it is effective Monday May 8 at the earliest, or even Tuesday May 9. So don’t panic!

What about the last two public holidays in May? Will the interbank system be operational or not?

There are still two holidays left before the end of May, Thursday May 18 and Monday May 29. Just like Monday 8 May, these two days will not be idle for the European interbank service. Indeed, the website of the European Central Bank specifies that TARGET will be open during Ascension and Whit Monday. Here are the next closing days:

At Christmas, you will have to take precautions so as not to miss an important transfer of money. Indeed, the European interbank service will be closed for two days during the holiday season, one Monday and one Tuesday. If you add Saturday and Sunday, then TARGET will not run for four days at the end of the year. I promise, we’ll talk about it when the time comes.