2024-03-31 11:00:14
Bank transfers have been suspended since March 28 until April 2. This risks causing a delay in the transfer of salaries for the month of March, and for some, a bank overdraft. Here’s how to avoid it and what to do in this case.
Since March 28, bank transfers have been suspended until April 2, due to the Target 2 payment system managed by the European Central Bank (ECB), usually closed on weekends and public holidays. Indeed, on Good Friday and Easter Monday, public holidays, which open and close this long weekend, the system platform will not be operational.
Consequently, thousands of employees risk not receiving, as tradition dictates, their salaries, usually transferred at the end of the month which coincides with this long weekend. Indeed, in the absence of an instant transfer or made internally during the day of Thursday March 28 which allows the money to be available in the minutes that follow, the other transfers may not be visible on the beneficiaries’ accounts before the 2 April, or even later
. Which is not to please households who are barely making ends meet. Indeed, they risk finding themselves overdrawn in the event of possible withdrawals, in particular rents and other monthly charges incurred, such as telephone subscriptions, loan repayments, or others.
Direct debits also blocked
Direct debits cannot be made either before the reopening of the system platform, because they are also suspended in the same way as transfers. So, until April 2, all you need to do is manage your wallet and your cash flow well to avoid any excessive spending that would put you in an overdraft that you yourself caused. On the other hand, the probability would increase from April 2 with the reopening of the platform, in particular with the withdrawals likely to be made from accounts before the transfer of salaries.
How to deal with an inevitable overdraft?
In this case, it is advisable to contact your bank to request authorization. “an overdraft in an exceptional manner and without prior agreement. In this case, it is most often an overdraft of a small amount and for a limited period.explains the official administration.
Failing this, it is always possible to request an overdraft authorization, the amount and duration of which will be defined in the latter in return for fees to be paid, known as agios. Most banking establishments charge a fixed minimum for any overdraft situation, regardless of its amount and duration.
If the overdraft amount used is 400 euros or more, proportional fees are also charged. These are sums calculated according to the duration and average amount of the use of overdrafts reported at an interest rate, details the official administration. Concretely, for an overdraft of 950 euros for 15 days, the amount of the proportional fees would be around 7 to 8 euros. Their withdrawals are generally quarterly.
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