Sepa transfers between two different banking establishments will not be possible due to the closure of the Target system. This will particularly concern regular transfers such as rent or salary payments.
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A Christmasthe functioning of banks will have an impact on banking operations. Sepa transfers between two different banking establishments will be suspended between December 25 and December 28 inclusive due to the closure of Target 2, the payment system used by EU banks to transfer funds between them, according to the calendar of the European Central Bank.
Money flows between euro zone banks pass through the Target 2 system, open every day except weekends and during a few times of the year: January 1, May 1, December 25 and 26, as well as Good Friday and Easter Monday. This will particularly concern regular transfers such as the payment of salaries or rent. If you send a SEPA transfer on Thursday December 25, it will arrive on Monday December 29.
Instant transfer services will remain possible, as will so-called transfers “internal”within the same bank. It will therefore still be possible to carry out certain banking transactions during the Christmas period.
