In our General Terms and Conditions booklet we set out the contractual provisions relating to our processing of lodgements and payment instructions. These provisions make reference to “Business Day” and “cut off time”.
Business Day is defined in the conditions as a day (other than a Saturday, Sunday, public holiday or bank holiday) on which the Bank’s branch network is generally open for business in the Republic of Ireland.
Bank Holidays in 2017 are as follows:
Cut off times for the purpose of receipt of payment and transfer instructions and for the processing of lodgements is 6.00pm on each Business Day, with the following exceptions:
For Direct Debits and cheques debited from accounts which cause the accounts to be overdrawn or in excess of any agreed overdraft limit, the Bank makes a decision on whether to return these items as unpaid based on the balance in the account at approximately 5pm each day. This means that lodgements made after this time may not be included in any assessment on whether to pay such items.