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 Days are 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 2018 are as follows:
We will ensure that all funds received for value and accepted for your account prior to the applicable cut-off time on a Business Day are credited to your account, will begin to accrue interest and will be made available to you from the date we receive the funds. Funds received after the applicable cut-off time will be deemed to have been received by us on the next Business Day. (Cut off times range from 4:00pm – 6:00pm)
Cut-off times for all funds received is 6:00pm on a Business Day, with the following exceptions
International Payments means a payment to your account either from an account outside Ireland in any currency or from an account in Ireland in a currency other than Euro.
We will take reasonable steps to ensure that all funds transferred from your account, before 6:00pm on a Business Day to another bank, will be with the receiving bank no later than the next Business Day with the following exceptions: Currency payments processed via SWIFT have the following cut off times
|Code||Currency||Cut Off Times|
|GBP||GB Pound Sterling||3:30pm|
|HKD||Hong Kong Dollars||11:00am|
|NZD||New Zealand Dollars||11:00am|
|ZAR||South African Rands||11:00am|
*Thai Baht instructions will have a value date of two business days in the future.
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 5:00pm each day. This means that lodgements made after this time may not be included in any assessment on whether to pay such items.