December salaries could be delayed in Germany due to ECB closure

Due to when the Christmas holidays fall this year, bank transfers in Germany may face a four-day processing delay at the end of December. Here’s what you need to know:

ECB systems out of action over holidays

Bank account holders in Germany and other European countries have been warned that money transfers may face a delay at the end of December.

This is because the European Central Bank’s (ECB) processing services are out of action on public holidays and weekends. Because the December 24 and 25 holidays fall on a Thursday and Friday, customers’ transfers may be delayed by a total of four days.

This means that you might receive your salary payment later, or your rent may be taken after the four-day period.

Which bank transfers are not impacted by ECB closures?

Not all payment transfer types are impacted by the ECB closures. For example, payments between two individuals who have accounts with the same bank will not be impacted.

Instant transfers will also be unaffected. Be aware that some banks allow customers to make instant transfers for free, while others may charge a fee for the convenience.