No need to wait and wait for a possible notification from your bank telling you that your wire transfer has been made. It is very likely that he will not come. At least not this weekend.
Starting this Friday it will be impossible for you to make the slightest transfer, from one bank to another… The fault of the temporary closure of the payment system that allows SEPA transfers, throughout the Easter weekend.
No weekend transfers
This is not new, if you make a bank transfer on a Friday or Saturday, you generally have little (if any) chance of seeing your money transferred and credited to the receiving account before the following Monday. Easter is no exception.
This impossibility stems from the temporary closure of the Target 2 payment system, managed by the European Central Bank, and through which SEPA transfers pass, every Saturday and Sunday.
A four day break
In addition to weekends, certain holidays also see the Target 2 system paused. In 2022, in France, according to the calendar communicated by the French Banking Organization and Standardization Committee, only three days will be dealt with: Monday, April 18 (Easter Monday), a holiday in France, but also Friday, April 15, a holiday in certain French regions (Moselle, Haut-Rhin, Bas-Rhin) and in Germany, where the European Central Bank is based, and on Monday, December 26, 2022.
As of this Friday, it will therefore be impossible to expect to receive or send a SEPA transfer before Tuesday, April 19. If it was made this Thursday, April 14, it is also likely that the transfer will not reach its recipient until Tuesday.
Exception for instant transfers
If the situation is really urgent, don’t panic. It is still possible to send or receive transfers, using the so-called “instant” transfer. These go through an extension of the Target 2 system, launched in 2017. It allows funds to be transferred to a beneficiary in the SEPA zone in less than 10 seconds. A service available 24 hours a day, 7 days a week, but still payable regularly in France and, above all, limited by banks.
It is also possible to make transfers within the same bank. In fact, during periods when Target 2 is on hold, only interbank transactions (from one bank to another) are affected by the impossibility of transfers.