What risk do you take in the event of an overdraft?

For several days, the French have been concerned about blocking transfers in a 4-day period. In question, the closure of the Target 2 payment system operated by the European Central Bank (ECB), would be effective From March 28 at 6 pm to April 2. The rare sequence of some public holidays – Good Friday and Easter Monday – and weekends put some transfers at risk.

What concerns them the most is salary, which is usually transferred to employees’ accounts between the 27th and 1st of the following month. It is possible that with this exceptional closure, Some get their salary only from 2nd, or even a little later. This delay may worry many French people who plan their monthly payments (rent, subscriptions, electricity, etc.) from the beginning of the month. But if the money does not come, it will be difficult to get it out.

Don’t panic

If you fear your account will be overdrawn for a few days, don’t worry. Transfers are suspended, but so are direct debits. If your rent is normally paid on the 1st, for example, know that funds will only be transmitted to your landlord when the Target 2 system reopens. The same goes for your credits as everything is managed by the banks and their super-efficient payment software. Safe will not work.

Can only be caused by overdraft Spend big this weekend. It is then advisable to pay regular attention to your account, postpone large purchases for a few days and if this is impossible Request a temporary overdraft authorization. Good Friday does not prevent banks from opening in France as it is not a public holiday, so you can travel there. In any case, no national and generalized system will be put in place for this exceptional situation.

If by chance you have to go through an overdraft authorization, normal fees apply depending on your bank and your contract. We all remember that suspension Not applicable on instant transfers, so if your salary is transferred during the day on 29th you are still likely to receive. It is also conceivable that your boss took the initiative to ensure that you received the services before they were terminated.

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