The Elixir settlement system, which handles interbank transfers in PLN, will have a break in its standard operation for the next few days – informed the National Clearing House. These are public holidays – December 25 and 26 and January 1. Transfers will also work slightly differently on December 24 and 31.
It was recalled that Elixir is an electronic interbank settlement system operated by KIR. Most transactions ordered by bank customers in Poland are carried out using it.
Clearing and settlement of transactions ordered in the system (transfers and direct debits) takes place during three settlement sessions, Monday to Friday, at 9:30 a.m., 1:30 p.m. and 4:00 p.m.excluding public holidays. On December 24 and the last working day of the year, two sessions will be held.
December 25, December 26 and New Year's Day are non-working days. This means that the Elixir settlement system, which handles interbank transfers in PLN, has a break in its standard functioning.
The money won't arrive until Friday
“You should therefore remember that transfers ordered on Tuesday, December 24 after 1:30 p.m. will be transferred to the recipients' accounts on Friday, December 27. Also on Tuesday, December 31, there will be two settlement sessions, at 9:30 a.m. and 1 p.m. :30. Therefore, transfers ordered after 1:30 p.m. will be transferred to the recipients' accounts on Thursday, January 2,” we read in the KIR announcement.
The Euro Elixir system, which settles domestic and cross-border transfers in euro, will operate as usual on December 24 and 31.
“Like every business day, KIR will conduct 6 settlement sessions on these days. However, the system will not work on December 25, 26 and January 1. For this system, the next settlement days during the holiday break period are December 27 this year. and January 2, 2025,” it was reported.
Instant transfers
As noted in the announcement, it is worth thinking about timely payments well in advance or using instant transfers in the system Express Elixir, which is also available to bank customers on holidays.
“The transfer of funds between accounts kept in different banks takes place in real time,” we read.
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