# Why do banks close on bank holidays?



## Westy (18 Jul 2007)

I have often wondered why banks operate with such inconvient opening hours. I certainly would consider moving banks to one that would offer out of holiday / late evening banking.
Does anyone know why this is not happening?
If it is not allowed does anybody know why?


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## CCOVICH (18 Jul 2007)

*Re: Why do banks close on bank holidays??*

Ask the IBOA.


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## Erasure (18 Jul 2007)

*Re: Why do banks close on bank holidays??*

I could understand this query a few years back but in this day and age with internet and phone banking so handy to use why would you want to go into a bank anyway regardless of their hours?


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## CCOVICH (18 Jul 2007)

*Re: Why do banks close on bank holidays??*

Some (all?) Halifax branches open outside regular hours-I just looked at their site and the Crumlin branch appears to be open on Sunday (and 8-8 weekdays, 9-5 Saturdays)!


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## ClubMan (18 Jul 2007)

Because bank holidays are bank holidays.
Many, but not all, are also public holidays.


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## Purple (18 Jul 2007)

ClubMan said:


> Because bank holidays are bank holidays.



Yes, but I think the OP wants to know why the banks get special holidays. Retail outlets are open on public holidays so why not banks?
My hunch is that it's because they operate in a less than free market and therefore make plenty of money and have a heavily unionised workforce.


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## Sherman (18 Jul 2007)

Westy said:


> I have often wondered why banks operate with such inconvient opening hours. I certainly would consider moving banks to one that would offer out of holiday / late evening banking.
> Does anyone know why this is not happening?
> If it is not allowed does anybody know why?


 
Until very recently, the big four banks have enjoyed an effective monopoly on the provision of banking services. As a result, they have persisted with their 'like it or lump it' mentality regarding a whole range of issues, from ridiculously poor value products to their 'suit themselves' opening hours.

As pointed out, Halifax do now open at far more convenient times. The only way the others follow will be if people actually do switch to Halifax. Of course our banks can rest easy, safe in the reliance on the Irish consumer's legendary lethargy when it comes to actually carrying out on our threats to move our custom!


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## Jaid79 (19 Jul 2007)

Sherman said:


> Until very recently, the big four banks have enjoyed an effective monopoly on the provision of banking services. As a result, they have persisted with their 'like it or lump it' mentality regarding a whole range of issues, from ridiculously poor value products to their 'suit themselves' opening hours.
> 
> As pointed out, Halifax do now open at far more convenient times. The only way the others follow will be if people actually do switch to Halifax. Of course our banks can rest easy, safe in the reliance on the Irish consumer's legendary lethargy when it comes to actually carrying out on our threats to move our custom!


 

Hi! ho! hi! ho! its of to the Halifax I go My bank is a joke (1 of the big 4), when I need to go the waiting time is insane. I found the bank system in the uk much better, maybe now the worm is turning in Ireland.


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## shirley_d (20 Jul 2007)

I'm actually quite happy with AIB, I'm finding these days there is very little I can't do over the phone or on the internet and by post.


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## Madangan (20 Jul 2007)

I dislike banks and have never worked for one(so no conflicts) but why should they open on Bank holidays, or Public holidays?

Why dont we all just work 365 days a year from now on and keep  everyone happy. God forbid that we should have to organise our lives  around opening hours. 

Aagh dont mind me Im in a bad mood cos its still raining


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## Perplexed (20 Jul 2007)

A lot of other occupations get bank holidays off too. Should you not be grateful to the banks for introducing them in the first place ?
As a banker I'd just like to say one thing. For those of us in the lower echelons we actually have a lot less holidays than most occupations.
We on the coal face of banking have to try & do a job often under great pressure. We're not the ones who get the €4m bonuses !
You'd be amazed at the number of people who clog up queues who need never even visit the branch to do their business. I've come to the conclusion that Irish people must love queueing !
I do my own banking online in the comfort of my home & it's so much easier than filling out dockets .....


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## Winnie (20 Jul 2007)

*Re: Why do banks close on bank holidays??*



Sammie110 said:


> I could understand this query a few years back but in this day and age with internet and phone banking so handy to use why would you want to go into a bank anyway regardless of their hours?


 
Yes but sometimes you need to lodge a cheque/get a bank draft/meet with staff to get loan etc.  
I agree it is a lot easier these days & I do 99% of my banking on line but some times you just need to go in....................
Think it would be good even if they could do late night thursdays or something.........


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## Perplexed (20 Jul 2007)

Winnie.
I totally understand your situation & I am not being scathing of people who do genuinely have a need to visit their bank.
If the majority of people did their banking online then if would free up staff to have more time to devote to the people who genuinely need it.
This would make banking a much more pleasant experience on both sides of the counter.

I would quite happily work late one evening if my employers would see fit to pay me properly for it.


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## Jaid79 (25 Jul 2007)

Perplexed said:


> As a banker I'd just like to say one thing. For those of us in the lower echelons we actually have a lot less holidays than most occupations.


 
How many hours a year do you work? "a lot less" "than most occupations"



> You'd be amazed at the number of people who clog up queues who need never even visit the branch to do their business.


 
So how often do you ask these people if they have internet access? Can you open an account on line?


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## Perplexed (26 Jul 2007)

I personally work approx 1650 hours per year - that works out at the guts of 32 hours per wk even after allowing for 24 days holidays &  the 10 Bank Holidays.

Don't tell me that some people still suffer from the delusion that we only work the hours that the banks are open ! Work begins at 9.30 & doesn't finish till 5.30 ....on a good day.

You can't open an a/c in any Financial Institution over the internet until you send in all your Anti-Money Laundering details........same Financial Regulator Rules apply to us all....

We do point out to people the alternative ways of doing their banking, giving them brochures to explain how they can save on charges & fees & to help speed up things in any way we can.


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## Jaid79 (26 Jul 2007)

Perplexed said:


> I personally work approx 1650 hours per year - that works out at the guts of 32 hours per wk even after allowing for 24 days holidays & the 10 Bank Holidays.
> 
> Don't tell me that some people still suffer from the delusion that we only work the hours that the banks are open ! Work begins at 9.30 & doesn't finish till 5.30 ....on a good day.
> 
> ...


 
Your working hours seem to be very reasonable, I start at 8 and finish at 5 and thats on a very good day. So I think this is the norm for most ocupations.

So no I am not trying to tell you "that some people still suffer from the delusion that we only work the hours that the banks open!" thats the problem the banks dont open the hours we work or indeed dont open out side of the hours most people work. Hence the long ques, this is not an attack on you or the person that works behind the counter but the bank itself. Hopfuly the people in Ireland will show there dis-taste for such things and move to the like of Halifax.

Jaid


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## purpeller (26 Jul 2007)

My local branch of AIB does actually open on Saturday but the actual banking that can be done in the bank on that day is laughable.  You can use the atm and the quick lodge machine and you can open new accounts.  You can't meet to discuss loans/mortgages, etc, you cannot transact with a real person or get foreign exchange.  I asked them what was the point of paying staff to open the branch for 4 hours and the answer was "to deal with new business".  They looked kind of sheepish.


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## Perplexed (26 Jul 2007)

Thanks Jaid.....glad it's not personal. Sometimes I wonder why I defend an organisation that I don't always believe in myself !

Just think about it though. If the banks had to employ more staff to keep open for longer hours, who do you think would end up paying for it in extra charges ?

As purpeller said, if they do open it will probably only be for new business etc


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## Purple (27 Jul 2007)

Perplexed said:


> I personally work approx 1650 hours per year - that works out at the guts of 32 hours per wk even after allowing for 24 days holidays &  the 10 Bank Holidays.
> 
> Don't tell me that some people still suffer from the delusion that we only work the hours that the banks are open ! Work begins at 9.30 & doesn't finish till 5.30 ....on a good day.


I work 52.5 hours a week, get up to 20 days holidays (and get calls and emails every day when I’m on them) and might get the10 bank holidays. I will also work about 1 weekend day a month. I don't count work done at home at night. So I find it hard to have sympathy for someone with a 32 hour week and loads of holidays. That said it's not easy to deal with the public all day in a bank and the pay is rubbish but it’s not exactly Dickensian drudgery.
The reality is that most businesses open to suit their customers, not themselves. Why don't banks open standard shop hours?


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## Westy (27 Jul 2007)

All I was thinking that in a compeditive market place, an easy way (in the past / before internet was so popular) to get a lager customer base would be to open hours that suit your customers. Since banks always seem to be competing for each others buisness I was just wondering was their some law (or other reason) besides the obvious inconvience, that no bank steped up to the plate and used this great opening hours to attract a nitch market. 
Maybe the thinking was that as far as major amounts of money are concerned people are prepared to make the effort to fit around the banks schedule. And the banks make most of their money from major customers??


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## Perplexed (27 Jul 2007)

Westy. I think you've hit the nail on the head. Not all customers are profitable for banks.
The cost of extended opening hours would probably outweigh the benefits that might be gained from it.
Purple I bet you also earn 3 - 4 times my salary & you'll be able to retire early on a good pension. You must really enjoy your work if you make yourself available even when on your hols...


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## paddyodoors (30 Jul 2007)

Is 9:30 to 5:30 not a 35 hour week (assuming 1 hour for lunch)?


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## shanegl (30 Jul 2007)

Perplexed said:


> Westy. I think you've hit the nail on the head. Not all customers are profitable for banks.
> The cost of extended opening hours would probably outweigh the benefits that might be gained from it.
> Purple I bet you also earn 3 - 4 times my salary & you'll be able to retire early on a good pension. You must really enjoy your work if you make yourself available even when on your hols...


 
Halifax seem to manage it ok. I was delighted to give them my business.


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## CCOVICH (30 Jul 2007)

Are Halifax employees members of the IBOA/Impact?

Or would they be in SIPTU (as some would previously have been employed in ESB shops)?

Are Halifax using longer opening hours as a 'loss leader' to attract business?


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## Perplexed (31 Jul 2007)

paddyodoors said:


> Is 9:30 to 5:30 not a 35 hour week (assuming 1 hour for lunch)?



Yes,it is a 35 hour wk,  but I was meaning after holidays/bank holidays are taken  into account.   

CCOVICH.  Not sure if they're members of the IBOA. A lot of these special deals are loss leaders. It's generally wise for people to take the whole picture into account when looking at their banking costs.  I know for a fact that some of the banks that offered best % Mortgage rates had as a stipulation that you had to open a current a/c, which had quite hefty charges. It's always wise to read all the T & C's before you sign up for anything.


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## nlgbbbblth (4 Aug 2007)

The majority of Halifax employees who belong to a union are members of Amicus or Siptu.

Job-hoppers from other banks now with Halifax may be members of IBOA.

Widespread Saturday opening for the 'big four' is unlikely given that the majority of IBOA members would probably vote against it.
There are plenty of occupations that are Monday to Friday - not just banking.


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## miselemeas (5 Aug 2007)

Interesting fact about why bank holidays were estabished in the first instance (might come in handy if you're ever on  "Who... a Millionaire") - at http://en.wikipedia.org/wiki/Bank_Holiday


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## Gordanus (5 Aug 2007)

In the early days of the last century (1900s), bank employees started work at 10am.


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## Perplexed (6 Aug 2007)

Thanks for that bit of miselemas. It just struck me that Westy wants banks to open on bank holidays so that when HE has the day off, because of holidays originated by banks, he wants to be able to do his banking !


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## Westy (16 Aug 2007)

Perplexed. This time you have hit the nail on the head


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