Tag: Payroll
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Israel Salary Delay on Yom Kippur Boosts Bank Revenue
Overview: Israel’s October payroll faces an unusual delay The current year features a noteworthy Israel salary delay caused by Yom Kippur overlapping with the typical payroll cycle. This year, the eve of Yom Kippur falls on October 1, the day when many Israelis expect to receive September wages. Unfortunately, because the Bank of Israel’s payments…
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Payroll Delays on Yom Kippur: Why Israeli Banks Profit This Year
Payroll delays on Yom Kippur: what happens when the holiday collides with payday In Israel, the timing of paid salaries can collide with religious and public holidays. This year, Yom Kippur begins on the evening of October 1, a Friday. For many workers, the September salary was scheduled to land on that day. However, the…
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Why Israeli Banks Profit From Delayed Salaries on Yom Kippur
Introduction: a timing quirk that benefits banks In Israel, the convergence of a major religious holiday and the payroll calendar is revealing an unexpected flank of the banking system’s revenue. When the eve of Yom Kippur falls on October 1, many employees expect their September salaries to be in their accounts that same day. However,…