NIB staff to receive bonus payments for euro

Up to 700 National Irish Bank staff will receive enhanced overtime payments and a one-off lump sum for the introduction of the euro, pending the result of a ballot on the offer next week.

The deal offers all NIB staff one day’s leave or a minimum £150 payment. Up to 600 employees directly impacted by the euro will receive £600 and a day's leave (minus £150 payment in lieu of day's leave). Overtime rates will also be increased by 30 per cent in key periods.

The announcement was made by Mr Ray McGee, an independent chairman of the industrial tribunal which considered the claim. Only Bank of Ireland has still to reach a settlement on this issue and a recommendation is expected early next week.

Welcoming the decision, Mr Larry Broderick, Irish Bank Officials’ Association (IBOA) general secretary, said his union has approved a ballot on the package.

"Bank officials in Ireland will be expected to facilitate the movement of over one billion coins and half a billion notes. This huge undertaking will be made even more onerous by the fact that it will be taking place at the same time as the start of the new tax year and coinciding with the New Year retail sales," he said.