Staff at Ulster Bank have secured special payments to implement the euro changeover. The move follows news that staff at AIB are in line to earn as much as £2,000 (€2,540) in payments and overtime over the changeover period. Staff at both banks will begin to ballot on the recommendation next week.

Independent industrial tribunals are considering whether similar payments should be made to staff at Bank of Ireland and National Irish Bank, with a ruling expected within days.

Mr Ray McGee, who chaired the tribunal considering the Irish Bank Officials' Association (IBOA) claim for a euro payment, recommended that Ulster Bank staff should receive payments in line with those at AIB.

Staff will be paid the equivalent of one day's leave or a minimum of £150 for co-operating with the changeover to the new currency.

In addition, staff directly affected by the changeover will receive a further £600, with the vast majority of Ulster Bank staff expected to qualify.

The tribunal also recommended a 30 per cent enhancement in the value of overtime worked between December 27th and January 7th.

Commenting on the outcome yesterday, IBOA general secretary Mr Larry Broderick said the decision vindicated the trade union's position on the euro and totally undermined that taken by the employers group, IBEC.

"The IBOA has a serious concern at the recent attack on this organisation and on bank officials last week and viewed it as a deliberate attempt by IBEC to interfere in the internal dispute resolution machinery of AIB, in particular, and the banks in general," Mr Broderick said.

Staff working at security firms will also get a euro payment for working during the changeover period.

Employers have agreed to make a special £800 payment to 350 cash-in-transit staff who will supply ATMs on January 1st, 2002.

Most of the workers are also expected to receive a further £2,000 for postponing annual leave days and bank holidays between November 1st and February 28th, 2002.