What is a Bank Holiday?

A bank holiday is a day on which a bank or banking system is closed.

How Does a Bank Holiday Work?

In the United States, banks and financial markets generally cannot be closed for more than four calendar days in a row, which puts some limits on the timing and quantity of bank holidays.

In the United States, here are some typical bank holidays (exact dates vary):

Bank Holiday1(1)

In the United Kingdom, typical bank holidays include (exact dates vary):

Bank Holiday2(1)

In Hong Kong, typical bank holidays include (exact dates vary):

Bank Holiday3(1)

Why Does a Bank Holiday Matter?

Every country has its own bank holidays, and on those days, banks do not process transactions. Deposits and withdrawals do not post until the next banking day at the earliest. Sometimes, bank holidays occur in response to emergencies.