bank holiday

noun

|Updated on: 1 Jun 2018

Definition of bank holiday

1 British : legal holiday

2 : a period when banks in general are closed often by government fiat

See bank holiday defined for English-language learners

Recent Examples of bank holiday from the Web

In Britain, markets will also be closed on Monday for the spring bank holiday.

— New York Times, "U.S. Markets Close for Holiday, and May Jobs Numbers Come Out," 27 May 2018
William and Kate’s wedding was also declared a bank holiday in the United Kingdom, giving many citizens the day off work to partake in the festivities, while Harry and Meghan’s was not.

— diana pearl, PEOPLE.com, "Casual vs. Formal! Comparing Harry and Meghan's Official Wedding Portrait with William and Kate's," 21 May 2018
Soak up the bank holiday rays from one of our hot-tubs in the Spa this weekend.

— rachel epstein, Marie Claire, "Meghan Markle's Mom Is About to Meet the Queen for Tea," 18 May 2018
Monday’s moves in metals were muted with the London market closed for a bank holiday.

— amrith ramkumar, WSJ, "Gold Edges Lower With Dollar Rallying," 7 May 2018
The first weekday after Christmas in the United Kingdom, Canada and several other Commonwealth countries is an official bank holiday.

— editors, USA TODAY, "5 things you need to know Tuesday," 26 Dec. 2017

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'bank holiday.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

First Known Use of bank holiday

1778

in the meaning defined at sense 1

See Words from the same year

NEW! Time Traveler

Financial Definition of BANK HOLIDAY

bank holiday

noun

What It Is

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

How It Works

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):

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

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

Why It Matters

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.

Source: Investing Answers