bank holiday

noun

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

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