What is a bank holiday?And how do we get that in the US? |
A Bank Holiday is a public holiday in the United Kingdom and also in the Republic of Ireland. Although there is no legal right to time off on these days, the majority of the population not employed in essential services (e.g. utilities, fire, ambulance, police, health-workers) receive them as holidays; those employed in essential services usually receive extra pay for working on these days. Bank holidays are so called because they are days upon which banks are (or were) shut and therefore (traditionally) no other businesses could operate. Legislation allows certain payments to be deferred to the next working day.
It has been noted (for example in an essay published by the Fabian Society) that the number of holidays in the UK is relatively small compared to the number in many other European countries. There have been calls for an increase in the number, and particularly for recognizing April 23 (St George's Day) in England, March 1 (St David's Day) in Wales, and November 30 (St Andrew's Day) in Scotland to have a public holiday on the feast day of the relevant patron saint. 17 March (St Patrick's Day) is already a bank holiday in the Republic of Ireland and Northern Ireland. There are also calls for new national bank holidays such as one to represent the United Kingdom, British Day (possibly part of Gordon Brown's new Britishness policy), Trafalgar Day as a result of the recent bicentennial, Waterloo Day and also one to represent the European Union, making Europe Day a bank holiday, and one to represent the monarchy such as the Queen's Birthday (as in Australia and New Zealand) or coronation.
A Bank Holiday is the day, The Banks are on a Holiday !
Whats so ambiguous about it ?
Take Care and God Bless !
A bank holiday is normally a 1 day holiday that someone in power (i.e. Queen Elisabeth from Uk) declares to celebrate an important event
a holiday for banks
LMAO We do have "Bank Holidays" in the U.S. You know all "Federal" Holidays are observed by the banks, therefore they are closed.
it's any holiday where the banks are closed.
I think it's the same thing as a statutory holiday.
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