[Global Calendar #01] What Are Bank Holidays? – A Global Guide to Public Rest Days and Why They Matter
Curious about bank holidays? Learn what they are, how they differ worldwide, and why they still matter in today's global and digital world. 📌 Table of Contents What Is a Bank Holiday? Bank Holiday vs. Public Holiday Why Do Bank Holidays Matter? The Globalization of Holidays FAQ Conclusion What Is a Bank Holiday? A bank holiday is a legally recognized public holiday during which banks and many other businesses are closed. The term originated in the United Kingdom with the Bank Holidays Act of 1871 . Initially, it referred to specific days when financial institutions were required by law to shut down. Over time, the term evolved to mean general public holidays, even in sectors beyond banking. In modern contexts, bank holidays affect various sectors, including government services, schools, and financial markets. They are usually planned and announced in advance by national governments or financial authorities. Bank Holiday vs. Public Holiday – Is There a ...