Bank Holidays are British public holidays when the banks are closed. They are New Year's Day, EasterMonday, May Day (the first Monday in May), Spring Bank Holiday (the last Monday in May), August Bank Holiday (last Monday in August), and Boxing Day. In Scotland, EasterMonday is replaced by the 2nd of January and the August Bank Holiday is on the first Monday in August. In Northern IrelandSaint Patrick's Day (the 17th of March) is added. In the Channel Islands Liberation Day (the 9th of May) is included.
Bank Holidays have a similar status to Sundays in that bills of exchange falling due on a Bank Holiday are postponed until the following day and also they do not count in working out days of grace. Good Friday and Christmas Day are also public holidays, but payments falling due (including bills of exchange) on these days are payable on the preceding day. When Bank Holidays fall on a Sunday, the following day becomes the Bank Holiday. Research Bank Holiday
Days of Grace are days allowed for the payment of a promissory note or bill of exchange after it becomes due. The time varies in different countries. Research Days of Grace
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Matt and Leela Probert
Abbreviations
Research Bank Holiday
