If you’re trying to answer “do banks process payments on bank holidays in the UK”, the short answer is no.
But, there are a few nuances that you should consider, which we’ll share below.
Additionally, if you require transfers to be sent on certain days, you may want to consider opening accounts elsewhere like with banks in Malta or Cyprus.
Feel free to use the table of contents to jump ahead to the sections most relevant to you.
Table of Contents
- Do Banks Process Payments on Bank Holidays in the UK?
- Sending & Receiving Money on Regional Bank Holidays
- Frequently Asked Questions
- Ready to Explore Your Options?
Do Banks Process Payments on Bank Holidays in the UK?
Banks do not process payments on bank holidays in the UK. So, if you are expecting a direct debit or direct credit payment, it will not come out of the bank during a bank holiday. Additionally, payments are delayed during weekends since both bank holidays and weekends are not considered working days in the UK.
Of course, if you know the schedule of bank holidays ahead of time, it is possible to plan your payments around them. That said, there are times of the year when there is a higher frequency of bank holidays, such as during Christmas and Easter.
With this in mind, if you are expecting to make or receive important payments during these times of the year, it could be worth scheduling your payments ahead of time. Alternatively, if you do not schedule an earlier payment, the transaction will be processed on the following working day.
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Sending & Receiving Money on Regional Bank Holidays
As mentioned above, if you are planning to send or receive money on any of the regional bank holidays in the UK, you should expect a delay. In almost all circumstances, transfers in and out of accounts will be processed on the day after a bank holiday instead.
That said, if you absolutely require a payment to be sent on a bank holiday there could be alternative options. These alternatives include sending payments from a separate jurisdiction that does not share the same bank holidays.
Another alternative is to send or receive a transfer via the UK’s Faster Payments Service (FPS). This e-money transfer between UK banks and building societies allows payments to be sent and received instantaneously and is usually not impacted by bank holidays. That said, there are limitations on the value of the transactions that can be sent this way.
Frequently Asked Questions
Below are two of the most common questions we receive from people looking to process payments on bank holidays. If you have further questions you would like answered, don’t hesitate to get in touch with us directly.
Does a Bank Holiday Delay Payments in the UK?
Yes, a bank holiday in the UK does delay payments. If a payment is scheduled for a bank holiday, the bank will process the payment the following day. Alternatively, depending on the payment (and the payee) it may be possible to schedule the transaction ahead of time.
Do Bank Transactions Go Through On Bank Holidays UK?
If you have a direct debit scheduled on a bank holiday in the UK, the payment will not send until the following day. This is standard practice across all UK banks. This also applies to direct credit payments scheduled on bank holidays as well.
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