Bank Holidays

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What are Bank Holidays?

They are days when, by Royal Proclamation or by the Banking and Financial Dealings Act 1971, banks are entitled to close. “Bank” and “Public” holidays are used interchangeably but they are basically the same thing. They can be specified by Royal proclamation as well as by legislation but the main law is the Banking and Financial Dealings Act 1971.  There are other pieces of legislation including;

• The Christmas Day (Trading) Act 2004 
• The Working Time Regulations 1998 (SI 1998/1833) 
• The Working Time (Amendment) Regulations 2007 (SI 2007/2079)

There are six bank holidays and two public holidays a year which are;

1. New Year’s Day
2. Good Friday (public holiday)
3. Easter Monday
4. First Monday in May
5. Last Monday in May 
6. Last Monday in August
7. Christmas Day (public holiday)
8. Boxing Day

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Do I have a Right to Paid Leave on Bank Holidays?

Not unless your contract of employment says you are entitled to be paid. Paid time off can be set-off against your annual leave or can be an extra benefit in your employment contract.  Althougha some employers will pay extra, you have no right to this unless it is part of your terms and conditions of employment. If your employer does not pay your holiday pay, you may have a claim for unauthorised deduction of wages. You must start by raising a grievance.