How national holidays delay international money transfers

International payments depend on more than just exchange rates or sanctions – an unexpected holiday can disrupt transactions for days. When banks close for local celebrations, money transfers freeze mid-process, creating headaches for businesses and individuals alike.

Why holidays disrupt transfers

International transfers are more complicated than they seem; each payment relies on a chain of banks: the sender’s bank, intermediary (correspondent) banks, and the recipient’s bank. If any bank in that chain closes for a holiday, the payment stalls until operations resume.

For instance, a transfer sent from the UK on a standard workday to Hong Kong during the Spring Lantern Festival will leave the sender’s account but will sit idle with Asian bankers until Hong Kong’s banks reopen.

Similarly, domestic transfers aren’t immune to holiday disruptions. A payment within the UAE on the eve of Eid al-Fitr, a major Islamic holiday, will freeze until the long weekend ends, with no way to expedite the process. All you’re left to do is wait for the system to resume accepting payments.

Unique traditions and bank holidays across countries

Every country is unique and has its own holiday dates when not only people but also the banking system take a break.

China: Shutting down for two weeks

Perhaps the most well-known example is Chinese New Year (Chūnjié), a major holiday when banks, factories, and government institutions come to a standstill for about two weeks (from late January to early February, with dates changing annually based on the lunar calendar). All transactions slow down: banks are closed, employees are on vacation, and any payments sent will simply wait until everyone returns to work. Given that China is the “world’s factory,” this extended holiday period affects the entire globe. For nearly two weeks, not only do financial transactions halt, but trade and production also freeze. During Chinese New Year celebrations, many factories and businesses across the country shut down. This leads to delays in production and supply chains across multiple industries, such as electronics, textiles, automobiles, and more.

There is no point expecting quick processing during other Chinese holidays either. In 2025, they fall on:

April 4–6: Qingming Festival (Tomb-Sweeping Day)
May 1–5: Labor Day
October 1–8: Mid-Autumn Festival and National Day

Banks and customs offices close for at least five business days during the Golden Week in October. This has a critical impact on the entire country’s financial system and, consequently, on payment processing times.

Bank holidays in Hong Kong: Specifics and 2025 holiday dates

In Hong Kong, the banking system strictly adheres to local holidays and public days off, which are set annually by the government. During these times, banks are usually fully closed, and one or two days before major holidays, they may operate on reduced hours. For international transfers during these periods, a common rule applies: payments initiated after a certain cutoff time will only be processed after the holidays, even if the branch is still open for a few more hours.

In Hong Kong, many holiday dates change yearly, particularly those tied to the lunar calendar — for example, Buddha’s Birthday is observed on the eighth day of the fourth lunar month. All banks are closed during this time. As a result, interbank transfers and international SWIFT transactions are not processed on holidays – they are only handled on the next business day.

The current schedule of bank holidays can be found on the Hong Kong Association of Banks website. The list is quite extensive – here are some key dates for 2025:

May 31: Dragon Boat Festival
October 1: National Day
October 29: Chung Yeung Festival
December 25: Christmas Day (Catholic)

Although Hong Kong maintains a European-style banking culture, interbank transactions can be delayed during Chinese or British public holidays. For example, a businessman once sent a payment from Dubai to Hong Kong on the Dragon Boat Festival. While the funds left the UAE bank instantly, they remained stuck in Hong Kong for several days until local banks reopened after the weekend. Such transfers cannot be expedited or canceled – you simply have to wait.

UAE and other Muslim countries: Shorter workdays and the lunar calendar

In many Muslim countries, navigating the holiday calendar can be tricky. Alongside fixed official dates, some holidays, such as the start and end of Ramadan or Eid al-Fitr/Eid al-Adha, are set according to the sighting of the moon. Weather conditions like clouds or fog can delay this sighting, shifting the holiday by a day or two. During these periods, working hours are significantly reduced: in Ramadan, from eight hours to just three; during Eid al-Adha, the country often takes a four-day break, with banks closing entirely. Banks typically issue advance notices to alert customers to these extended pauses.

In the UAE, service can sometimes be unavailable even on regular weekdays – simply because bank staff decide to leave early. One real example: a client contacted the manager of a major UAE bank during working hours, only to be told, “We’ve just left the mosque and won’t be returning to the office, so I can’t assist today.” In many Muslim countries, branches may close temporarily for prayer times. These breaks are brief and, unlike holidays, do not disrupt the actual movement of funds.

The key holidays during which the UAE banking system comes to a standstill are:

January 1: New Year’s Day
March 30 to April 1: Eid al-Fitr
June 5 to 8: Eid al-Adha
June 26 to 27: Islamic New Year
September 5: Prophet Muhammad’s Birthday
December 1: Commemoration Day
December 2 to 3: National Day

From March to early April, it is advisable to schedule payments in the UAE 5–7 business days in advance. Be sure to check your servicing bank’s operating schedule, as it may vary between emirates.

USA: Strict regulations

In the United States, the bank holiday schedule is based on federally recognized public holidays. Clients are notified in advance if a bank plans to operate on a shortened schedule.

Major U.S. bank holidays include:

January 1: New Year’s Day
February 17: Presidents’ Day
July 4: Independence Day
November 28: Thanksgiving Day
December 25: Christmas Day

Banking systems shut down completely on official holidays, meaning U.S. dollar transfers are not processed anywhere in the world during these periods.

EU: Unexpected local holidays

In the European Union, public holidays are not limited to common EU-wide dates. Each country also observes its own national and regional celebrations, ranging from religious feasts and independence days to agricultural festivals. On such days, banks in that specific country remain closed. For instance, April 1 is a public holiday in both Hungary and Germany, while it is a regular business day in Spain.

Common EU-wide holidays in 2025 include:

January 1: New Year’s Day
April 21: Easter Monday (the Monday following Easter Sunday)
May 1: Labor Day (International Workers’ Day)
May 9: Europe Day
December 24–31: Year-end period, including Christmas

As the holiday calendar across Europe is not uniform, banking closures may vary in each country. This actually means a payment to Germany might be processed while a payment to Italy on the same date could be delayed.

Can you speed up transfers during holidays?

There aren’t any viable options to expedite the payment. If the recipient bank is closed, the transfer remains pending until operations resume. Even switching currencies or using another bank is rarely effective, since the key intermediary handling the transaction is still offline.

The sole approach is careful scheduling with due account of the recipient country’s holiday calendar. For many businesses, it is simpler to wait until after a weekend or holiday than to attempt complex, unreliable workarounds.

Tips for managing international transfers around holidays

Track calendars of public holidays for every country where you send or receive payments;
Avoid urgent transfers on dates that coincide with local holidays in the countries of the correspondent and recipient banks;
Choose banks that provide advance holiday notices to their clients;
Factor in time zones: a payment arriving late Friday afternoon local time may not be processed until the following Monday.

Conclusions

Holiday-related banking delays are not a cause for alarm; they simply mean that understanding cultural and national calendars of your partner countries can help you plan better. Such major events as Chinese New Year, Lantern Festival, Islamic lunar calendar holidays, and local religious or national celebrations can all massively affect regular payment timelines. If you want smoother, stress-free operations in international markets, get familiar with your partners’ holidays – and remember: during this time, your money is not lost, it is simply ‘taking a break’ along with the country it is headed to.