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MonAug 7

Featured

New South Wales Bank Holiday – August 7, 2023

Timeline
Importance
Celebrate

Who doesn’t love a three-day weekend? Since 1875, New South Wales has enjoyed one on its New South Wales Bank Holiday each first Monday of August. The origins of the day lie in British Rule; bank employees were given an extended weekend as compensation for putting in extra hours on June 30. (They needed that time to close balance sheets.) Regardless of the day’s origins, let’s all give thanks for three day weekends—the savior of nine-to-fivers around the world.

New South Wales Bank Holiday timeline

1871

Bank Holiday Act is Introduced

The act constitutes that banks in the UK and Ireland remain closed on the first Monday of August, each year

1875

Now in New South Wales

The act stipulates that banks in New South Wales remain closed on the first day of August, each year.

1912

Bank Holidays Act is Changed

According to the changed act, banks in New South Wales have to remain closed on the first Monday of August, thus marking the beginning of the New South Wales Bank Holiday.

New South Wales Bank Holiday Activities

Review your financial goals
We all have dreams, and to fulfill most dreams, you need money. Maybe it's the fancy car you are after or a nice house by the beach. Review your savings and see how far you are from your financial goals. If you haven't made financial goals, yet, now would be a good time to do it.
Educate yourself, financially
You don't need to master the stock market, but your local banker will appreciate if you know a little more than just the definition of fixed deposits and mutual funds. Save your banker some explanation effort and educate yourself.
Take your local banker out for drinks
Since this day is about appreciating the diligence of bankers, why not take your favorite local banker out for some drinks? Make sure you don't talk about finances, though. The day is meant for them to catch a break from all that!

3 Fun Facts About Australian Currency

Australian Banknotes were the first in the world to be printed on polymer
Printing it on plastic makes counterfeiting much harder.
The $10 note has a microprint
The Australian $10 note has excerpts from a David Mary Gilmore poem in microprint.
The $20 note has the image of a convict
It features Mary Reibey, a successful businesswoman that was sent as a convict to Australia by British authorities.

Why We Love New South Wales Bank Holiday

There is lesser traffic on the roads
Bankers don't have to report to work, which means fewer cars on the road. Unless you live at a walkable distance from your office, less traffic on the roads is always a good thing.
It allows us to catch up with our banker friends
Bankers, especially those at managerial positions, often have very tight schedules. New South Wales Bank Holiday is the perfect time to catch up with our banker friends, ask them about life, and maybe, just maybe, give them some existential crisis too!
It rewards bankers
New South Wales Bank Holiday is not a state-wide holiday. The holiday is dedicated to banks and bankers, and recognizes the hard work that goes into running our financial institutions