Payments can be delayed when the payment systems and correspondent banks behind them are closed. Here is how holidays affect settlement, with a sample list and guidance to help you plan ahead.
Settled processes payments on business days, but the timing of any individual transfer also depends on the payment systems and banks that carry it. On a banking or currency holiday those systems may be closed, which can delay when a payment is sent or received, even if you submit it on time.
Last updated: 1 June 2026 · Version 1.0
Euro payments settle through TARGET2, the Eurosystem's real-time settlement system. When TARGET2 is closed, euro SEPA and SEPA Instant payments are queued and processed on the next available business day. International SWIFT payments depend on the working calendars of the correspondent and beneficiary banks in each currency and country; if any bank in the chain is closed for a local holiday, settlement can be delayed until it reopens.
In practice this means a payment submitted just before, or during, a holiday may not reach the beneficiary until the next shared business day for that currency and route.
In addition to Saturdays and Sundays, TARGET2 is closed on the following fixed days each year:
On these days no euro payments settle through TARGET2, regardless of which bank you are sending to or from.
The list below is a non-exhaustive sample to illustrate how local holidays in major currencies can affect settlement. Always check the calendar for the specific currency and country you are paying before relying on a date.
This sample is provided for general guidance only and may not reflect every regional or last-minute change. Holiday dates can vary by region and are subject to change by the relevant authorities.
Our team can help you check holiday calendars for a specific currency or route, and plan time-sensitive transfers around them.