Holiday bank closure payout schedule

Holiday bank closures impact timelines for receiving payments from Wave. Below, we’ve listed the dates that banks will be closed in Canada and the United States so you can plan ahead.

2018 Bank Holidays in Canada

Holiday Date
Good Friday Friday, March 30th
Victoria Day Monday, May 21st
Canada Day (Observed) Monday, July 2nd 
Labour Day Monday, September 3rd
Thanksgiving Day Monday, October 8th 
Remembrance Day (Observed)  Monday, November 12th 
Christmas Day Tuesday, December 25th 
Boxing Day Wednesday, December 26th 

2018 Bank Holidays in the US

Holiday Date
Memorial Day Monday, May 28th
Independence Day Wednesday, July 4th 
Labor Day Monday, September 3rd
Columbus Day Monday, October 8th 
Veterans Day (Observed) Monday, November 12th 
Thanksgiving Day Thursday, November 22nd
Christmas Day Tuesday, December 25th 

Why can’t I get paid on holidays?

Wave can only deposit funds into your bank account on business days. If your Wave payments account is active, credit card transactions normally post within two business days. Since the holidays below are not considered business days, instructions sent to your bank will not be posted until the banks have re-opened. 

As an example of how this would affect you, let's say you were expecting a transaction to be deposited on Labour Day, which falls on Monday, September 3rd:

If the transaction was processed before 5pm on Thursday, August 30th, it would deposit on Tuesday, September 4th.

If it was processed before 5pm on Friday, August 31st, it would deposit on Wednesday, September 5th.

Was this article helpful?
1 out of 1 found this helpful