DEFINITION of 'Business Day'
A measurement of time that typically refers to any day in which normal business is conducted. This is generally considered to be Monday through Friday from 9am to 5pm local time, and excludes weekends and public holidays. Within the securities industry, any day the financial markets are open for trading is considered to be a business day.
BREAKING DOWN 'Business Day'
Consumers often encounter the issue of a business day when depositing a check that needs to clear. Depending on the size of the check being deposited and the location of the issuer it can take between two and 15 business days for a check to clear, and those days do not include weekends or observed public holidays, which can extend the time period that a depositor needs to wait to access those funds. When conducting international business transactions, individuals and companies should be aware that business days may vary by country due to a difference in the public holidays observed.