I have read that August 1 is a bank holiday this year and that we should be aware of closures. What does that mean exactly? Does that merely mean that banks are closed and we should make sure we have enough cash for that day, or does that mean some sites we may be planning on may be closed as well? Does it affect credit card usage? Thanks in advance!
Yes, it mostly means that banks will be closed, though you might find some government offices closed, as well. It does not affect credit card usage. Virtually all tourist-type locations will be open.
When you see "bank holiday" for Ireland and Great Britain, think Labor Day or any major holiday. This will mean most businesses will be closed except for what's open in the US. B&Bs may be busier with holiday crowds but it varies by area. Tourist sites may be more crowded. ATMs will be working and credit cards will work.