Banks and financial institutions close on federal holidays. Most banks provide a holiday schedule on their website for customers to prepare in advance. Many national banks include this information in the FAQ section of their website. Others dedicate a separate page to bank holiday schedules. During these holidays, physical bank branches will close entirely or adjust their operating hours. Customer service hours may also vary. If a bank doesn’t publish a holiday schedule online, contacting the nearest branch directly is the best way to confirm their holiday hours.
Online banks typically lack physical branches, but holidays can still impact their operations. Transactions might be delayed until the next business day when an online bank observes a holiday. While customer service availability generally remains consistent for online banks, there are exceptions. For example, some online banks offer customer service support every day except for major holidays like the Fourth of July, Thanksgiving, Christmas, and New Year’s Day.
Most financial institutions adhere to the Federal Reserve System’s holiday schedule. This schedule typically includes holidays like New Year’s Day, Martin Luther King, Jr. Day, Presidents’ Day, Memorial Day, Juneteenth, Independence Day, Labor Day, Columbus Day, Veterans Day, Thanksgiving Day, and Christmas Day. If a holiday falls on a Saturday, banks remain open on the preceding Friday. However, if a holiday occurs on a Sunday, banks will be closed the following Monday. The stock market generally operates on the same days as banks, with a few exceptions.
Generally, banking transactions do not process on bank holidays, irrespective of whether you bank online or at a physical branch. Online banks often restrict money-related transactions on federal holidays. Similarly, transactions at traditional banks will not be processed until the next business day. It’s advisable to have a backup plan in place for time-sensitive transactions, as direct deposits may be delayed.
While bank branches are closed on federal holidays, ATMs remain operational. Customers can use their debit or ATM cards to withdraw cash from ATMs during holidays. Using a debit card for cashback at a store is another option for obtaining cash when out of town, especially to avoid out-of-network ATM fees.
Cashing a personal check during holidays presents a few challenges, but there are workarounds. Some stores offer check-cashing services. Certain ATMs also allow check cashing or deposit, although this often requires having sufficient funds already in the account. Alternatively, depositing the check via mobile banking and then withdrawing cash from an ATM is possible, but funds may not be immediately available.
Federal bank holidays are designated by the Federal Reserve, leading to closures for most banks and delays in transaction processing. State bank holidays operate similarly but are determined at the state or local level. Examples include Inauguration Day or Patriot Day. Banks may close entirely or operate with reduced hours on state holidays. Credit unions are more likely to observe state holidays.
Checking a bank’s website is the easiest way to confirm holiday closures. The homepage may display notices of upcoming closures or reduced hours, and most websites feature a holiday calendar outlining closure dates. Contacting the bank’s customer service line provides another way to confirm closures or inquire about local branch hours.
