Banks and financial institutions observe federal holidays. Most banks provide a holiday schedule on their website for customers to prepare in advance. Many national banks include this list in the FAQ section of their website. Other institutions have dedicated pages with bank holiday schedules. During these holidays, physical bank branches will be closed or operate with modified hours. Customer service hours may also vary. If a bank doesn’t publish a holiday schedule online, contacting the nearest branch directly is recommended.
Online banks, lacking physical branches, can still be affected by holidays. Transactions may be delayed until the next business day when a holiday is observed. Customer service availability generally remains consistent for online banks, with a few exceptions.
Most financial institutions adhere to the Federal Reserve System’s holiday schedule. The schedule typically includes holidays like New Year’s Day, Martin Luther King, Jr. Day, Washington’s Birthday, 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 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 some exceptions.
Banking transactions, including direct deposits, are usually not processed on bank holidays, regardless of whether the bank is online or has physical branches. Transactions initiated on a bank holiday will typically be processed on the next business day. It’s advisable to have a backup plan in case of transaction delays, especially for time-sensitive payments.
While bank branches are closed on federal holidays, ATMs remain operational. Customers can use debit or ATM cards to withdraw cash during holidays. Using a debit card for cash back at a store is also an option, especially when avoiding out-of-network ATM fees.
Cashing a personal check during a bank holiday can be challenging. Some stores offer check-cashing services. Certain ATMs allow check cashing or depositing, but often require pre-existing funds in the account. Mobile or online banking features can be used for check deposits, but funds might not be available immediately.
Federal bank holidays are designated by the Federal Reserve, and most banks observe these closures. State bank holidays are determined at the state or local level, such as Inauguration Day or Patriot Day. Banks may close or operate with reduced hours on state holidays. Credit unions are more likely to observe state holidays.
To determine if a bank is closed for a holiday, checking the bank’s website is the easiest method. Websites usually display notices of upcoming closures or reduced hours, along with a holiday calendar. Contacting the bank’s customer service line is another option for confirming closures and inquiring about local branch hours.
Federal holidays are established by the federal government and apply nationwide. These holidays impact bank operations, potentially delaying transactions. State holidays, decided at the state level, may also affect bank hours, particularly for credit unions.
