Are Banks Closed on Juneteenth?

As Juneteenth approaches, many wonder if banks will be open. Juneteenth National Independence Day is a federal holiday, meaning many banks and financial institutions, especially federally regulated ones, will close their physical branches. This aligns with how banks operate on other federal holidays.

Juneteenth as a Federal Holiday

Juneteenth National Independence Day, observed annually on June 19, commemorates the emancipation of enslaved African Americans. This date marks when Union soldiers arrived in Galveston, Texas, in 1865, delivering news of freedom, over two years after the Emancipation Proclamation. Juneteenth officially became a federal holiday on June 17, 2021, when President Joe Biden signed the Juneteenth National Independence Day Act into law. It was the first new federal holiday since Martin Luther King Jr. Day in 1983. As a federal holiday, Juneteenth directly impacts federal institutions like the Federal Reserve System. The Federal Reserve typically observes all federal holidays, and its schedule often guides many financial institutions nationwide.

Bank Operating Status on Federal Holidays

Most major banks and credit unions, including institutions like Bank of America, Chase Bank, Wells Fargo, and Capital One, typically close their physical branches in observance of federal holidays like Juneteenth. While brick-and-mortar branches may be closed for in-person services, customers generally retain access to their financial accounts through various digital channels. Online banking portals and mobile banking applications usually remain fully operational, allowing for activities such as checking balances, transferring funds between accounts, and paying bills.

Automated Teller Machines (ATMs) also continue to function, providing access for cash withdrawals and deposits. Transactions initiated on a federal holiday, even through digital means, might not be processed until the next business day. This delay occurs because the Federal Reserve, which facilitates electronic bank transfers, is also closed on these holidays. Some smaller, local banks or credit unions may occasionally operate with modified hours or maintain regular service on federal holidays, but this is less common among larger institutions.

Confirming Your Bank’s Schedule

To confirm your financial institution’s operating schedule for Juneteenth, it is best to check directly with your bank. Your bank’s official website or mobile banking application are reliable sources, often prominently displaying holiday schedules on homepages or in customer service sections.

Another method is to contact your bank’s customer service line directly. A representative can provide precise details regarding branch closures and any impacts on transaction processing times. Some banks also post holiday notices on the doors of their physical branches or communicate them through their official social media channels. Slight variations can exist in how different financial institutions observe federal holidays.