Are Banks Open on Holidays? Federal Holiday Schedule
Discover federal bank holiday schedules and practical ways to manage your finances when physical branches are closed.
Most traditional banks in the United States close their physical branches on federal holidays. This aligns with the Federal Reserve System’s holiday schedule, impacting when banking operations like transaction processing occur. Planning ahead for these closures helps manage personal finances.
Observed Holidays
Banks observe the same federal holidays as the Federal Reserve System, leading to branch closures. These include:
New Year’s Day
Martin Luther King Jr. Day
Washington’s Birthday (Presidents’ Day)
Memorial Day
Juneteenth National Independence Day
Independence Day
Labor Day
Columbus Day
Veterans Day
Thanksgiving Day
Christmas Day
These closures are primarily due to the Federal Reserve not processing transactions like Automated Clearing House (ACH) transfers or wire transfers on these days, which are fundamental to bank operations. If a federal holiday falls on a weekend, banks usually observe it on the preceding Friday or the following Monday.
Accessing Services When Branches are Closed
While physical bank branches close on federal holidays, a variety of alternative banking services remain available. Automated Teller Machines (ATMs) provide access for cash withdrawals, deposits, and balance inquiries around the clock. Many financial institutions offer online banking portals and mobile applications, allowing individuals to manage accounts from anywhere.
Through these digital platforms, users can check account balances, transfer funds, pay bills, and deposit checks remotely using a mobile device’s camera. Transactions initiated may not process or post to accounts until the next business day. Direct deposits, including paychecks, and other electronic transfers like ACH payments, are typically delayed until the bank reopens.
Understanding Different Financial Entities
Holiday schedules primarily pertain to traditional commercial banks. Credit unions generally follow a similar holiday calendar, observing most federal holidays, though some might have slight variations or observe additional state holidays.
For online-only banks, physical branch closure does not apply, as operations are entirely digital. These institutions remain accessible 24/7 through applications and websites, though transaction processing adheres to Federal Reserve operating days. Services like check-cashing businesses or money transfer centers may operate on different schedules, sometimes remaining open when traditional banks are closed. Always verify operating hours during holiday periods.