Are the Banks Open on Veterans Day?
Planning to bank on Veterans Day? Get clear answers on branch closures and practical ways to manage your money during the holiday.
Veterans Day, observed annually in the United States, honors military veterans who have served in the U.S. Armed Forces. It recognizes their sacrifices and contributions to the nation’s security and freedom. This day acknowledges the service of all veterans, distinguishing it from Memorial Day, which commemorates those who died while in military service.
Veterans Day and Federal Holidays
Veterans Day, observed on November 11, is one of the 11 recognized federal holidays in the United States. This means non-essential federal government offices typically close, and federal employees receive a paid day off. Federal institutions like the United States Postal Service (USPS) also halt regular mail delivery and close their retail locations.
Federal holidays follow a specific rule when November 11 falls on a weekend. If Veterans Day occurs on a Saturday, the preceding Friday is generally treated as the holiday for federal employees and institutions. Conversely, if it falls on a Sunday, the following Monday is designated as the observed holiday. This ensures federal workers receive a day off.
Bank Branch Operations
Most major banks and financial institutions across the U.S. typically close their physical branches on Veterans Day. This is primarily due to the Federal Reserve System observing all federal holidays. Since the Federal Reserve processes interbank transactions and clears funds, its closure significantly limits banking activities.
While there is no legal mandate for banks to close on federal holidays, the Federal Reserve’s closure leads most institutions, including large national banks, to cease in-person services. Some smaller, local banks or credit unions might maintain limited hours or remain open, but this is less common. Customers should verify their specific bank’s holiday schedule through its website or by direct contact before planning a branch visit.
Accessing Bank Services
Even with physical bank branches closed on Veterans Day, customers retain various options for accessing financial services. Automated Teller Machines (ATMs) remain operational for cash withdrawals and deposits. These machines are typically available 24/7, offering a convenient alternative for routine cash needs.
Online banking platforms and mobile banking applications offer comprehensive functionalities for managing accounts remotely. Through these digital channels, customers can check account balances, pay bills, transfer funds, and deposit checks using remote deposit capture. While these digital transactions can be initiated on the holiday, their processing and posting to accounts will generally occur on the next business day when the Federal Reserve reopens. Customer service lines may also be available for urgent inquiries, though wait times might be longer due to reduced staffing.