Is Veterans Day a Bank Holiday?
Discover how Veterans Day impacts bank operations, transaction processing, and other services. Understand holiday observance variations.
Veterans Day, observed annually on November 11, honors military veterans of the United States Armed Forces. This national tribute acknowledges their service, sacrifices, and contributions to the country, whether in times of war or peace.
Veterans Day as a Federal Holiday
A federal holiday in the United States designates a day when non-essential U.S. federal government offices close, and federal employees receive paid time off. While Veterans Day holds this status, its observance by private businesses, schools, and state or local government entities varies. Should November 11 fall on a Saturday, the federal observance shifts to the preceding Friday; if it falls on a Sunday, the holiday is observed on the following Monday. This ensures federal employees receive a day off.
Bank Operations on Veterans Day
Most commercial banks close on Veterans Day, aligning their schedules with the Federal Reserve’s holiday calendar, which observes all federal holidays. In-person services at bank branches are unavailable on November 11. Any checks deposited or electronic transfers, such as ACH and wire transfers, initiated on the holiday may experience processing delays until the next business day.
While physical branches are closed, online and mobile banking platforms remain accessible for routine tasks like checking account balances or transferring funds between accounts within the same institution. Automated Teller Machines (ATMs) continue to operate for cash withdrawals and deposits. Most major banks adhere to this closure, but some smaller, local banks or credit unions might maintain different operating hours, so it is advisable to confirm with individual institutions.
Impact on Other Services and Businesses
Beyond banks, Veterans Day affects other sectors with varying operational changes. U.S. Post Offices close, meaning there is no regular mail delivery on this day. Non-essential federal government offices close in observance of the holiday.
The observance among state and local government offices, as well as schools, shows significant variation; some may close entirely, while others remain open. A notable distinction exists for financial markets: the major stock exchanges, including the New York Stock Exchange (NYSE) and Nasdaq, remain open on Veterans Day, although the bond market is closed. Most private businesses, including retail stores and restaurants, continue normal operations, as federal holiday mandates do not apply to them.