What Days Are Bank Holidays in the U.S.?

Bank holidays in the United States are specific days when most financial institutions, including commercial banks and credit unions, are closed for normal business operations. These closures impact various financial activities, leading to altered schedules for transaction processing. Understanding these holidays is helpful for individuals and businesses to plan their financial transactions accordingly and avoid unexpected delays.

Federal Bank Holidays

Federal law establishes a number of public holidays that are observed by banks across the United States. These include:

• New Year’s Day (January 1)
• Birthday of Martin Luther King, Jr. (third Monday in January)
• Washington’s Birthday (third Monday in February, also known as Presidents’ Day)
• Memorial Day (last Monday in May)
• Juneteenth National Independence Day (June 19)
• Independence Day (July 4)
• Labor Day (first Monday of September)
• Columbus Day (second Monday in October)
• Veterans Day (November 11)
• Thanksgiving Day (fourth Thursday of November)
• Christmas Day (December 25)

When a federal holiday falls on a Saturday, banks typically observe it on the preceding Friday. If a holiday falls on a Sunday, it is generally observed on the following Monday, ensuring a consistent day off for financial institutions.

Impact on Financial Services

Bank holidays significantly affect the processing times for various financial transactions. While automated services like ATMs, online banking portals, and mobile banking applications remain accessible for initiating transactions, the actual processing of these activities is delayed until the next business day. This means that funds transferred or payments initiated on a holiday will not begin processing until the bank reopens.

Direct deposits, such as paychecks or government benefits, are typically not credited to accounts on a bank holiday, leading to a delay in funds availability. Similarly, electronic transfers like Automated Clearing House (ACH) payments, which include bill payments and recurring transfers, will not settle on these days. For instance, an ACH payment initiated on a Friday before a Monday holiday would likely not clear until Tuesday.

Wire transfers also experience delays, as they require bank staff to process and verify the transactions. Checks deposited on a bank holiday will not begin their clearing process until the subsequent business day, extending the time it takes for funds to become available.

It is advisable for individuals and businesses to schedule their transactions with these holiday-induced delays in mind, particularly for time-sensitive payments or deposits.

State and Regional Bank Holidays

Beyond the federally recognized holidays, some states or specific regions within the United States observe additional bank holidays. These state-specific closures mean that financial institutions in those areas may also close or operate with modified hours. Such holidays are not uniformly observed nationwide but are specific to local governmental and cultural practices.

Examples of these regional observances include Patriot’s Day in Massachusetts, typically celebrated on the third Monday of April, or Mardi Gras in Louisiana, which falls on Shrove Tuesday before Ash Wednesday. While a bank might be open in one state, its branches in another might be closed due to a local holiday. These localized observances underscore the importance of checking a bank’s specific holiday schedule.

To determine if a local bank or credit union will be closed, it is advisable to consult their official website or contact their customer service directly. This proactive approach helps avoid inconvenience, especially when planning in-person branch visits or anticipating the processing of transactions. Understanding these localized variations ensures that financial planning aligns with operational realities.