Are Banks Open Today? Federal Holiday Bank Closures | Banking Advice

Independence Day will be here soon, and it can be difficult to figure out which businesses are going to be closed, especially banks. If you’re planning to deal with your personal finances on the Fourth of July, you might be disappointed to see that your local bank is closed.

In 2023, there are 11 federal holidays observed by the Federal Reserve, which regulates the United States banking system. These bank closures could affect your banking activities and delay your funds. For example, if you deposit a check on Independence Day, the funds may not become available until the next business day. Below is the complete list of bank holidays in 2023.

Bank holidays 2023

If a holiday falls on a Saturday, the bank will still be open on the Friday before, but if a holiday occurs on a Sunday, the bank will be closed the following Monday.

Holiday Date
New Year’s Day Sunday, Jan. 1 (observed Monday, Jan. 2)
Martin Luther King Jr. Day Monday, Jan. 16
Presidents Day Monday, Feb. 20
Memorial Day Monday, May 29
Juneteenth National Independence Day Monday, June 19
Independence Day Tuesday, July 4
Labor Day Monday, Sept. 4
Columbus Day Monday, Oct. 9
Veterans Day Saturday, Nov. 11
Thanksgiving Thursday, Nov. 23
Christmas Monday, Dec. 25

Alternatives to Banking on Federal Reserve Bank Holidays

Thankfully, most major banks have online accessibility when their brick-and-mortar locations are closed. This access makes it possible to do a lot of things on a bank holiday, such as deposit a check with your smartphone. However, the check likely won’t be processed until the next business day.

You will also be able to open up a bank account online during a bank holiday, including checking accounts, savings accounts, money market accounts or certificates of deposit.

If you need to send money to someone on a bank holiday, consider using a payment app, such as Venmo or PayPal, which allows you to send and receive money from people.

Paying a Bill on a Bank Holiday

If you have an automated bill payment that falls on a Federal Reserve holiday, the payment won’t process until the next business day, which can lead to extra fees if you miss the due date. All withdrawals will also be suspended on bank holidays. Make sure you plan ahead for bills that fall on these holidays so your payments post in time.

Using an ATM on a Federal Bank Holiday

Although bank branches will be closed on a holiday, the ATMs will not. You will be able to check your account balance and make cash withdrawals. As a plus, some banks offer ATMs that are open 24 hours.

What Holidays Are Banks Open?

Most U.S. banks will be open on these holidays:

Holiday Date
Orthodox Christmas Saturday, Jan. 7
Mardi Gras Tuesday, Feb. 21
Ash Wednesday Wednesday, Feb. 22
Purim Monday evening, March 6
Holi Wednesday, March 8
St. Patrick’s Day Friday, March 17
Ramadan Wednesday evening, March 22
Good Friday Friday, April 7
Passover Wednesday evening, April 5
Eid al-Fitr Friday evening, April 21
Eid al-Adha Wednesday evening, June 28
Patriots’ Day Monday, April 17
Rosh Hashanah Friday evening, Sept. 15
Halloween Tuesday, Oct. 31
Election Day Tuesday, Nov. 7
Black Friday Friday, Nov. 24
Hanukkah Thursday evening, Dec. 7
Kwanzaa Tuesday, Dec. 26

Most U.S. banks will be closed on these holidays because they fall on a Sunday:

Holiday Date
Lincoln’s Birthday Sunday, Feb. 12
Easter Sunday, April 9
Yom Kippur Sunday evening, Sept. 24
Diwali Sunday, Nov. 12
Christmas Eve Sunday, Dec. 24
New Year’s Eve Sunday, Dec. 31

Leave a Reply

Your email address will not be published. Required fields are marked *