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What is a bank holiday?
A bank holiday is when banks are closed on a business day in observance of a federal or local holiday. There are typically 11 federal bank holidays per year in the United States.
How do bank holidays work?
When a bank is closed for a holiday, branches and remote customer service options — such as customer service by phone or live online chat — are unavailable until the next business day. If the holiday falls on a Sunday, the bank will usually be closed on Monday. Online banking will typically still be available during the bank holiday, but it will be self-service.
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List of bank holidays in the U.S. in 2023 and 2024
You may want to check your bank’s holiday closure schedule — especially if your bank operates internationally — but here are the typical bank holidays observed in the United States according to the Federal Reserve.
New Year’s Day
Jan. 1 (observed Jan. 2).
Martin Luther King Jr. Day
Nov. 11 (observed Nov. 10).
Does money go out on a bank holiday?
If you have an electronic payment that might be delayed by a bank holiday — such as a direct deposit, online payment or money transfer — you may need to plan to pay for something early. For example, if your rent is due on a particular day of the month, look ahead to any bank holidays that might disrupt your payment and try to schedule your payment accordingly. Sometimes your employer or bank might also send your paycheck before a bank holiday.
How to access your money during a bank holiday
Even if your bank’s branches and customer service phone lines are closed during a bank holiday, you can still typically access your money online and through your bank’s ATM network. Most banks allow their customers to manage their money with a mobile app or by logging in to their accounts on a computer. You can send money through Zelle if your bank offers that service, transfer money to other accounts and make bill payments online, and you can use ATMs to withdraw and deposit cash.
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