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In the United States, it's customary for banks to close their doors on federal holidays. While banks aren't legally required to do so, most follow the Federal Reserve System's holiday schedule. Federal Reserve services are unavailable on these days, which could potentially delay your payments and deposits.
Your local bank may also close for local holidays. It's a good idea to check your bank's or credit union's holiday schedule at the beginning of the year and mark those dates on your calendar. This way, you can plan accordingly and avoid any surprises.
To make it easier, here's a list of the U.S. bank holidays in 2024 and 2025.
U.S. Bank Holidays in 2024 and 2025
Historically, the Federal Reserve observes 11 holidays each year. However, the specific dates can change if the holiday falls on a weekend. In that case, your bank may observe the holiday on the closest weekday.
Here are the Federal Reserve System bank holidays for 2024:
| Bank Holiday | 2024 | 2025 |
|---|---|---|
| New Year's Day | January 1 | January 1 |
| Martin Luther King Jr. Day | January 15 | January 20 |
| Washington's Birthday/ Presidents Day | February 19 | February 17 |
| Memorial Day | May 27 | May 26 |
| Juneteenth | June 19 | June 19 |
| Independence Day | July 4 | July 4 |
| Labor Day | September 2 | September 1 |
| Columbus Day/Indigenous Peoples Day | October 14 | October 13 |
| Veterans Day | November 11 | November 11 |
| Thanksgiving Day | November 28 | November 27 |
| Christmas Day | December 25 | December 25 |
What Happens to Bill Payments on Bank Holidays?
On Federal Reserve holidays, services like check processing and ACH transfers are closed across the banking system. That means any bill payments you make on a holiday will be posted on the next business day when the Federal Reserve opens.
To avoid a late payment, aim to submit it before your bank's cutoff time. Check with your bank for specific cutoff hours to make sure your payment is processed on time.
What Happens to Direct Deposits and Physical Check Deposits?
Similarly, you likely won't receive direct deposits scheduled for a holiday. You'll have to wait until the next business day to receive the funds. If you receive a personal check, your bank's ATM network might not allow you to deposit it. In that case, you can deposit the check via your bank's mobile app, but the funds likely won't be available right away.
If you receive a physical check the day before a holiday, it's a good idea to deposit it before your bank's cutoff time to receive the money the same day. Plan ahead because your bank's cutoff time could be as early as 2 p.m. at its branch offices. However, many banks offer a later cutoff time for checking deposits through their mobile app, so the check posts the same day.
What Banking Can You Do on a Holiday?
You can still perform some banking functions on a holiday, such as withdrawing cash through the ATM, viewing your balance or making an online transfer between internal accounts. However, any external transactions that rely on the Federal Reserve's network will be delayed. You also can deposit a check using your smartphone, but it probably won't be processed until the next business day.
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Are All Banks Closed on Holidays?
While most banks and credit unions observe holidays, some keep their branch doors open. Also, some institutions—particularly online banks—may not observe holidays that fall on a weekend and remain open during their regular weekday hours.
- Bank of America: Bank of America is closed for all federal holidays in 2024. Check your local branch for specific days and hours of operation.
- Chase Bank: The nation's largest bank stays open on Columbus Day/Indigenous Peoples Day. However, you can't perform online transactions like scheduled loan payments and instant deposits on this day.
- PNC Bank: PNC Bank doesn't process transactions during federal holidays, but you can still access the customer service department by phone—except on Memorial Day, Independence Day, Labor Day, Thanksgiving Day and Christmas Day. Contact your local branch for specific holiday hours.
- TD Bank: TD Bank closes its 1,100 offices to observe many—but not all—federal holidays. Branches are open on Presidents Day and Columbus Day/Indigenous Peoples Day.
- U.S. Bank: The U.S. Bank website states that holiday hours may vary by branch. Check your local office for specific hours.
- Wells Fargo: Holiday schedules may vary by location. Check your local branch's holiday hours on Wells Fargo's website.
It's worth noting, banks often keep their doors open on some non-federal holidays, such as Christmas Eve and New Year's Eve, though hours may be limited.
The Bottom Line
When planning your monthly budget, prepare for bank holiday closures that could delay a payment or paycheck. Mark holidays on your calendar or set reminders to help you make payments and other time-sensitive transactions on time.
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