Federal holidays can be confusing when it comes to what is open and what’s closed. After the hustle-and-bustle of the holiday season, many people forget that the first day of the year is a federal holiday too. Generally, it is up to the company or business to decide whether or not they will be closed. However, government agencies and offices will be closed. Typically, banks follow the same schedule but are there any banks open New Year’s Day?
Are There Any Banks Open New Year’s Day?
No, most banks are closed on New Year’s Day. New Year’s is the first federal holiday of the year. Even TD Bank, which is normally open on other holidays and Sundays, will be closed on January 1.
Are Credit Unions Open on New Year’s Day?
No, most credit unions are closed on New Year’s Day. Just like with banks, credit unions will be closed. If you are lucky enough to find one open it will likely be located within a larger retail outlet. Those in need of banking services on January 1 will want to call ahead to see if any branches will be open.
Banking Available on New Year’s
Although most banks and credit unions will be closed on New Year’s Day, it is important to note that you will still be able to do many basic banking tasks. With ATMs and your bank’s app or website, you can make deposits, withdrawals, and transfer cash without having to enter the bank. These services are available 24 hours a day, 365 days a year.
However, you’ll also want to remember that these banking tools also have some limitations. Not everything you need to be done can be completed with an ATM, app, or website. Also, some transactions may take longer to post than usual. For instance, any deposits may not be available until the next business day.
Are Banks and Credit Unions Open New Year’s Eve
Banks will be open on New Year’s Eve but you’ll want to call ahead and verify the hours. Some institutions will choose to close their doors early for the federal holiday. So, if you need to get some banking done before the year’s end, call ahead and see what time your bank is closing New Year’s Eve. Most banks will reopen for regular business hours on Wednesday, January 2.
The above information is generally accurate, but there are always exceptions to the rule. If you want to be sure, contacting your financial institution directly is the best course of action to take.
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