banks open

Are Banks Open on President’s Day 2020?

February 13, 2020 By Tamila McDonald 2 Comments

When it comes to the February holidays, most people focus on Valentine’s Day. This year, that day of romance falls on a Friday. Since it’s the event that draws most people’s attention. It’s easy to overlook that Monday, February 17, 2020 – the Monday after Valentine’s Day – is President’s Day, a federal holiday. As with most federal holidays. There can be a bit of confusion regarding what will and won’t be open on President’s Day. If you are wondering, “Are banks open on President’s Day?” you aren’t the only one. For anyone who hoped to do some banking on February 17. Here’s what you need to know.

Are Banks Open on President’s Day?

No, banks typically are not open on President’s Day. It’s normal for banks close on federal holidays. President’s Day is no exception.

However, it’s important to note that some bank locations may be open. For example, branches inside of supermarkets or certain retail stores may open their doors on the holiday. This includes some PNC Bank and SunTrust Bank locations. Additionally, TD Bank branches are often open on President’s Day.

Otherwise, it’s often safe to assume that banks will close for the holiday. Some banks that do not open on President’s Day include:

Bank of America
Capital One
Citibank
HSBC Bank
US Bank

Additionally, regular PNC Bank and SunTrust Bank branches (those not in grocery or retail stores) will likely be closed as well.

If you need assistance from a bank employee. You will either need to head to your bank on the business day before President’s Day – either Friday, February 14 or Saturday, February 15. Depending on whether your bank has Saturday hours – or wait until the February 18, the Tuesday after the holiday.

Are Credit Unions Open on President’s Day?

No, most credit unions are not open on President’s Day. Like banks, the majority of credit unions follow the federal holiday schedule and close accordingly. However, there can be exceptions. For example, locations in retail or grocery stores, that may open.

Is the Stock Market Open on President’s Day?

No, the stock market is not open on President’s Day. Regardless of where your brokerage, IRA, or other kind of investment account is held. Trades and similar activities essentially come to a halt on most federal holidays, include President’s Day.

Both the New York Stock Exchange (NYSE) and NASDAQ close. Additionally, the bond market isn’t open either.

2020 Bank and Credit Union Holiday Schedule

Since banks and credit unions generally follow the federal holiday schedule. Most will close whenever government offices do. Here’s an overview of a typical 2020 bank and credit union holiday schedule:

New Year’s Day – Wednesday, January 1 – Banks and credit unions are closed
Martin Luther King, Jr. Day – Monday, January 20 – Banks and credit unions are closed
Presidents Day – Monday, February 17 – Banks and credit unions are closed
Memorial Day – Monday, May 25 – Banks and credit unions are closed
Independence Day (Observed) – Friday, July 3 – Banks and credit unions are closed
Labor Day – Monday, September 7 – Banks and credit unions are closed
Columbus Day – Monday, October 12 – Banks and credit unions are closed
Veterans Day – Wednesday, November 11 – Banks and credit unions are closed
Thanksgiving Day – Thursday, November 26 – Banks and credit unions are closed
Christmas Day – Friday, December 25 – Banks and credit unions are closed

It’s important to note that Independence Day actually falls on a Saturday in 2020. When this happens, the day the holiday is observed usually shifts to the Friday before. As a result, many banks will close on Friday, July 3, as well as Saturday, July 4.

Many people also notice that there are additional holidays where credit unions and banks are usually closed that aren’t on the list. For example, a bank typically isn’t open on Easter Sunday, Mother’s Day, or Father’s Day. The reason that is the cases usually isn’t because of the holiday itself. Instead, it’s because those events fall on Sundays, a day of the week where most banks and credit unions are closed anyway.

How to Bank on President’s Day

Even if your local branch closes on President’s Day, that doesn’t mean your banking needs have to go unaddressed. Nearly any service that doesn’t require interacting with a teller is still available.

For example, you can withdraw cash at an ATM that isn’t locked inside the building. You may also be able to make deposits, initiate transfers, or pay certain bills at ATMs or similar kiosks.

Additionally, you’ll still have access to a range of online banking services. Check depositing through mobile apps will be available, as well as bill paying services, the ability to initiate transfers, and access to information about your balances.

It’s important to note that the transactions themselves might not process until the next business day. This includes deposits, bank-to-bank transfers, bill pay involving the institution mailing a check on your behalf, and certain other activities that require a bank or credit union to be open for it to go through.

Do you ever wish that banks were open on federal holidays? Why or why not? Share your thoughts in the comments below.

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Are Banks Open on Labor Day 2018?

August 27, 2018 By Amanda Blankenship 1 Comment

With the end of summer and children going back to school, Labor Day is a busy time of year. Falling on the first Monday in September each year, many establishments alter their hours or close doors completely for the holiday. If you have business to take care of on your day off, you may want to know if there are any banks open on Labor Day.

Are Banks Open on Labor Day?

No, banks are closed on Labor Day. Most banks are typically open on Mondays. In fact, it is usually a busy day for most banks because they have been closed for two days over the weekend. However, most banks observe federal holidays. Because of this, the majority of banks will be closed on Labor Day.

TD Bank is one of the larger banks that is known to be open on Federal holidays, however, Labor Day is not one of the holidays in which their doors will remain open. Their branches will be open on Sunday, September 2 for their regular Sunday hours.

There may be a few exceptions to this but most branches will be closed on Monday. If your bank is located in a retail outlet they may be open but you will want to call and confirm their hours.

Credit Unions Open on Labor Day

Credit unions are also closed on Labor Day. Credit unions are typically open on Mondays, just like banks. However, they observe federal holidays as well. Some local credit union branches may be open or have limited hours on Monday but most will be closed for the day.

Although there are no credit unions or banks open on Labor Day, you can still do most of your banking through the ATM or the bank’s website. These two services are always available for members of any bank or credit union.

Using these services, you can perform most basic banking functions using both. That being said, it should be noted that any transactions made by either of these methods may not be completed until the next business day. A good example of this would be depositing a check. If you deposit a check on a holiday, like Labor Day, the funds may not begin to be processed until the next business day, meaning they may not be available for withdrawal right away.

With the holiday landing on a Monday, and most banking institutions also closed on Sunday (there are a few exceptions), those who are in need of getting to the bank need to plan ahead this week or wait until Tuesday, September 4 when banks will revert back to their normal business hours.

Bank Holiday Schedule 2018

December 14, 2017 By James Hendrickson 1 Comment

One of the most confusing things in the US is that federal holidays aren’t national holidays. The 10 official US federal holidays each year only apply to federal employees. Private businesses such as credit unions and banks, don’t have to follow the federal holiday schedule if they don’t want to, but with a few exceptions, in most cases they do. Below you’ll find the bank holiday schedule for 2018.

2018 Bank Holidays

January 1 (Monday): Banks are closed New Year’s Day.
January 15 (Monday): Martin Luther King, Jr. Day is the second bank holiday of the year.
February 19 (Monday): Most banks will be closed Presidents’ Day.
March 30 (Friday): Banks are open Good Friday
April 1 (Sunday): Banks are closed on Easter Sunday.
May 25 (Monday): Banks will be closed Memorial Day.
July 4 (Wednesday): Banks are closed on Independence Day.
September 3 (Monday): Banks are closed Labor Day.
October 8 (Monday): Columbus Day is another day the bank will remain closed.
November 12 (Monday): Veterans’ Day falls on a Sunday this year, so banks will close on November 12 in observance of the holiday.
November 22 (Thursday): Most banking institutions are closed Thanksgiving Day.
December 24 (Monday): Many banks will close early on Christmas Eve.
December 25 (Tuesday): There are no banks open on Christmas Day.
December 31 (Monday): Some banks may close early on New Year’s Eve.

Download a printable bank holiday schedule.

One holiday that will be a bit confusing in 2018 is Veterans Day. Because it lands on a Sunday, and since many federal employees don’t work on Sundays, Veterans Day is being observed as a federal holiday on Monday, November 12. This puts banks in a somewhat strange position because many do have their branches open on Saturday. As a result, most banks will be closed on the 3rd to observe the federal holiday, and also be closed the 4th on the actual holiday.

For anyone needing to use banking services, it’s important to remember that just because a bank or credit union branch is closed doesn’t mean you can’t do a lot of the basic banking functions. This applies to the holidays listed above, but also to Sunday when most banks are closed (with a few exceptions). There are several ways you can do basic banking including using bank ATM’s, mobile apps and the bank’s website.

While not all banking services can be done through these options, many of the basic ones can, which is something to keep in mind. If you do use these services, remember that any change you make may not immediately post to your account. For example, if you deposit a check, the check may not begin the clearing process until the next business day, meaning the funds from it may not be immediately available to you when the bank does open.

Staying on top of your finances also means staying on top of your bank accounts, which may mean a trip to the bank every now and then. Knowing what the bank holiday schedule is will help you with your financial planning and organization. Download a free printable schedule here.

For those who closely follow their investments, the stock market follows a similar holiday schedule as banking institutions. Find a stock market holiday schedule here.

Photo: John Loo

Are Banks and Credit Unions Open on Labor Day 2017?

August 30, 2017 By Alexa Mason 1 Comment

With the end of summer and children going back to school, Labor Day is usually a busy time of year. Labor Day is simply celebrated on the first Monday in September each year. Having the knowledge of which businesses will be open and which are closed will make your life a bit easier.

Because Labor Day is a Federal holiday, all nonessential government offices will be closed. There are a few exceptions to this, such as national parks, which will remain open, but the majority of government offices will be closed for the day. Does that include banks and credit unions? As the holiday gets closer many people are wondering if banks and credit unions will be open on Monday, September 4, 2017.

Banks

Are banks open on Labor Day? No, banks are closed on Labor Day. Most banks are typically open on Mondays. In fact, it is usually a busy day for most banks because they have been closed for two days over the weekend. However, most banks observe Federal holidays. Because of this the majority of banks will be closed on Labor Day. There may be a few exceptions to this but most branches will be closed on Monday. If your bank is located in a retail outlet they may be open but you will want to call and confirm their hours.

Credit Unions

Are credit unions open on Labor Day? No, credit unions are closed on Labor Day. Credit unions are typically open on Mondays, just like banks. However, they observe Federal holidays as well. Some local credit union branches may be open or have limited hours on Monday but most of them will be closed for the day.

Although banks and credit unions will be closed on Monday, September 4 in observance of Labor Day, you can still do most of your banking through the ATM or the bank’s website. These two services are always available for members of the bank or credit union. You can perform most basic banking functions using both. That being said, it should be noted that any transactions made by either of these methods may not be completed until the next business day. A good example of this would be depositing a check. If you deposit a check on a holiday, like Labor Day, the funds may not begin to be processed until the next business day, meaning they may not be available for withdrawal right away.

With the holiday landing on a Monday, and most banking institutions also closed on Sunday (there are a few exceptions), those who are in need of getting to the bank need to plan ahead a little, or wait until Tuesday, September 5 when they will revert back to their normal business hours.

Photo: Flickr: CAMH Foundation

Are Banks and Credit Unions Open on Presidents’ Day 2017?

February 15, 2017 By Amanda Blankenship 1 Comment

This weekend many people will still be focused on Valentine’s Day (February 14) and it may slip some people’s minds that Monday, February 20, 2017 is also a holiday. Presidents’ Day will be observed on February 20 and sometimes it can be confusing as to what is open and what is closed on federal holidays such as Presidents’ Day. The day is one of ten federal holidays in the United States, but not every business closes for federal holidays. This leaves many people asking themselves, “Are banks and credit unions open on Presidents’ Day?” Since banks are not all federally controlled, it can vary from holiday to holiday, and from bank to bank, as to whether or not each will be open on a particular federal holiday.

Presidents’ Day is observed on the third Monday in February every year. This means that the actual date of Presidents’ Day is always changing. Because it is on a Monday, it also causes some problems when it comes to day-to-day business. Banks, however, don’t always close on federal holidays so whether your bank is open on Presidents’ Day or not is not a simple yes or no answer. The majority of banks are closed on Presidents’ Day, but there are exceptions.

Are banks open on Presidents’ Day?

No, most banks are closed on Presidents’ Day. For the majority of banks and credit unions, being closed on Presidents’ Day is the general rule. There are exceptions on this holiday. All the branches at three well-known banks remain open on Presidents’ Day, as well as store branches at a couple of others:

Banks Open on Presidents’ Day

Chase Bank is open on Presidents’ Day
TD Bank is open on Presidents’ Day
Wells Fargo is open on Presidents’ Day
The supermarket branches of PNC Bank are open on Presidents’ Day
The in-store branches of SunTrust Bank are open on Presidents’ Day

Banks Closed on Presidents’ Day

Bank of America is closed on Presidents’ Day
Citibank is closed on Presidents’ Day
US Bank is closed on Presidents’ Day
Capital One is closed on Presidents’ Day
HSBC Bank is closed on Presidents’ Day
PNC Bank regular branches are closed on Presidents’ Day
SunTrust regular branches are closed on Presidents’ Day

Are credit unions open on Presidents’ Day?

No, most credit unions are closed on Presidents’ Day. Credit unions are much like banks when it comes to this holiday. The vast majority of regular branches will be closed for the day, but there may be some located in grocery stores or other retail outlets which will remain open along with the store where they’re located.

The good news is that in the age of technology in which we are living, you do not have to go to the bank to do business. You can often do banking at the ATM or even through your mobile phone or the bank’s website. Most of these options can usually be accessed 24 hours a day, seven days a week.

Is the stock market open on Presidents’ Day?

No, stock markets are closed on Presidents’ Day. Both the New York Stock Exchange (NYSE) and NASDAQ Composite are closed on Monday. The stock markets usually mirror federal holidays when it comes to when they are closed. For those interested, these are all the stock market holidays this year.

Are Banks Open on the day Before Presidents Day?

No, banks are closed the day before Presidents Day. Like every year, Presidents Day falls on a Monday the day before is a Sunday. Local bank and credit union branches have differing opening hours with some open on Sunday, but many banks remain closed. If your local bank branch is typically open on a Sunday, it will be open the day before Presidents Day.

Photo: Flickr: GotCredit

Are Banks Open or Closed for Memorial Day 2015?

May 21, 2015 By Jeffrey Strain 1 Comment

It can get quite confusing as to what is and isn’t open when the different federal holidays roll about each year. This is because just because a federal holiday is being celebrated doesn’t necessarily mean banks and credit unions will be open or closed on that day. Each financial institution chooses for themselves whether they will be opened or closed for each holiday, and this varies from holiday to holiday. With Memorial Day landing on May 25, 2015, many people will need to know whether or not banks will be opened or closed on Memorial Day.

Are Banks Open on Memorial Day?

No, most banks are closed on Memorial Day.

While it’s still common for banks to be closed on federal holidays, there has been a tiny trickle of banks that remain open on some of these holidays. The best-known bank which often remains open on holidays is TD Bank, but Memorial Day is one of the holidays where even the TD bank closes its branches. That doesn’t mean everything will be closed, but your options will be severely limited. Your best bet at finding a bank that’s open is one that is located within a large retail store which will remain open on Memorial Day.

Open Banks

US Bank: Branches may be open until 2 pm (call to confirm)
PNC Bank: Supermarket branches only will be open
SunTrust: Only In-store branches will be open

Some US Bank branches may operate on limited hours on Memorial Day until 2:00 PM, but if you have a branch in your area, you should call to confirm. PNC Bank and SunTrust branches located in retail stores and supermarkets will be open, but they may have limited hours.

Closed Banks

Bank of America
Capital One
Chase
Citibank
HSBC
PNC Bank: Regular branches
SunTrust: Regular branches
TD Bank
Wells Fargo

Are Credit Unions Open On Memorial Day?

No, most credit unions are closed on Memorial Day.

Credit unions are similar to banks when it comes to federal holidays, and the vast majority of them remain closed to observe the holiday. There may be some regional credit unions which remain open, but this will be the exception to the rule rather than the rule itself. There’s also a better chance that credit unions located in retail outlets such as grocery stores may be open for limited hours on Memorial Day. If you are unsure whether or not a local credit union will be open or not, you should always call to confirm so that you don’t waste your time.

Even though most banking credit union branches will be closed on May 25, 2015, that doesn’t mean you will be unable to do any banking. Many basic banking services do not require you to go into a bank branch these days. If you have some type of banking to do, there’s a good possibility you may be able to get it done by using the bank’s ATM machines, going to the bank’s website, or using the banks cell phone app. Many times you can bank 24 hours a day, seven days a week using these alternatives to the bank branch. While you won’t be able to do all banking transactions this way, most basic transactions can now be performed this way.

Those who do use the bank’s website, ATM machine, or phone app need to realize any transaction performed may not be instantly available. For example, those who deposit a check using one of these methods may not have immediate access to the funds of the check, and will have to wait for the check to clear. Other transactions may not hit the bank’s records until the following business day.

(Photo courtesy of Jeff Turner)