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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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Is the Stock Market Open on MLK Day 2020?

January 15, 2020 By Amanda Blankenship 1 Comment

Federal holidays impact the day-to-day business of many institutions in the United States. Typically, banks close and U.S. Postal Service employees have the day off. However, the stock market follows a different holiday schedule. With the year’s second federal holiday approaching, many people are wondering is the stock market open on MLK Day?

Is the Stock Market Open on MLK Day?

The stock market will be closed on MLK Day. Investors will not be able to trade or sell on Monday, January 20. Any business that needs to be done will need to be completed before the close of business Friday. All other business will need to wait to be taken care of until Tuesday.

Will NASDAQ be open on MLK Day?

NASDAQ will be closed on Monday, January 20. Because the NASDAQ and NYSE have the same holiday schedule, they are closed the same days, including MLK Day.

Bond Market MLK Day

The bond market will be closed on MLK Day. The SIMFA or bond market runs on a different schedule than the NYSE or NASDAQ. However, it will still be closed on Monday. Any urgent business needs to be taken care of before 5 p.m. EST Friday.

The Stock Market Holiday Schedule

The stock market (NYSE and NASDAQ) is closed each year in observance of the following federal holidays: New Year’s Day, Martin Luther King Jr. Day, Washington’s Birthday, Good Friday, Memorial Day, Independence Day, Labor Day, Thanksgiving and Christmas Day.

It is important to note that the market closes at 5 p.m. EST on regular business days. There are two days during the year in which the market closes early (1 p.m. EST). Those days are Christmas Eve and Black Friday. No dates around MLK Day are impacted this way.

Because the stock market holiday schedule varies slightly from the federal holiday schedule, active traders should note holidays and days the market closes early and plan accordingly.

Is the Stock Market Open on Martin Luther King Jr. Day?

January 10, 2018 By James Hendrickson 1 Comment

Anyone who is actively trading in the stock market needs to know when it is open and when it is closed. If you miss a day that the market is open, it can significantly impact your stocks. When a federal holiday, like Martin Luther King Jr. Day, comes around it can get confusing. So, is the stock market open on Martin Luther King Jr Day?

MLK Day is on Monday, January 15 and it is recognized as a federal holiday. However, the stock market does not always close on federal holidays, it has its own holiday schedule. When people refer to the stock market they are generally referring to the New York Stock Exchange (NYSE) and the NASDAQ. The stock market observes most federal holidays just like banks, but not all. The NYSE and NASDAQ follow the same holiday schedule. The bond market, also referred to as SIFMA, does not follow the same schedule as the New York Stock Exchange and NASDAQ.

Download a printable 2018 Stock Market Holiday Schedule.

Will the New York Stock Exchange (NYSE) be Open on Martin Luther King Jr. Day?

The stock market will be closed on MLK Day. The stock market is closed on Martin Luther King Jr. Day. That means the market will not be opening for trading nor selling on Monday, January 15. However, you will be able to access the stock market on Friday, January 12 and Tuesday, January 16 as usual.

Will NASDAQ be Open on MLK Day?

NASDAQ will be closed on Monday, January 15. Because the NYSE and the NASDAQ run on the same holiday schedule, the MASDAQ will also be closed on Martin Luther King Jr. Day. However, just like the NYSE, you will be able to access services on Friday, January 12 and Tuesday, January 16.

Will the Bond Market be Open on Martin Luther King Jr. Day?

The the bond market will be closed on MLK Day. The bond market, also known as the SIMFA , will be closed on Martin Luther King Jr. Day. If you have any business to do with bonds, you need to get it done on Friday, January 12, or make sure it can wait until Tuesday, January 16.

Normally, the stock market closes at 5 p.m. However, there are a few days during the year where the market closes early. However, no dates around MLK Day are affected in this way.

It is important to note that the NASDAQ follows the same schedule as the New York Stock Exchange. The closing times are in Eastern Standard Time (EST).

If you are an active trader or have holdings in the NASDAQ, NYSE or bond market, you should become aware of what days these markets are open and closed. Oftentimes, the stock market does not always follow a federal holiday schedule, the market’s schedule is slightly altered.

Photo: Flickr: InSapphoWeTrust

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