Are Banks Open Today? Bank Holidays in 2023 & 2024

Major banks, other banks in the Federal Reserve System, and the financial markets are all closed on federal holidays, which have been chosen by Congress. Non-bank employers also use these holidays as a guide for when they close but don’t necessarily close for all of them. Plus, when a holiday falls on a weekend it’s tough to know when the federal holiday observance will fall. This practice can lead to some confusion over when banks are open.

When Are Banks Open?

Most bank branches are open Monday through Friday, and some are open, often for shorter hours, on Saturday. Generally, U.S. banks do not offer teller or drive-through services on Sundays. They also close their lobbies and drive-through windows on the 11 federal holidays, which are also known as bank holidays.

When Are Banks Closed in 2023?

Nearly half of the federal holidays do not fall on the same date every year. For example, banks close on the third Monday of every February for Presidents’ Day. In those cases, you’ll want to double-check the exact dates each year. Other holidays like Independence Day and Christmas Day will always fall on the same date each year, so you can count on banks to be closed on these exact dates unless one falls on a weekend. Here is the schedule for 2023:

U.S. Bank Holidays in 2023

When Are Banks Closed in 2024?

Here is the list of days that banks will be closed in 2024:

U.S. Bank Holidays in 2024

Why Are Some Holidays Bank Holidays?

U.S. banks follow the federal holiday schedule because they rely on the U.S. Federal Reserve for major transactions. This includes wire transfers and Automated Clearing House (ACH) transactions. With the U.S. Federal Reserve shut down on these holidays, banks can’t really complete these kinds of transactions customers will need to make.

What If I Need My Bank When It’s Not Open?

Luckily, nowadays we have the internet at our fingertips. So instead of driving to the bank to make your transaction, you can log into your bank account with your online login info. There, you can typically move money around between accounts, set up deposits, check your balances, and more. Your banking abilities extend a little further, too, if you have your bank’s mobile app. This adds the ability to deposit checks right from your smartphone.

Online and mobile banking will allow you to perform most transactions right away. Since the U.S. Federal Reserve and your bank are still closed, however, most transactions will be processed the next business day. So while you can get your end of the transaction out of the way, the money may not go through immediately.

If you really needed to make a cash deposit or withdrawal, your bank’s ATMs should still be in service. Bank holidays just mean you won’t be able to go into a branch and speak with a teller. You could also head to another ATM, either within your bank’s network or out-of-network. Just be careful of ATM fees that can easily pop up.

Bottom Line

Bank holidays, which are the same as federal holidays, aren’t always the same days’ people have off from work. This is likely why many of us think banks are open when they are actually closed and vice versa. Generally, banks stay open on the eve of major holidays such as Christmas and New Year’s. But whether your bank is open or closed, you’ll likely be able to use the ATM. If you need a teller’s help, though, be sure to call or look up the bank’s hours online before you go.

Tips for Banking

• If you ever need some professional help managing your money, consider working with a financial advisor. Finding a financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three vetted financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
• If you do most of your banking online, you may want to consider an online bank. You’ll still have access to ATMs. But without the costs of brick-and-mortar locations, online banks can pass on those savings to you with high-yield savings accounts, allowing you to boost your savings.
• An important part of banking is making sure you’re not paying more than you should be. This is especially true when it comes to bank fees which can sneak up on you if you’re not careful. In the case of closed bank branches, you may think you’ll use a nearby out-of-network ATM. But this can result in a surcharge and potentially a fee from your own bank.Photo credit: ©iStock.com/fstop123, ©iStock.com/RyanJLane, ©iStock.com/zoranm