What is a bank holiday and how does it affect you?

If you’ve ever tried to deposit a check on a certain Monday and been met with locked doors and a “closed for holiday” sign, you’ve experienced a bank holiday. In the U.S., bank holidays typically line up with federal public holidays, like Independence Day or Labor Day, but they can also occur in other countries on dates you might not expect. 

These scheduled closures can temporarily restrict your access to funds. Whether you’re sending money to a friend or waiting for a payment to clear, knowing when bank holidays happen (and why) can save you time and frustration.

What is a bank holiday?

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A bank holiday is a day when banks close to observe a national or regional holiday. In most cases, federal or central banks set these dates, and private banks follow suit. In the U.S., the Federal Reserve determines official bank holidays, which means most banks nationwide will close on those days.

Bank holidays don’t always match up internationally. For example, the U.K. has its own list of bank holidays, many tied to historical events or seasonal celebrations. That’s why international transfers can take longer if one country is on holiday while the other is not.

Common U.S. bank holidays

Here are some of the most widely observed bank holidays in the U.S.:

• New Year’s Day (January 1)

• Martin Luther King Jr. Day (third Monday in January)

• Presidents Day (third Monday in February)

• Memorial Day (last Monday in May)

• Juneteenth National Independence Day (June 19)

• Independence Day (July 4)

• Labor Day (first Monday in September)

• Columbus Day (second Monday in October)

• Veterans Day (November 11)

• Thanksgiving Day (fourth Thursday in November)

• Christmas Day (December 25)

If a holiday falls on a weekend, banks often observe it on the next business day.

How bank holidays affect your money

When banks close, certain services pause. Here’s what you might notice:

• Deposit delays: Checks deposited the day before a holiday may take longer to clear.

• Transfer slowdowns: ACH transfers and wire transfers may not process until the next business day.

• Cash access: ATMs still work, but in-person services and large cash withdrawals may be unavailable.

If you rely on direct deposit for your paycheck, you might receive your funds earlier or later, depending on how your employer processes payments around the holiday.

Planning ahead for bank holidays

The easiest way to sidestep issues is to plan around known holidays:

• Schedule transfers or bill payments for a few days before the holiday.

• Keep some cash on hand in case you need it.

• Use mobile banking tools to check balances and deposit checks digitally.

Bank holidays abroad

If you send or receive money internationally, remember that bank holidays in other countries can affect timelines. For example, Japan has Golden Week in late April and early May, during which many banks close for multiple days.

When dealing with overseas payments, check both your country’s and the recipient’s holiday calendar to avoid unexpected delays.

Bank holidays in everyday life

Bank holidays can influence more than your banking schedule. They often provide a pause for communities, mark significant dates, and impact the flow of business. While closures can cause short-term delays in payments or operations, they’re also part of the predictable calendar that families and businesses can plan around.

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