Indigenous Peoples Day is not a federal bank holiday, though it is a federal holiday in some contexts
Indigenous Peoples Day became a federal holiday in 2021 when President Biden signed it into law, replacing Columbus Day as the second Monday in October. However, this federal holiday status does not automatically make it a bank holiday. Banks, stock markets, and federal offices close on a smaller list of holidays than the full federal calendar recognizes.
Most banks remain open on Indigenous Peoples Day. The Federal Reserve and the U.S. Treasury do not observe it as a closure day, which means the banking system continues to operate normally. If you need to deposit a check, transfer money, or conduct other banking business on Indigenous Peoples Day, you can do so at most banks and through online banking without interruption.
Some individual banks and credit unions have chosen to close on Indigenous Peoples Day, but this is a company decision, not a requirement. Before assuming your bank will be closed, check directly with your institution or look at their holiday schedule online.
Key Takeaways
- Indigenous Peoples Day is a federal holiday as of 2021, but the Federal Reserve does not recognize it as a bank holiday.
- Most banks stay open on Indigenous Peoples Day, though some credit unions and regional banks may close at their own discretion.
- Federal offices and courts are closed on Indigenous Peoples Day, but this does not affect banking operations.
- If you need to conduct banking business on the second Monday in October, contact your bank ahead of time to confirm their hours.
Which federal offices close on Indigenous Peoples Day
Federal offices, including Social Security Administration field offices, IRS offices, and federal courts, close on Indigenous Peoples Day. If you need to visit a federal office or conduct business that requires an in-person appointment, plan ahead for the day before or after.
The U.S. Postal Service also observes Indigenous Peoples Day as a holiday, so mail delivery does not occur and post offices are closed. If you are expecting a check or refund by mail, factor in the extra day if it arrives near Indigenous Peoples Day.
Stock markets and financial trading on Indigenous Peoples Day
The New York Stock Exchange and NASDAQ both close on Indigenous Peoples Day. If you trade stocks or monitor market activity, remember that no trading occurs on the second Monday in October and markets reopen the following day.
Bond markets and futures markets also close. Any orders you place will not execute until the market reopens on Tuesday. If you use a brokerage app or online trading platform, you can still place orders while markets are closed, but they will sit as pending orders until trading resumes.
What happens to direct deposits and online banking on Indigenous Peoples Day
Direct deposits scheduled for Indigenous Peoples Day may arrive a day late, depending on your employer and your bank. Some employers process payroll the day before the holiday to ensure deposits clear on time, while others process on the holiday itself, which delays the deposit to the next business day. Check with your payroll department if you receive a direct deposit near Indigenous Peoples Day.
Online banking and mobile apps work normally on Indigenous Peoples Day. You can check balances, transfer money between your own accounts, pay bills online, and perform most routine transactions without delay. Transfers to other people's accounts may take longer to process if they involve the banking system's clearing house, which does not operate on federal holidays.
State and local government closures on Indigenous Peoples Day
Not all states observe Indigenous Peoples Day. Some states still recognize Columbus Day on the second Monday in October, while others have adopted Indigenous Peoples Day, and a few observe both or neither. Check your state government's holiday calendar to see whether state offices, courts, and services close in your area.
Local government closures vary by city and county. Some municipalities close on Indigenous Peoples Day while others do not. If you need to conduct business with a local agency—such as renewing a driver's license, paying property taxes, or obtaining a permit—contact them directly to confirm their holiday schedule.
How Indigenous Peoples Day affects refund processing and government payments
Tax refunds and other government payments that normally arrive by direct deposit may be delayed if the deposit date falls on Indigenous Peoples Day. The IRS and Social Security Administration do not process deposits on federal holidays, so a refund or payment scheduled for that Monday will arrive on Tuesday instead.
If you are tracking a refund or payment and the expected date is Indigenous Peoples Day, add one business day to your timeline. The delay is automatic and does not indicate a problem with your refund or payment status.
Frequently Asked Questions
Will my bank be closed on Indigenous Peoples Day?
Most major banks stay open on Indigenous Peoples Day because it is not a bank holiday, even though it is a federal holiday. However, some smaller banks and credit unions may close. Contact your bank to confirm their hours before the second Monday in October.
Can I use an ATM on Indigenous Peoples Day?
Yes. ATMs operate 24/7 on Indigenous Peoples Day regardless of whether your bank's branch is open. You can withdraw cash, check your balance, and deposit checks at the ATM without interruption.
Will my direct deposit be late if it is scheduled for Indigenous Peoples Day?
It may be. Direct deposits scheduled for Indigenous Peoples Day often arrive on Tuesday instead because the banking system does not process deposits on federal holidays. Ask your employer whether they process payroll before or after the holiday to know when to expect your deposit.
Are stock markets open on Indigenous Peoples Day?
No. The New York Stock Exchange, NASDAQ, and all U.S. bond and futures markets close on Indigenous Peoples Day. Trading resumes on Tuesday. Any orders you place while markets are closed will execute when they reopen.
Do federal tax offices close on Indigenous Peoples Day?
Yes. IRS offices and other federal offices close on Indigenous Peoples Day. If you need to visit an IRS office or speak with a representative about a tax issue, plan your visit for the day before or after the holiday.