Memorial Day is a federal holiday, but most banks stay open
Memorial Day (the last Monday in May) is a federal holiday, which means federal offices and courts close. However, most banks remain open on Memorial Day. The holiday is observed by government agencies, the U.S. Postal Service, and federal courts, but individual banks decide their own schedules.
If you need to visit your bank on Memorial Day, call ahead or check your bank's website to confirm hours. Some banks close, but most keep at least limited hours or full service. Credit unions follow the same pattern — some close, others stay open.
The confusion happens because Memorial Day is both a federal holiday and a banking industry holiday. Federal holiday status does not automatically mean banks must close. Banks are regulated by the Federal Reserve and the Office of the Comptroller of the Currency, which recognize Memorial Day as a holiday, but banks themselves choose whether to observe it by closing.
Key Takeaways
- Memorial Day is a federal holiday, but most banks stay open with normal or reduced hours.
- Federal offices, courts, and the Postal Service close on Memorial Day, but banks are not required to follow the same schedule.
- Call your bank or check its website before Memorial Day to confirm whether it will be open and what hours it will keep.
- ATMs and online banking work on Memorial Day regardless of branch closures.
- If your bank is closed, you can still deposit checks and transfer money through mobile banking or ATMs.
Which banks close on Memorial Day
Large national banks like Bank of America, Wells Fargo, Chase, and Citibank typically close their branches on Memorial Day, though they may operate limited locations in some areas. Regional banks and community banks vary widely — some close entirely, others keep select branches open with shorter hours.
Credit unions are split. Many close on Memorial Day, but some remain open, especially those in areas with high foot traffic or those that operate extended hours year-round. Your credit union's website or a phone call will confirm its schedule.
Online-only banks (like Ally, Charles Schwab, and others) do not have physical branches, so the question of closure does not apply to them. You can access your account and move money 24/7.
What you can still do on Memorial Day if your bank is closed
ATMs work on Memorial Day regardless of whether the branch is open. You can withdraw cash, deposit checks using mobile deposit or an ATM with a check slot, and check your balance.
Mobile banking apps let you transfer money between accounts, pay bills, and send money to other people through services like Zelle or your bank's own transfer system. These transactions process on Memorial Day and post to accounts the next business day (or sometimes the same day, depending on the service).
If you need to speak to someone at your bank on Memorial Day, most banks offer phone support during business hours, even if branches are closed. Some banks also offer chat support through their websites or apps.
What closes on Memorial Day besides banks
Federal offices close on Memorial Day, including Social Security Administration offices, IRS walk-in locations, and Veterans Affairs offices. If you need to visit a federal office, plan for the day after Memorial Day.
The U.S. Postal Service does not deliver mail on Memorial Day, and post offices are closed. If you need to mail something, use a private carrier like UPS or FedEx, which may operate on a holiday schedule (call ahead to confirm).
Stock markets (NYSE and NASDAQ) close on Memorial Day. If you trade stocks or funds, you cannot place orders during market hours that day, though you can place orders through your brokerage app to execute when the market opens the next day.
Courts close on Memorial Day. If you have a court date scheduled, it will be rescheduled automatically or you will receive notice. Do not assume a court is open on Memorial Day.
Planning ahead for Memorial Day banking needs
If you need cash or plan to deposit a check, do it the day before Memorial Day. This avoids any risk of finding your bank closed or having limited ATM access (though ATM outages on holidays are rare).
If you need to pay a bill that is due on or around Memorial Day, pay it online or through your bank's bill pay system a few days early. This ensures the payment posts on time even if your bank's offices are closed.
If you are expecting a direct deposit (paycheck, government payment, tax refund) on Memorial Day, it may post the day before or the day after, depending on your bank and the payer. Check your bank's deposit schedule or contact the payer to confirm timing.
Checking your specific bank's Memorial Day hours
The fastest way to know is to search "[Your Bank Name] Memorial Day hours" or visit your bank's website and look for a holiday hours notice. Most banks post this information in early May.
You can also call your local branch directly and ask. Have your branch location ready (address or phone number) so they know which location you are asking about — some banks keep certain branches open while others close.
If you bank with a smaller or regional institution, check its website or call the main number. Credit unions often post holiday schedules on their websites or in their mobile apps.
Frequently Asked Questions
Can I use my ATM on Memorial Day if the bank is closed?
Yes. ATMs operate 24/7 on Memorial Day, regardless of whether the branch is open. You can withdraw cash, deposit checks (if your ATM has a deposit slot), and check your balance. Deposits made on Memorial Day typically post the next business day.
Will my direct deposit post on Memorial Day?
Direct deposits usually post the day before or the day after Memorial Day, depending on your employer or the government agency sending the payment. The Federal Reserve does not process ACH transfers (which include direct deposits) on federal holidays, so timing shifts. Contact your employer or the payer to confirm when to expect the deposit.
What if I need to pay a bill on Memorial Day?
Pay online through your bank's bill pay system or the biller's website. Online payments process on Memorial Day and post the next business day. Avoid mailing checks on or near Memorial Day because the Postal Service is closed and mail will be delayed.
Do credit unions close on Memorial Day?
Most credit unions close on Memorial Day, but some stay open with reduced hours. Check your credit union's website or call ahead. If your credit union is closed, you can still use ATMs and online banking to access your account.
Is the stock market open on Memorial Day?
No. The NYSE and NASDAQ close on Memorial Day. You cannot trade during market hours, but you can place orders through your brokerage app to execute when the market opens the next day.