Banks are closed on Presidents Day, but your refund may still move
Most banks in the United States close on Presidents Day (the third Monday in February), which means you cannot visit a branch or use teller services that day. However, a refund that arrives in your account on Presidents Day will still post — the money moves through the Federal Reserve system even when bank branches are shut. Direct deposits scheduled for Presidents Day will land in your account as normal. The closure only affects in-person banking and some customer service lines.
If you are waiting for a tax refund, stimulus payment, insurance refund, or business refund by direct deposit, Presidents Day does not delay it. If you are expecting a paper check, the closure may affect when you can deposit it, but the check itself will arrive on its normal schedule.
Key Takeaways
- Direct deposits process on Presidents Day even though branches are closed, so refunds scheduled to arrive that day will post to your account normally.
- You cannot visit a bank branch or speak to a teller on Presidents Day, but ATMs and online banking remain available.
- Paper checks arrive on their regular schedule regardless of the holiday, but you may not be able to deposit them until the next business day.
- The Federal Reserve operates on Presidents Day, so the banking system itself does not stop — only local branch offices do.
What happens to direct deposits on Presidents Day
The Federal Reserve processes direct deposits on Presidents Day just as it does on any other day. Your employer, the IRS, your insurance company, or whoever is sending your refund does not pause because of the holiday. If your refund is scheduled to arrive on Presidents Day, it will show up in your account that morning or afternoon, depending on your bank's processing schedule.
You will be able to see the deposit in your online banking portal and use the money immediately — you do not have to wait until Tuesday to access it. ATMs work on Presidents Day, so you can withdraw cash if you need it. The only thing you cannot do is walk into a branch and speak to a person.
Paper checks and Presidents Day delays
If you are receiving a paper check instead of a direct deposit, Presidents Day does not change when the check arrives in the mail. The U.S. Postal Service delivers mail on Presidents Day, so your check will show up on its normal schedule. The delay comes after you receive it: if the check arrives on Presidents Day or the day before, you cannot deposit it at a bank branch until Tuesday.
Some banks allow mobile check deposit through their app even on holidays, so you may be able to deposit a Presidents Day check from your phone without visiting a branch. Check your bank's app to see if this option is available. If not, you can deposit it the next business day (Tuesday) and the funds will typically post by Wednesday or Thursday, depending on your bank's processing time.
Tax refunds and Presidents Day
The IRS does not pause tax refund processing for Presidents Day. If your refund is scheduled to arrive by direct deposit on or around Presidents Day, it will post on that day. You can check the status of your federal tax refund through the IRS website using the "Where's My Refund?" tool, which updates once per day, usually overnight.
State tax refunds follow the same pattern — they process on Presidents Day and will arrive in your account as scheduled. If you are tracking a state refund, check your state's tax agency website for a status tracker specific to your state.
Stimulus payments and other federal refunds
Federal stimulus payments, Economic Impact Payments, and other government refunds sent by direct deposit arrive on Presidents Day without delay. The Treasury Department and the Federal Reserve coordinate these payments to arrive on specific dates, and the holiday does not interrupt that schedule. If you are tracking a federal payment, the status tool for that specific program will show you the expected arrival date.
If you received a notice saying your payment would arrive on Presidents Day, it will. If you are unsure whether your payment is scheduled for that day, check the official tracking tool for the program — the IRS, the Social Security Administration, or the Veterans Benefits Administration, depending on which payment you are waiting for.
Insurance and business refunds on Presidents Day
Insurance companies and businesses process refunds on Presidents Day the same way banks do: direct deposits go through, and the money lands in your account. If your insurance company or a business is sending you a refund by check, it will arrive on its normal schedule, and you can deposit it starting the next business day.
Some insurance companies and larger businesses have their own customer service lines that may be closed on Presidents Day. If you need to contact them about a refund status, try calling on Tuesday or use their online portal, which usually stays open during holidays.
What bank services are actually closed on Presidents Day
Bank branches close on Presidents Day, which means no in-person teller service, no safe deposit box access, and no loan officer appointments. Customer service phone lines may be closed or have reduced hours. However, ATMs work normally, online banking portals stay open, and mobile apps function as usual.
If you need to deposit a check, transfer money, or check your balance, you can do all of that through your bank's website or app on Presidents Day. Only in-person services are unavailable. If you have a question that requires talking to someone, plan to call on Tuesday.
Frequently Asked Questions
Will my tax refund arrive late if it is scheduled for Presidents Day?
No. The IRS processes refunds on Presidents Day, and direct deposits will post to your account as scheduled. The holiday does not delay the Federal Reserve's processing system. If your refund status shows an arrival date of Presidents Day, expect the money to appear that day.
Can I deposit a check on Presidents Day at an ATM?
Most banks do not offer mobile check deposit through ATMs on any day — that service is only available through the bank's mobile app. If your bank supports mobile check deposit, you can use it on Presidents Day. Otherwise, you will need to wait until Tuesday to deposit the check at a branch or through an ATM that offers that service.
What if I need to contact my bank about a refund on Presidents Day?
Call on Tuesday when the branch reopens, or use your bank's online chat or email support if available. Most banks staff their online support lines even on holidays. You can also check your account status through your app or website anytime, including Presidents Day.
Does the IRS send refunds on Presidents Day?
Yes. The IRS does not pause refund processing for federal holidays. If your refund is scheduled to arrive on Presidents Day, it will post to your account that day. You can track it through the IRS "Where's My Refund?" tool.
If my check arrives on Presidents Day, when can I deposit it?
You can deposit it starting Tuesday through your bank's mobile app (if available) or at a branch. If you deposit it Tuesday, the funds typically post by Wednesday or Thursday, depending on your bank's processing schedule.