Most banks close on Memorial Day, but some branches and services stay open
Yes, the vast majority of banks close on Memorial Day (the last Monday in May). All federal holidays trigger closures at banks that are federally chartered or insured by the FDIC — which includes nearly every major bank in the United States. Chase, Bank of America, Wells Fargo, Citibank, and most regional banks will not have staff working that day.
However, "closed" does not mean you have zero access to your money. ATMs run 24/7 regardless of the holiday, so you can withdraw cash, check balances, and deposit checks at the machine. Mobile banking apps and online banking platforms work normally. The closure affects only in-person services — tellers, loan officers, and customer service desk staff.
Some credit unions and smaller banks operate on different schedules, so if you bank with a local institution, call ahead or check their website to confirm. A few banks in certain markets stay open on some federal holidays, though this is rare.
Key Takeaways
- Federal banks close entirely on Memorial Day, but ATMs and online banking remain available around the clock.
- You can withdraw cash, deposit checks at an ATM, and transfer money through your mobile app or website on the holiday.
- If you need to speak to a teller or loan officer, you will need to wait until the next business day.
- Credit unions and local banks may have different hours, so contact your bank directly if you are unsure.
- Checks deposited on Memorial Day will not clear until the following business day, even if you use an ATM or mobile deposit.
What you can and cannot do on Memorial Day
ATMs and mobile apps handle most routine transactions without a problem. You can withdraw cash, check your balance, transfer money between your own accounts, and deposit checks using your phone camera (mobile deposit). Wire transfers initiated through your app may process, though they typically settle the next business day anyway.
What you cannot do is walk into a branch and speak to a person. If you need to open a new account, apply for a loan, dispute a transaction in person, or resolve a problem that requires a staff member, you will have to return on Tuesday. Some banks offer phone support on holidays — call the number on the back of your card to find out whether yours does.
If you are expecting a direct deposit or a payment to post on Memorial Day, it will not arrive until Tuesday. Payroll and government payments (including refunds) that would normally land on a Monday holiday are pushed to the following business day by law.
How to plan ahead if you need cash or services
Withdraw what you need before the holiday closes. If you typically get cash on Monday and Memorial Day falls on that day, pull money out on Friday or over the weekend. ATMs have daily withdrawal limits — usually $500 to $1,000 depending on your bank — so if you need more than that, plan accordingly.
If you are expecting a paycheck or tax refund to land on Memorial Day, assume it will arrive Tuesday instead. The federal government and most employers do not process payments on federal holidays. If your refund or payment was scheduled for that Monday, the system automatically delays it to the next business day.
For anything requiring a staff member — a dispute, a new account, a loan question — call ahead on Friday or handle it online if possible. Many banks let you start applications or report fraud through their website or app, which can save you a trip.
Credit unions and smaller banks may have different hours
Not all financial institutions follow the federal holiday schedule. Some credit unions stay open on Memorial Day or close at different times. If you bank with a credit union, a local bank, or an online-only bank, check their website or call their main number to confirm their Memorial Day hours.
Online banks (like Ally, Charles Schwab, or Discover) typically do not have physical branches, so the holiday does not affect them the same way. You can still log in, transfer money, and manage your account. However, customer service phone lines may be closed or have reduced hours.
What happens to checks and deposits on the holiday
If you deposit a check using an ATM or mobile deposit on Memorial Day, the bank receives it, but it will not clear until Tuesday. The check clears the next business day after it is received, not the day you deposit it. This matters if you are counting on that money to be available immediately.
The same rule applies to transfers between banks. If you initiate an ACH transfer (a transfer between two different banks) on Monday, it will process Tuesday. Wire transfers can sometimes move faster, but they also typically settle the next business day.
If you need money to be available by a specific date, deposit it before the holiday. Do not wait until Monday if Tuesday is your deadline.
Frequently Asked Questions
Can I use my debit card on Memorial Day if the bank is closed?
Yes. Your debit card works at any ATM and at any store that accepts it, regardless of whether your bank branch is open. The only thing you cannot do is visit a teller or speak to someone at the branch.
Will my direct deposit come through on Memorial Day?
No. Employers and government agencies do not process direct deposits on federal holidays. If your paycheck or refund was scheduled for Memorial Day, it will land on Tuesday instead. Check with your employer or the agency sending the payment if you are unsure of the exact date.
What if I need to report fraud on Memorial Day?
Call the fraud line on the back of your card — many banks staff these lines on holidays. If you cannot reach anyone, report it through your mobile app or online banking portal. Document what happened, and follow up with a staff member on Tuesday to file a formal dispute.
Do online banks close on Memorial Day?
Online banks do not have physical branches, so there is no closure in the traditional sense. You can log in and manage your account anytime. However, customer service phone lines may have reduced hours or be closed entirely. Check their website for holiday hours.
When will my check deposit clear if I deposit it on Memorial Day?
Checks deposited on Memorial Day (whether at an ATM or through mobile deposit) will clear on Wednesday, not Tuesday. The bank counts the next business day after receiving the deposit as day one of the clearing process.