Most banks close on Martin Luther King Jr. Day
Yes, most major banks in the United States close on Martin Luther King Jr. Day, which falls on the third Monday of January. This is a federal holiday, and banks that are members of the Federal Reserve System observe it as a day off. That means you cannot visit a branch, use a teller, or conduct in-person business.
However, you can still use ATMs, online banking, and mobile apps to check balances, transfer money, or pay bills. Deposits made at ATMs on the holiday will typically post the next business day. If you need cash before the holiday, withdraw it the day before.
Not every bank closes on MLK Day. Some smaller regional banks, credit unions, and online-only banks may stay open. Call your bank directly or check their website to confirm their holiday schedule, because policies vary by institution.
Key Takeaways
- Federal holiday closures apply to most major banks, including Bank of America, Wells Fargo, Chase, and Citibank on Martin Luther King Jr. Day.
- ATMs and online banking remain available even when branches are closed, so you can withdraw cash and move money without visiting a location.
- Deposits made at ATMs on the holiday will post to your account the next business day, not immediately.
- Credit unions and smaller regional banks may have different schedules, so contact your bank before the holiday to confirm.
- Wire transfers and ACH payments initiated on the holiday may not process until the next business day.
Which banks close and which stay open
All banks that are members of the Federal Reserve System must close on federal holidays, including MLK Day. This includes the largest banks: Bank of America, Wells Fargo, Chase, Citibank, U.S. Bank, PNC, and TD Bank. If your bank is one of these, your local branch will be closed.
Credit unions vary. Many credit unions are also closed on MLK Day, but some remain open. Online banks like Ally, Charles Schwab, and Discover typically do not have physical branches, so there is no "closed" location — but their customer service phone lines may have reduced hours or be closed entirely.
The only way to know for certain is to check your bank's website or call the branch directly. Most banks post their holiday schedule online under "Hours" or "Locations." If you cannot find it, call during regular business hours the day before the holiday.
What you can and cannot do on MLK Day
You can: Withdraw cash from ATMs, check your balance online or through a mobile app, transfer money between your own accounts, pay bills through online banking, and deposit checks using mobile check deposit (if your bank offers it). These services run 24/7 and do not depend on branch staff.
You cannot: Visit a branch to speak with a teller, deposit cash in person, get a cashier's check, open a new account, apply for a loan, or resolve account problems that require a person. If you need any of these services, you will have to wait until the next business day.
Wire transfers and ACH payments you initiate on MLK Day will not process until the next business day. If you need money to move urgently, initiate the transfer the day before the holiday instead.
Planning ahead to avoid problems
The best approach is to handle banking needs before MLK Day arrives. If you know you will need cash over the weekend or on the holiday itself, withdraw it on Friday. If you need to deposit a check, use your bank's mobile app or an ATM if available — otherwise, deposit it the day after the holiday.
If you have a time-sensitive transaction, such as a wire transfer or a loan decision, complete it before the holiday. Many banks process these requests only on business days, so waiting until Monday may delay your timeline by an extra day.
For credit unions and smaller banks, call ahead to confirm their schedule. Some may have different holiday observances or may stay open on MLK Day even though larger banks close.
What happens to deposits and payments on the holiday
Deposits made at an ATM on MLK Day will post to your account on the next business day, which is Tuesday. The bank does not process ATM deposits on the holiday itself — they are collected and processed overnight once the branch reopens.
Payments you make through online banking on MLK Day will process according to the schedule you set. If you schedule a payment for the holiday, it will typically go out on the next business day. Immediate transfers between accounts at the same bank usually work instantly, even on holidays.
If you mail a check, the postal service also does not deliver on federal holidays, so mail sent on MLK Day will not arrive at the bank until Tuesday at the earliest.
Online and mobile banking during the holiday
Online banking platforms and mobile apps stay open on MLK Day because they do not require branch staff. You can log in, check balances, view transactions, and set up transfers at any time. Most banks' websites and apps do not close for holidays.
However, if you encounter a problem or need to contact customer service, phone lines may be closed or have reduced hours. Some banks offer chat support or email support on holidays, but response times may be slower. Check your bank's website to see what support options are available on MLK Day.
If you use a bank that has 24/7 customer service, you may still be able to reach someone, but wait times are often longer on holidays.
Frequently Asked Questions
Can I use my debit card on Martin Luther King Jr. Day?
Yes. Debit cards work at any merchant or ATM on MLK Day. The holiday only affects bank branches and some customer service lines, not the card networks or ATM systems themselves.
Will my paycheck deposit on time if it arrives on MLK Day?
Direct deposits scheduled for MLK Day will typically post on the next business day, Tuesday. Contact your employer or payroll department if you need to confirm the exact timing. Some employers adjust payroll schedules to avoid federal holidays.
Can I get a cashier's check on Martin Luther King Jr. Day?
No. Cashier's checks require a teller and can only be obtained at a branch during business hours. If you need one, get it the day before the holiday or the day after.
Do credit card companies close on MLK Day?
Credit card companies do not close, but their customer service phone lines may have reduced hours. You can still make payments online or through your mobile app. If you need to speak with someone, try calling the next business day.
What if I need money urgently on Martin Luther King Jr. Day?
Use an ATM to withdraw cash if you have funds available. If you need more than your ATM daily limit allows, you will have to wait until the next business day to visit a branch or call customer service for assistance.