Most banks close on Martin Luther King Jr. Day
Yes, most banks in the United States close on Martin Luther King Jr. Day, which falls on the third Monday in January. The Federal Reserve observes this day as a federal holiday, and nearly all national banks follow that schedule. This means you cannot visit a branch, use a teller, or conduct in-person business on that day.
However, you can still access your money through ATMs, online banking, and mobile apps. Deposits made at ATMs before the holiday will typically post the next business day. If you need cash or have urgent banking needs, plan ahead by withdrawing money before the holiday arrives.
Some credit unions and smaller regional banks may have different schedules, so it is worth checking with your specific institution. A quick call to your bank's customer service line or a look at their website will confirm whether they are closed.
Key Takeaways
- National banks close on Martin Luther King Jr. Day, which occurs on the third Monday of January each year.
- ATMs remain available 24/7, so you can withdraw cash or check your balance even when branches are closed.
- Online and mobile banking services work normally on the holiday, allowing you to transfer money, pay bills, and check transactions.
- Deposits made at ATMs on the holiday will post to your account the next business day, not immediately.
- Credit unions and regional banks may have different holiday schedules, so contact your bank directly to confirm.
What you can and cannot do on MLK Day
You cannot walk into a branch and speak to a teller, open a new account, or get a cashier's check on Martin Luther King Jr. Day. If you need to resolve a problem that requires a person on the phone, customer service lines will be closed as well.
You can use ATMs to withdraw cash, deposit checks (though they will not post until the next business day), transfer money between your own accounts, and check your balance. Online banking portals and mobile apps work normally. If you need to pay a bill, send a wire transfer, or move money between accounts, you can do all of that from your phone or computer.
If you have a time-sensitive issue — a fraudulent charge, a missing deposit, or a locked account — you will need to wait until the next business day to reach someone who can help. For emergencies, some banks offer 24/7 fraud hotlines that operate even on holidays.
Planning ahead to avoid problems
The best strategy is to handle banking tasks the business day before the holiday. If you need cash, withdraw it then. If you need to deposit a check and want it to post the same day, do that before the holiday arrives. If you are expecting a direct deposit or payment, remember that it will not process on the holiday itself.
If you use a paycheck advance service or rely on regular deposits, check whether your employer or service provider processes payments on holidays. Some do, some do not. A quick email or call to confirm can prevent you from counting on money that will not arrive when you expect it.
For recurring bills that are due around the holiday, set up automatic payments a few days early. This prevents late fees if the payment does not process on time because of the holiday closure.
Credit unions and regional banks may have different hours
While national banks like Bank of America, Chase, Wells Fargo, and Citibank all close on Martin Luther King Jr. Day, some credit unions and smaller regional banks stay open. This varies by institution and by location — even branches of the same credit union may have different schedules.
The only way to know for certain is to check directly. Call your bank's main number, visit their website, or use their mobile app to look up holiday hours. Many banks post their holiday schedule weeks in advance, so you can plan accordingly.
If you belong to a credit union, ask whether they observe federal holidays or keep their own schedule. Some credit unions are open on days when traditional banks close, which can be helpful if you have urgent banking needs.
How to access your money without visiting a branch
ATMs are your primary option for cash and basic transactions. Most ATMs are available 24/7, regardless of whether the branch is open. You can withdraw cash, deposit checks, transfer money between accounts, and check your balance. The only limitation is that deposits made on the holiday will not post until the next business day.
Online banking works around the clock. Log into your bank's website or app to pay bills, transfer money, view transactions, and manage your accounts. You can also set up new transfers or schedule payments to go out on a future date.
If you need to send money to someone else, you can use your bank's digital payment service, a money transfer app, or a peer-to-peer payment platform like Venmo or PayPal. These services typically process instantly or within one business day, depending on the service and the recipient's bank.
What happens to deposits and payments on the holiday
Checks deposited at an ATM on Martin Luther King Jr. Day will not post to your account until the next business day. The same applies to mobile check deposits — if you photograph and submit a check through your bank's app on the holiday, it will not be processed until the following day.
Direct deposits scheduled for the holiday may process on that day or may be delayed until the next business day, depending on your employer and your bank. Payroll systems vary — some process on schedule regardless of holidays, while others delay. If you are unsure, ask your employer's payroll department.
Payments you schedule to go out on the holiday will typically be held and sent on the next business day instead. If you have a bill due on or around the holiday, schedule the payment a few days early to ensure it arrives on time and avoids late fees.
Frequently Asked Questions
Can I use my debit card on Martin Luther King Jr. Day?
Yes, you can use your debit card to make purchases and withdraw cash from ATMs on the holiday. Merchants' systems are not affected by bank closures. The only thing you cannot do is visit a physical bank branch or speak to a teller.
Will my direct deposit come through on MLK Day?
It depends on your employer and your bank. Some payroll systems process on schedule regardless of holidays, while others delay until the next business day. Contact your employer's payroll department to confirm when your deposit will arrive if it is scheduled for the holiday.
What if I need to deposit a check urgently?
Use your bank's mobile app to deposit the check by photograph, or deposit it at an ATM if your bank offers that service. The check will not post until the next business day, but at least it will be in the system. If you need the money immediately, you may not have an option until the branch reopens.
Are wire transfers available on Martin Luther King Jr. Day?
Wire transfers initiated through online banking may be processed on the holiday, depending on your bank and the receiving bank. However, some banks delay wire processing on federal holidays. If you need a wire to go out urgently, initiate it before the holiday or contact your bank's wire department to confirm their holiday schedule.
Do credit card payments process on the holiday?
Credit card payments submitted online or through an app typically process on schedule, even on holidays. However, if you mail a check, it will not arrive until after the holiday. To avoid late fees, submit payments online a few days before the due date.