Most U.S. banks are closed on January 1 because it is a federal holiday

January 1 is New Year's Day, a federal holiday. Nearly all traditional banks — Chase, Bank of America, Wells Fargo, Citibank, and regional banks — close their branches on this day. If you need to deposit a check, withdraw cash, or speak to someone in person, you will not be able to do so at a physical branch.

Some banks may open on January 1 if it falls on a weekend, but this depends on the bank's policy. In 2025, January 1 is a Wednesday, so branches will be closed. Check your bank's website or call ahead if you are unsure about a specific location.

Digital banking — transfers, bill pay, checking your balance, and moving money between your own accounts — works normally on January 1. ATMs are also available 24/7, even when branches are closed.

Key Takeaways

  • Bank branches close on January 1 because it is a federal holiday, but ATMs and online banking remain available.
  • If you need cash or to deposit a check in person, plan ahead and visit your bank on December 31 or January 2.
  • Wire transfers, ACH transfers, and bill payments may process more slowly over the holiday weekend, depending on when January 1 falls.
  • Credit unions and online-only banks may have different holiday schedules, so contact yours directly if you are unsure.

What you can and cannot do on January 1

You can use your debit card at any merchant, withdraw cash from any ATM, transfer money between your own accounts online, pay bills through your bank's website or app, and check your account balance anytime. None of these require a branch to be open.

You cannot visit a branch in person, speak to a teller, deposit a physical check at a teller window, get a cashier's check, open a new account at a branch, or access a safe deposit box. If you need any of these services, do them on December 31 or wait until January 2.

When deposits and transfers actually post over the holiday

If you deposit a check using your bank's mobile app (mobile deposit) on January 1, it will be received by the bank, but it may not post to your account until January 2 or later. The exact timing depends on what time you deposit it and your bank's processing schedule.

ACH transfers (transfers between banks) initiated on January 1 typically do not process until January 2 or 3 because the Federal Reserve does not process ACH on federal holidays. Wire transfers sent on January 1 may also be delayed, though some banks can send wires on holidays if you initiate them before a certain cutoff time — usually 2 p.m. or earlier. Call your bank if you need a wire sent urgently on January 1.

Payments you make through bill pay on January 1 will be scheduled for processing, but the actual payment to the biller may not leave your account until January 2 or later, depending on the payee and your bank's system.

Credit unions and online banks may have different hours

Some credit unions close on January 1, but not all. A few credit unions stay open on federal holidays or have limited hours. Check your credit union's website or call the branch you plan to visit.

Online-only banks like Ally, Charles Schwab, and Discover do not have physical branches, so there are no branch hours to worry about. You can use their apps and websites on January 1 just as you would any other day. However, deposits and transfers still follow the same Federal Reserve holiday schedule, so processing times may be longer.

Planning ahead for January 1

If you know you will need cash on January 1, withdraw it on December 31. If you need to deposit a check, use mobile deposit through your bank's app on January 1 — it will be received, even if it does not post until January 2. If you need a wire transfer or cashier's check, handle it on December 31 or wait until January 2.

If January 1 falls on a Friday, the following Monday (January 3) may also see slower processing because many banks observe the holiday on the nearest weekday. Plan accordingly if you have time-sensitive transactions.

What to do if you need help on January 1

Call your bank's customer service line. Most banks staff their phone lines on federal holidays, even when branches are closed. You can ask about wire transfer cutoff times, confirm when a deposit will post, or get help with account issues.

If your bank has a 24/7 customer service number, use that. If you are unsure what number to call, check your bank statement or the back of your debit card — the customer service number is usually printed there.

Frequently Asked Questions

Can I use my debit card on January 1?

Yes. Debit cards work at any merchant or ATM on January 1, even though bank branches are closed. ATMs are available 24/7 regardless of bank holidays.

Will my direct deposit come through on January 1?

If your employer processes payroll on January 1, the deposit may be delayed because the Federal Reserve does not process ACH transfers on federal holidays. Most employers deposit on the last business day before the holiday instead. Check with your payroll department about their schedule.

Can I deposit a check on January 1 using my phone?

Yes. Mobile deposit works on January 1, and your bank will receive the check. However, it may not post to your account until January 2 or later, depending on the time you deposit it and your bank's processing rules.

What if I need a wire transfer on January 1?

Call your bank's customer service line before 2 p.m. on January 1. Some banks can send wires on federal holidays if you request them early enough. If you miss the cutoff, the wire will process on January 2.

Are online banks open on January 1?

Online banks do not have physical branches, so there are no branch hours. You can use their apps and websites on January 1. However, deposits and transfers still follow Federal Reserve holiday schedules, so processing may take longer.