Most banks close early or stay closed on December 31st
December 31st is not a federal holiday, so banks are not required by law to close. However, most major banks do close on this day or operate on reduced hours. Chase, Bank of America, Wells Fargo, and Citibank typically close their branches on December 31st. Some regional banks stay open but close earlier than usual — often at noon or 2 p.m. instead of their standard 5 or 6 p.m. closing time.
The reason is simple: December 31st is New Year's Eve, and banks treat it as a day when most customers do not need in-person services. ATMs and online banking remain available even when branches close, so you can still withdraw cash and move money between accounts.
Your specific bank's hours depend on the institution and the individual branch. A branch in a busy downtown area may stay open longer than one in a quieter neighborhood. The only way to know for certain is to check your bank's website or call the branch directly.
Key Takeaways
- Most major bank branches close entirely on December 31st, though ATMs and online banking stay available.
- Some regional and smaller banks open on December 31st but close several hours earlier than normal.
- Hours vary by branch and institution, so check your bank's website or call ahead rather than assuming.
- If you need cash or to move money on December 31st, use your ATM or online banking instead of visiting a branch.
- January 1st is a federal holiday, so all banks will be closed that day regardless of their December 31st schedule.
How to find your bank's December 31st hours
The fastest way is to visit your bank's website and search for branch hours or holiday hours. Most banks post their December 31st schedule in November or early December. Look for a link labeled "Branch Hours," "Holiday Hours," or "Locations."
If your bank's website does not list December 31st specifically, call the branch directly. The phone number is usually on the website or in your bank statements. Ask whether the branch will be open on December 31st and, if so, what time it closes.
You can also use Google Maps: search for your bank's name and branch location, and the hours listed often include holiday adjustments. However, Google's information is sometimes outdated, so a phone call is more reliable if you are making a special trip.
What to do if you need money on December 31st
If your branch is closed or closes early, use your ATM. ATMs operate 24 hours a day, 7 days a week at most banks, even on December 31st. You can withdraw cash, check your balance, and transfer money between your own accounts without visiting a branch.
If you need to deposit a check or handle a transaction that requires a teller, do it before December 31st. Most banks process deposits made at ATMs or through mobile apps, but these take one to two business days to clear. A check deposited on December 31st will not be available until January 2nd at the earliest, since January 1st is a federal holiday and the banking system does not process transactions that day.
Online banking is also available on December 31st. You can pay bills, transfer money, and manage your accounts through your bank's website or app without needing a branch or ATM.
Banks closed on January 1st regardless of December 31st hours
Even if your bank is open on December 31st, it will be closed on January 1st. New Year's Day is a federal holiday, and all banks must close. This means any deposits made on January 1st will not be processed until January 2nd.
If you are planning transactions around the New Year, remember that the banking system does not process anything on January 1st. Wire transfers, check deposits, and ACH transfers initiated on January 1st will not go through until January 2nd. If you need money to clear by a specific date, plan ahead and complete your transaction on December 30th or earlier.
Wire transfers and ACH payments on December 31st
Wire transfers initiated on December 31st may or may not go through the same day, depending on what time you send them and your bank's cutoff time. Most banks have a cutoff time in the afternoon — often 2 or 3 p.m. — after which wire transfers are held until the next business day. Since January 1st is a holiday, a wire sent after the cutoff on December 31st will not be processed until January 2nd.
ACH transfers (the system used for direct deposits, bill payments, and transfers between banks) follow the same rule. Transactions initiated on December 31st after the cutoff time will not process until January 2nd. Check your bank's website or call to confirm the exact cutoff time if you are sending money on December 31st.
Planning ahead for year-end banking
If you have bills due on January 1st or early January 2nd, pay them on December 30th or earlier. Do not wait until December 31st, because the extra day for processing plus the January 1st holiday can cause a payment to arrive late.
If you are expecting a deposit on January 1st — such as a paycheck or tax refund — it will not arrive until January 2nd at the earliest. Government payments and employer deposits scheduled for January 1st are typically held and released on January 2nd instead.
For large transactions or anything time-sensitive, contact your bank directly in late December to confirm processing times and cutoff hours. A five-minute phone call can prevent a missed deadline or late payment.
Frequently Asked Questions
Can I use my debit card on December 31st if the branch is closed?
Yes. Your debit card works at any ATM or merchant 24 hours a day, regardless of whether your bank's branch is open. You can withdraw cash, make purchases, and check your balance without visiting a branch.
Will my direct deposit go through on January 1st?
No. January 1st is a federal holiday, so the banking system does not process deposits that day. A paycheck or other deposit scheduled for January 1st will arrive on January 2nd instead. Some employers deposit the day before to account for this.
What time do banks usually close on December 31st?
It varies. Some banks close at noon, others at 2 p.m., and some stay open until their normal closing time. A few major banks close entirely. Check your specific branch's hours online or by phone.
Can I deposit a check at an ATM on December 31st?
Yes, but it will not be available until January 2nd because January 1st is a holiday and the bank does not process deposits that day. Mobile check deposits work the same way.
Are credit unions open on December 31st?
Most credit unions follow the same schedule as banks — either closed or open with reduced hours on December 31st. Call your credit union to confirm, as hours vary by institution and location.