Most banks are closed on New Year's Day
New Year's Day (January 1) is a federal holiday in the United States, and nearly all banks observe it as a day off. This means branch locations will be closed, and you won't be able to visit a teller, use a safe deposit box, or conduct in-person business.
However, you can still access your money through ATMs and online banking. ATMs operate 24/7 at most banks, and you can transfer funds, check balances, and pay bills through your bank's website or mobile app even when branches are closed.
If you need cash before the holiday, withdraw it the day before. If you need to deposit a check or handle something that requires a teller, you'll need to wait until the branch reopens on January 2.
Key Takeaways
- Bank branches close on New Year's Day, but ATMs and online banking remain available around the clock.
- Withdrawals, transfers, and bill payments can all happen through ATMs or your bank's app or website during the holiday.
- Checks deposited through mobile deposit or ATMs on New Year's Day may not post until January 2 or later, depending on your bank's processing schedule.
- Wire transfers and ACH payments initiated on New Year's Day typically process the next business day, which is January 2.
- If you need to speak to a person, call your bank's customer service line — many banks staff phone support even when branches are closed.
What you can do on New Year's Day without visiting a branch
ATMs let you withdraw cash, deposit checks (if your bank offers mobile deposit or ATM deposit), transfer money between accounts, and check your balance. Most banks' ATMs work the same way on holidays as they do any other day.
Online banking and mobile apps let you pay bills, transfer funds between your accounts or to other people, deposit checks by photograph (if your bank offers mobile deposit), and review your transaction history. These services don't depend on branch hours.
Phone support is often available even when branches are closed. Call the number on the back of your debit card or your bank statement to reach customer service. Wait times may be longer than usual, but many banks maintain phone lines on federal holidays.
When deposits and transfers actually post
Deposits made on New Year's Day won't show up in your account immediately. A check deposited through an ATM or mobile app on January 1 typically posts on January 2 or 3, depending on when your bank processes overnight deposits and whether January 2 is a business day for the receiving bank.
ACH transfers (payments to other bank accounts) and wire transfers initiated on New Year's Day will process on January 2, the next business day. If you need money to reach someone by a specific date, account for this delay.
Debit card purchases and ATM withdrawals happen right away, so those are safe to rely on during the holiday.
Banks that may have different hours
Most major banks — Chase, Bank of America, Wells Fargo, Citibank, and others — close all branches on New Year's Day. Credit unions typically do the same, though a few smaller or regional credit unions may have different policies.
Online-only banks like Ally, Charles Schwab, and Discover don't have physical branches, so the holiday doesn't affect their services. You can still move money and pay bills through their apps and websites.
Check your specific bank's website or call ahead if you're unsure. Most banks post holiday hours on their homepage or in their mobile app.
What to do if you need cash before the holiday
Visit your bank's ATM or branch on December 31 to withdraw the cash you'll need for January 1 and 2. If you're running low on cash and the holiday is already here, use your debit card instead — most stores and restaurants accept cards, and you can get cash back at grocery stores and pharmacies even when banks are closed.
If you absolutely need to speak to someone at your bank on New Year's Day, try calling customer service. Response times will be slower than usual, but many banks keep phone lines staffed for emergencies.
How to plan ahead for holiday closures
Mark federal holidays on your calendar so you know when branches will be closed. The major ones that affect banking are New Year's Day, Memorial Day, Independence Day, Labor Day, Thanksgiving, and Christmas. Most banks also close on Presidents' Day and a few others.
If you have a large deposit or withdrawal planned, do it the business day before the holiday. If you need to pay a bill by a certain date, submit it at least one business day early to account for processing delays.
Set up automatic bill payments through your bank's online system so you don't have to worry about holiday closures affecting your due dates. Most banks let you schedule payments weeks in advance.
Frequently Asked Questions
Can I use my debit card on New Year's Day?
Yes. Debit cards work at stores, ATMs, and online merchants on holidays. The bank branch is closed, but the payment network is open. You can also get cash back at grocery stores and pharmacies.
Will a check I deposit on New Year's Day clear by January 2?
No. Checks deposited on the holiday won't post until January 2 or 3, depending on your bank's processing schedule. If you need the money urgently, deposit it on December 31 instead.
Can I wire money on New Year's Day?
You can initiate a wire transfer through your bank's online system or app on January 1, but it won't actually send until January 2, the next business day. If the receiving bank is also closed, it may take until January 3 to arrive.
What if my bank's customer service line is busy on New Year's Day?
Call back later or use your bank's online chat feature if available. Most banks offer chat support through their website or app even when phone lines are backed up. You can also wait until January 2 for non-urgent issues.
Do online banks close on New Year's Day?
No. Banks without physical branches stay open on all holidays. You can transfer money, pay bills, and access your account normally through their website or app on January 1.