Most banks close on Martin Luther King Jr. Day
Most major banks in the United States close on Martin Luther King Jr. Day, observed on the third Monday in January. This is a federal holiday, and banks treat it the same way they treat Thanksgiving, Christmas, and Independence Day — branches shut down and you cannot visit in person or use the drive-through.
However, you can still access your money. ATMs work 24/7 on the holiday, so you can withdraw cash, check your balance, and deposit checks at any machine your bank operates. Online banking, mobile apps, and phone banking all run normally. The only thing you cannot do is walk into a branch and speak to a teller.
If you need to make a deposit or handle something that requires a person, you will have to wait until the next business day. Checks deposited via ATM or mobile app on the holiday will process the next day, just as they would on any other non-business day.
Key Takeaways
- Bank branches close on Martin Luther King Jr. Day, but ATMs and online banking stay open.
- You can withdraw cash, deposit checks via ATM or app, and check your balance on the holiday.
- Transactions processed on the holiday (like mobile check deposits) will post the next business day, not the same day.
- If you need to speak to a banker or handle something that requires a signature, plan to visit on Tuesday or later in the week.
- Credit unions and smaller banks may have different hours, so call ahead if you are unsure about your specific institution.
What you can and cannot do on the holiday
ATMs are your main tool on Martin Luther King Jr. Day. You can withdraw cash, deposit cash or checks, transfer money between your own accounts, and check your balance. Most banks do not charge extra fees for ATM use on holidays. If you use an out-of-network ATM (one that does not belong to your bank), you may pay a surcharge, but that applies any day of the week.
Online and mobile banking work exactly as they do on weekends. You can pay bills, send money to other people via Venmo or your bank's peer transfer service, move money between accounts, and review your transactions. The only limit is that some transactions may not process until the next business day — for example, a bill payment you submit on the holiday might not leave your account until Tuesday.
What you cannot do is visit a branch. You cannot deposit a check that requires a teller's signature, open a new account, apply for a loan, dispute a transaction in person, or get a cashier's check. You also cannot use the drive-through window. If any of these things are urgent, you will need to wait until Tuesday.
When deposits and payments actually post
Timing matters if you are counting on money arriving by a certain date. A check you deposit via ATM or mobile app on Martin Luther King Jr. Day will not post to your account until the next business day — Tuesday. This is the same rule that applies to deposits made on Saturday or Sunday.
Bill payments you submit online on the holiday will also post on the next business day. If you are paying a credit card bill or loan payment and the due date is Tuesday, submitting it on Monday (the holiday) should still count as on-time, because the bank will process it the next day. However, do not assume this — if a payment is due on Tuesday and you are cutting it close, submit it before the holiday ends on Sunday.
Wire transfers and ACH transfers (the electronic transfers used for payroll and bill payments) also follow the next-business-day rule. If your employer or a government agency sends you money via ACH on the holiday, it will land in your account on Tuesday, not Monday.
Credit unions and smaller banks may have different hours
Large national banks like Chase, Bank of America, Wells Fargo, and Citibank all close on Martin Luther King Jr. Day. But credit unions and regional banks sometimes stay open. Some credit unions observe the holiday and close; others do not. The only way to know for sure is to check your institution's website or call the branch directly.
If you belong to a credit union, log into your online account or call the main number listed on your card. The recorded message will tell you whether branches are open. Many credit unions post holiday hours on their website a few weeks in advance, so you can plan ahead.
Planning ahead to avoid problems
If you know you will need cash or need to make a deposit on or around Martin Luther King Jr. Day, handle it before the holiday. Withdraw cash on Friday or Saturday. Deposit checks via ATM or mobile app on Sunday if you need them to post by Tuesday. Pay bills online before the holiday if the due date is close.
If you are expecting a paycheck or government payment (like a tax refund or Social Security deposit) to arrive on the holiday, it will actually land on Tuesday. Do not assume the money is there on Monday morning — check your account Tuesday afternoon to confirm it posted.
If you have a time-sensitive transaction that requires a teller — like opening a new account, applying for a loan, or getting a cashier's check — schedule it for the week before or the week after. Trying to handle it on the holiday will only delay things.
What happens if you need emergency cash
If you run out of cash on Martin Luther King Jr. Day and need money urgently, your ATM is your only option through your own bank. You can withdraw from any ATM your bank operates, even if it is not your home branch. If you need more cash than your daily ATM limit allows, you will have to wait until Tuesday to visit a branch and request a higher withdrawal.
If you do not have a bank account or do not have access to an ATM, a convenience store or grocery store may cash a check for you, though they typically charge a fee and may have limits on the amount. Some Walmart locations cash checks on holidays. Call ahead to confirm they are open and what their policy is.
Frequently Asked Questions
Can I use my debit card on Martin Luther King Jr. Day?
Yes. Debit cards work at stores, restaurants, and online merchants on the holiday. The only thing that does not work is visiting a bank branch in person. Your card will function normally for purchases and ATM withdrawals.
Will a check I deposit on the holiday clear by the next day?
No. A check deposited via ATM or mobile app on the holiday will post to your account on Tuesday, the next business day. This is the standard rule for weekend and holiday deposits. If you need the money to clear faster, deposit it before the holiday ends on Sunday.
What if I have a payment due on Martin Luther King Jr. Day?
If a bill is due on the holiday, submit your payment online before the holiday ends. The bank will process it on Tuesday, and most creditors treat Tuesday-processed payments as on-time if the due date was Monday. However, do not wait until the last minute — submit it on Sunday to be safe.
Are wire transfers delayed on the holiday?
Yes. Wire transfers initiated on Martin Luther King Jr. Day will not process until Tuesday. If you need money to move urgently, send it before the holiday. Some banks allow you to schedule wire transfers in advance, so you can set one up on Friday to go out on Tuesday morning.
Can I open a bank account on Martin Luther King Jr. Day?
No. You must visit a branch in person or call a banker to open an account, and branches are closed on the holiday. Schedule this for Tuesday or later in the week. Some banks allow online account opening, so check your bank's website to see if that option is available.