If you need to run some errands during the upcoming holiday weekend, you may be wondering, are banks closed on MLK Day 2024? MLK Day is a federal holiday that celebrates the life and achievements of prominent civil rights leader Martin Luther King Jr. Government offices usually shut their doors on federal holidays like MLK Day, but do banks close too? Here’s what you need to know.
Are Banks Closed on MLK Day 2024?
If you’re wondering are banks closed on MLK Day 2024, unfortunately the answer is yes. Just like government offices, banks usually shut down to observe federal holidays. So you can expect your local branch to be closed on MLK Day, which falls on Monday, January 15th this year. You won’t be able to head to a credit union either, because they’re typically closed on federal holidays as well.
Luckily you can still take care of important financial tasks online through your bank’s mobile app or website. You’ll be able to transfer funds, schedule bill payments, check your balance, deposit checks, and more. But keep in mind that certain transactions may not process until the bank reopens on Tuesday, January 16th.
You should also be able to find an open ATM on the holiday. Many drive-through ATMs are open 24/7 even when the bank itself is closed, allowing you to withdraw the cash you need.
Bank Holidays 2024
Are banks closed on MLK Day 2024? Yes, and it’s not the only holiday banks and credit unions will observe in 2024. There are usually 11 bank holidays throughout the year, including:
- New Year’s Day – Monday, January 1st
- MLK Day – Monday, January 15th
- Presidents Day – Monday, February 19th
- Memorial Day – Monday, May 27th
- Juneteenth National Independence Day – Wednesday, June 19th
- Fourth of July – Thursday, July 4th
- Labor Day – Monday, September 2nd
- Columbus Day/Indigenous Peoples’ Day – Monday, October 14th
- Veterans Day – Monday, November 11th
- Thanksgiving Day – Thursday, November 28th
- Christmas Day – Wednesday, December 25th
If a holiday falls on a weekend, it’s usually observed on a business day instead to give employees a true day off. A holiday that occurs on a Sunday will typically be observed the following Monday, while one that falls on Saturday will be celebrated the preceding Friday.
Some banks and credit unions also choose to shut down early on major holidays that aren’t federally recognized, such as Christmas Eve, Black Friday, and New Year’s Eve. Banks are also closed on Mother’s Day and Easter because they fall on Sunday when most financial institutions are closed.
Regular Bank Hours
Regular banking hours can vary by brand and branch. However, many banks are open during normal business hours on weekdays from 8 a.m. or 9 a.m. until around 5 p.m. As for weekends, many banks close early on Saturdays and shut down completely on Sundays. However, there are exceptions.
Certain brands such as TD Bank may keep select locations open on Sundays. Branches inside supermarkets are also more likely to be open on Sunday than standalone bank locations, but always call ahead to confirm!
How are you planning to spend your holiday weekend? Let us know in the comments!
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Federal Holidays (Updated for 2024)
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Image and article originally from www.savingadvice.com. Read the original article here.