Indigenous Peoples Day is a federal holiday, but most banks stay open

Indigenous Peoples Day became a federal holiday in 2021, which means federal offices close on the second Monday in October. Banks do not automatically close on federal holidays — that decision belongs to each bank individually. Most major banks remain open on Indigenous Peoples Day, though some branches may have reduced hours or closures depending on the bank's policy and your location.

The confusion happens because federal holidays and bank holidays are not the same thing. A federal holiday means the U.S. government offices shut down and federal employees get the day off. A bank holiday is a separate designation that a financial institution chooses to observe. Banks can close on federal holidays, but they are not required to, and many do not.

Key Takeaways

  • Indigenous Peoples Day is a federal holiday observed on the second Monday in October, but federal holidays do not automatically close banks.
  • Most major banks stay open on Indigenous Peoples Day, though you should check your specific bank's holiday schedule before planning transactions.
  • Some regional banks and credit unions may close on Indigenous Peoples Day, so calling ahead is the fastest way to confirm.
  • The Federal Reserve does not process transactions on Indigenous Peoples Day, which can delay wire transfers and ACH payments even if your bank is open.

Which banks close on Indigenous Peoples Day

The largest U.S. banks — Bank of America, Chase, Wells Fargo, Citibank, and U.S. Bank — keep branches open on Indigenous Peoples Day. Some branches may have shorter hours, but you can typically conduct business. Smaller regional banks and credit unions vary: some close, others stay open. Your best move is to check your bank's website or call your local branch directly rather than assume.

If you use an online-only bank like Ally, Chime, or Marcus, the distinction matters less since you are not visiting a physical location. However, the Federal Reserve's closure still affects when transactions clear, which we cover below.

What happens to wire transfers and payments on Indigenous Peoples Day

Even if your bank is open on Indigenous Peoples Day, the Federal Reserve is closed. This means wire transfers, ACH payments (the system that moves money between accounts), and other transactions that move through the Federal Reserve do not process that day. A wire you send on Indigenous Peoples Day will not leave your account until the next business day, and the recipient will not receive it until the day after that.

If you have a time-sensitive payment due on or shortly after Indigenous Peoples Day, send it the business day before. This applies whether your bank is open or closed — the Federal Reserve closure is what matters for clearing times.

How to learn about your bank closes on Indigenous Peoples Day

Call your bank's customer service line or visit the bank's website and search for "holiday hours" or "holiday schedule." Most banks publish their Indigenous Peoples Day hours by late September. If you use a smaller regional bank or credit union, the website may not list it — a phone call to your branch is faster than searching.

Write down the hours before Indigenous Peoples Day arrives. If you need to do banking that day, knowing in advance whether your branch is open saves a wasted trip.

Planning around Indigenous Peoples Day if your bank is closed

If your bank closes on Indigenous Peoples Day and you need to handle something that day, use ATMs or mobile banking. Most banks allow deposits, withdrawals, and transfers through ATMs and apps even when branches are closed. Check your bank's app to see what you can do remotely.

For anything that requires a teller — depositing checks, opening accounts, getting a cashier's check — plan to do it the business day before or after. If you are waiting for a payment to clear, remember that the Federal Reserve closure means nothing processes that day, so do not expect money to arrive until the next business day at the earliest.

Indigenous Peoples Day versus Columbus Day

Some states and cities still observe Columbus Day on the second Monday in October instead of Indigenous Peoples Day. A few places observe both. This does not change bank behavior — banks follow federal holidays, not state or local ones. Your bank's Indigenous Peoples Day hours are what matter, regardless of what your state calls the day.

If you live in a state that still uses Columbus Day, your bank will still treat it as a federal holiday closure for Federal Reserve purposes, even if the state does not officially recognize Indigenous Peoples Day.

Frequently Asked Questions

Can I use my ATM on Indigenous Peoples Day if the branch is closed?

Yes. ATMs operate 24/7 at most banks, regardless of whether the branch is open. You can withdraw cash, deposit checks (if your ATM has that feature), and transfer money between your own accounts on Indigenous Peoples Day.

Will my direct deposit process on Indigenous Peoples Day?

Direct deposits scheduled for Indigenous Peoples Day will not process until the next business day because the Federal Reserve is closed. If you are expecting a paycheck that day, it will arrive on Tuesday instead.

Do credit unions close on Indigenous Peoples Day?

Some do, some do not. Credit unions are not required to follow federal holidays. Check your credit union's website or call to confirm their Indigenous Peoples Day hours before you need to visit.

What if I need to pay a bill on Indigenous Peoples Day?

Pay online or through your bank's app — those work even if the branch is closed. If you are paying by check, mail it early so it arrives before the due date. Electronic payments sent on Indigenous Peoples Day will not process until the next business day.