Presidents Day is a federal holiday, so most banks close on that day

Presidents Day falls on the third Monday in February each year. On that day, most banks in the United States close their physical branches and do not process transactions the way they normally do. The Federal Reserve also closes, which affects how money moves between banks.

However, "closed" does not mean you lose access to your money entirely. ATMs stay open, online banking continues to work, and any transfers you schedule in advance will process on the next business day. The closure mainly affects in-person services like speaking to a teller, getting a cashier's check, or resolving account issues that require a human on the other end of the phone.

Some banks and credit unions do stay open on Presidents Day — particularly smaller regional institutions or those that operate on a different holiday schedule. Check with your specific bank before the holiday to know whether your branch will be open.

Key Takeaways

  • Most banks close their physical branches on Presidents Day, but ATMs and online banking remain available.
  • The Federal Reserve does not process transfers between banks on Presidents Day, so any transaction you initiate that day will settle the next business day.
  • Checks you deposit on Presidents Day will not clear until at least the day after the holiday, sometimes longer depending on your bank's processing schedule.
  • Some smaller banks and credit unions stay open on Presidents Day, so contact your institution directly if you need in-person service that day.

What happens to deposits and transfers on Presidents Day

If you deposit a check at an ATM on Presidents Day, your bank will receive it, but it will not clear until the next business day at the earliest. The Federal Reserve's payment systems are closed, so no bank-to-bank transfers happen on the holiday itself. Your bank will process the deposit the morning of the next business day.

Wire transfers and ACH transfers (the electronic transfers used for direct deposit and bill pay) that you schedule to go out on Presidents Day will typically process the next business day instead. If you need money to move on a specific date, schedule it for the day before the holiday or the day after, depending on which direction it needs to go.

Money already in your account is still yours and still earns interest. The holiday does not freeze your balance — it only delays the processing of new transactions that require the Federal Reserve or other banks to move money.

ATM access and online banking during the holiday

Your ATM card works on Presidents Day the same way it works on any other day. You can withdraw cash, check your balance, and deposit checks at ATMs that are part of your bank's network or at shared ATM networks. Some ATMs may run out of cash if they are not refilled before the holiday, but this is rare.

Online banking — checking your balance, transferring money between your own accounts, paying bills, or sending money to other people through your bank's app — continues to work on Presidents Day. The transactions you initiate may not settle until the next business day, but you can still use the service.

Mobile payment apps like Venmo, PayPal, and Cash App also work on Presidents Day, though the underlying bank transfers may take longer to complete if they cross multiple institutions.

How to plan ahead if you need cash or services on Presidents Day

If you know you will need cash on Presidents Day, withdraw it the day before. This is the simplest way to avoid any surprise. If you need a service that requires speaking to a teller — such as getting a cashier's check, ordering a wire transfer, or resolving a dispute — do that on Friday before the holiday or wait until Tuesday after.

If you are expecting a direct deposit on or around Presidents Day, check with your employer about the exact date it will be sent. Some employers send payroll the day before a federal holiday to may support it lands in accounts on time. If your direct deposit is scheduled for Presidents Day itself, it will likely arrive on Tuesday instead.

For bill payments, schedule them at least one business day before they are due if the due date falls on or near Presidents Day. This gives the payment time to process and reach the creditor on time, avoiding late fees.

Which banks stay open on Presidents Day

Most national banks (Chase, Bank of America, Wells Fargo, Citibank) and large regional banks close on Presidents Day. However, some credit unions, smaller regional banks, and online-only banks operate on different schedules. A few banks stay open on federal holidays as a competitive advantage or because they serve customers in industries that do not observe the holiday.

The only way to know for certain is to contact your bank directly or check their website. Search for "[Your Bank Name] Presidents Day hours" or call the branch you plan to visit. Do this a few days before the holiday, not on the morning of, because you may not reach anyone if the branch is already closed.

What to do if you have an urgent banking need on Presidents Day

If you have a genuine emergency — a fraudulent charge, a missing deposit, or a locked account — call your bank's customer service line. Most banks maintain a 24/7 phone line for account holders, even on federal holidays. You may not be able to resolve everything when ready, but you can report the problem and get a timeline for when it will be addressed.

If the issue involves fraud or a security concern, report it right away. Banks have fraud departments that operate around the clock. The sooner you report unauthorized activity, the sooner your bank can freeze the account and begin an investigation.

For non-urgent issues, wait until the next business day. Trying to resolve a routine problem on a holiday when most staff are not working will only delay the solution.

Frequently Asked Questions

Will my paycheck deposit on Presidents Day if my employer sends it that day?

Most likely not until the next business day. Direct deposits are processed through the Federal Reserve's automated clearing house, which is closed on Presidents Day. If your employer sends payroll on the holiday, it will land in your account on Tuesday morning instead. Check with your employer about their payroll schedule around federal holidays.

Can I use my debit card to buy things on Presidents Day?

Yes. Your debit card works normally on Presidents Day for purchases at stores, restaurants, and online retailers. The transaction will process, though it may not settle in your account until the next business day. You will still have access to your funds.

What if I need to deposit a check but the bank is closed?

Use an ATM if your bank has one. Most banks allow check deposits through ATMs 24/7. The check will be received and processed the next business day. If your bank does not have ATM check deposit, wait until the branch reopens on Tuesday.

Do online banks close on Presidents Day?

Online banks do not have physical branches, so there is no "closing" in the traditional sense. However, their underlying operations still depend on the Federal Reserve, so transfers between accounts at different institutions will not process until the next business day. You can still log in and use your account.

Will my bill payment go through if I schedule it for Presidents Day?

It depends on when you schedule it and when it is due. If you schedule a bill payment for Presidents Day itself, it will likely process the next business day. To be safe, schedule payments at least one business day before the due date, especially around federal holidays.