President's Day is a federal holiday, but most banks stay open

President's Day falls on the third Monday in February. It is a federal holiday, which means federal offices close and federal employees get the day off. Banks, however, do not automatically close on federal holidays. Most banks remain open on President's Day, though some branches may have reduced hours.

The confusion happens because federal holidays and banking holidays are not the same thing. A federal holiday is declared by Congress and affects government offices. A banking holiday is a day when the Federal Reserve and most banks choose to close. The two lists overlap but are not identical. President's Day is on one list but not the other.

If you need to visit a branch or use an ATM on President's Day, call your bank first or check their website. Some regional banks or credit unions may close, and hours vary by location. ATMs work regardless of whether the branch is staffed, so you can withdraw cash or check your balance even if the building is locked.

Key Takeaways

  • President's Day is a federal holiday but not a banking holiday, so most banks operate normally with standard or slightly reduced hours.
  • The Federal Reserve does not process payments or clear checks on President's Day, which can delay transfers and deposits made that day.
  • ATMs remain available even when branches are closed, so you can access cash and perform basic transactions.
  • Some credit unions and regional banks may close on President's Day, so contact your institution directly to confirm hours.

What the Federal Reserve does and does not do on President's Day

The Federal Reserve closes on President's Day. This means the Fed does not process wire transfers, clear checks, or settle payments between banks on that day. Any transaction you initiate on President's Day will not move until the next business day, which is Tuesday.

This matters most if you are waiting for a deposit or sending money urgently. A check you deposit on President's Day will not clear until Wednesday at the earliest. A wire transfer you send on President's Day will not leave your account until Tuesday. If you need money to arrive by a specific date, plan around this delay.

The Fed's closure does not affect your ability to use your debit card, pay bills online, or check your balance. Those transactions happen within your bank's own system. Only payments that move between institutions get delayed.

Which banks close on President's Day and which stay open

Large national banks like Chase, Bank of America, Wells Fargo, and Citibank typically stay open on President's Day. They may operate with reduced staffing or shorter hours—often 10 a.m. to 2 p.m. instead of the usual 9 a.m. to 5 p.m.—but the branch is open.

Smaller regional banks and credit unions are more likely to close entirely. Some close on all federal holidays; others close only on the major ones. There is no single rule. Your bank's policy depends on its size, location, and internal decisions.

The best way to know is to check your bank's website or call the branch directly. Most banks list their holiday hours online. If you cannot find the information, call during business hours on the Friday before President's Day and ask.

How to handle payments and deposits around President's Day

If you need to deposit a check, do it before President's Day if the deposit matters for a important date. A check deposited on Friday will clear by Monday or Tuesday. A check deposited on President's Day itself will not clear until Wednesday or Thursday, depending on the bank and the check's origin.

If you are paying a bill by check, mail it early enough that it arrives before President's Day. If you are paying online, submit the payment on Friday so it processes on Monday. Payments submitted on President's Day may not process until Tuesday, which could cause a late fee if the due date is Monday.

Wire transfers work the same way. If you need money to arrive by a specific date, send it on Friday, not on President's Day. The Fed does not process wires on federal holidays, so timing matters.

ATM access and online banking on President's Day

ATMs operate 24/7 regardless of whether the branch is open or staffed. You can withdraw cash, deposit checks (at banks that have mobile deposit or ATM check deposit), transfer money between your own accounts, and check your balance on President's Day without any delay.

Online banking also works normally. You can log in, pay bills, transfer money between your accounts, and view transactions. The only thing you cannot do is move money between your bank and another institution—the Fed is not processing those transfers until Tuesday.

If your bank offers mobile deposit (taking a photo of a check through the app), you can deposit checks on President's Day. The check will not clear until the next business day, but you can submit it whenever you want.

Planning ahead for President's Day payments and important date

If you have a bill due on or around President's Day, pay it on Friday. This gives the payment time to process before the holiday. If the due date is Monday, February 17 (when President's Day falls), submit the payment on Friday, February 14.

If you are expecting a deposit—a paycheck, a tax refund, a transfer from another account—and it is supposed to arrive on President's Day, it will likely arrive on Tuesday instead. Ask your employer or the sending institution when they will initiate the transfer. If they send it on Friday, it may still clear by Monday. If they send it on Monday, it will not clear until Tuesday.

For time-sensitive transactions, use your bank's online system or call ahead to confirm processing times. Most banks have customer service lines open on federal holidays, even if branches are closed.

Frequently Asked Questions

Can I use my debit card on President's Day?

Yes. Debit cards work normally on President's Day because the transaction happens within your bank's system, not between banks. The Fed's closure does not affect debit purchases or ATM withdrawals.

Will my direct deposit arrive on President's Day?

Probably not. Most employers initiate direct deposits on Friday for Monday arrival. If President's Day is Monday, your deposit will likely arrive Tuesday instead. Check with your employer about their schedule.

What if I need to deposit a check on President's Day?

Use mobile deposit through your bank's app if available, or deposit at an ATM if your bank offers ATM check deposit. The check will not clear until the next business day, but you can submit it whenever you want.

Do credit unions close on President's Day?

Some do, some do not. Credit unions set their own holiday schedules. Call your credit union or check their website to confirm whether they are open on President's Day.

Will wire transfers process on President's Day?

No. The Federal Reserve does not process wire transfers on President's Day, so any wire you send that day will not leave your account until Tuesday.