Most banks are closed on Memorial Day, but your money still moves
Banks observe Memorial Day as a federal holiday, which means branch locations are closed and you cannot visit a teller or use the lobby. However, your account does not freeze. Deposits made before the holiday process on the next business day, and transfers between your own accounts continue to work through online banking and ATMs.
The specific impact depends on what you need to do. If you are depositing a check or moving money between institutions, timing matters. If you are paying a bill or checking your balance, you can do both from your phone or computer without delay.
Key Takeaways
- Bank branches close on Memorial Day, but ATMs, online banking, and mobile apps remain available 24 hours.
- Checks deposited on Memorial Day are processed the next business day, not the same day.
- Wire transfers and ACH transfers initiated on Memorial Day typically process the next business day, depending on the time you submit them.
- If you need to speak to a banker or handle something that requires a teller, you will need to wait until Tuesday.
- Credit unions follow the same holiday schedule as banks, though some may have different hours on the day before or after.
What you can and cannot do on Memorial Day
ATMs work normally on Memorial Day. You can withdraw cash, deposit checks using a mobile check deposit feature (if your bank offers it), and transfer money between your own accounts through the ATM. Your debit card works everywhere it normally does.
Online banking and mobile apps are open. You can check your balance, pay bills, set up transfers, and view transaction history. Any action you take through your bank's website or app on Memorial Day will be recorded, but processing times follow the next-business-day rule.
You cannot visit a branch, speak to a teller, or access services that require a person. This includes depositing cash, getting a cashier's check, explore for a loan, or resolving a dispute that needs when ready investigation. If you need any of these, plan ahead or wait until Tuesday.
How deposits and transfers work across the holiday
A check deposited on Memorial Day does not process until Tuesday. If you use mobile check deposit (photographing the check through your app), the image is submitted on Monday, but the bank does not clear the funds until the next business day. The funds may show as pending in your account by Tuesday morning, but they are not available to withdraw until Wednesday in most cases.
ACH transfers (the system used for bill payments and transfers between banks) initiated on Memorial Day are queued and process on Tuesday. If you set up a bill payment on Monday for a Tuesday due date, it will likely miss that important date. The payment goes out Wednesday instead. Wire transfers work the same way: submitted on Monday, processed on Tuesday.
Transfers between accounts at the same bank usually show when ready in your account, even on a holiday, because they are internal movements. However, transfers to another bank are subject to the next-business-day rule.
Planning ahead if you need cash or a service
If you know you will need cash on Memorial Day, withdraw it on Friday or Saturday. ATMs are always available, but if you need more than your daily withdrawal limit allows, you must visit a branch before the holiday.
If you need a cashier's check, a wire transfer processed the same day, or help with a fraud claim, handle it on Friday. Monday is too late. The same applies if you need to deposit a large amount of cash or resolve an account issue that requires a banker's judgment.
For bill payments due on or around Memorial Day, submit them by Friday. This gives the payment time to process and clear before the due date. If you miss Friday, contact the biller and ask for a grace period, or pay by phone with a representative if that option is available.
What happens to automatic payments and direct deposits
Payroll direct deposits scheduled for Memorial Day are delayed. If your employer normally deposits your paycheck on Monday, it arrives on Tuesday instead. This is true even if your employer submitted the deposit on Friday—the banking system does not process it until the next business day after the holiday.
Automatic bill payments set to go out on Memorial Day are also delayed by one day. If your mortgage or utility payment is due on Monday, and you have automatic payment set for that date, the payment leaves your account on Tuesday. Contact your biller in advance if this creates a problem, because some lenders charge a late fee even when the delay is the bank's holiday schedule.
Recurring transfers you have set up (like moving money to savings every Monday) follow the same rule. They process on the next business day.
Memorial Day timing for different types of banks
National banks like Chase, Bank of America, and Wells Fargo close on Memorial Day. Regional banks and community banks do the same. Credit unions observe the holiday as well, though some may have different hours on the Friday before or the Tuesday after.
Online-only banks (like Ally or Charles Schwab Bank) do not have branches, so there is nothing to close. However, they still follow the federal holiday schedule for processing deposits, transfers, and other transactions. A check deposited on Memorial Day still does not clear until Tuesday.
If you bank with a credit union, check your institution's specific holiday schedule. Some credit unions are closed on the day before the holiday instead, or have limited hours. Call ahead or check their website if you are unsure.
Frequently Asked Questions
Can I use my debit card on Memorial Day?
Yes. Your debit card works at any merchant, ATM, or online store on Memorial Day. The bank holiday only affects branch services and processing times for deposits and transfers, not card transactions.
Will my paycheck arrive on time if it is scheduled for Memorial Day?
No. Payroll deposits scheduled for Monday are processed on Tuesday. If you need the money on Monday, ask your employer to deposit it on Friday instead, or arrange an advance if possible.
What if I need to deposit cash on Memorial Day?
You cannot deposit cash at a branch on Monday. If you have a deposit envelope and your bank has an after-hours drop box, you can use that, but the cash will not be credited to your account until Tuesday. ATM cash deposits work the same way.
Does the stock market close on Memorial Day?
Yes. The New York Stock Exchange and NASDAQ both close on Memorial Day. If you have a brokerage account, you cannot buy or sell stocks on Monday. Any orders you place are queued and execute on Tuesday when the market opens.
Can I pay a bill online on Memorial Day?
Yes, you can submit a bill payment through your bank's website or app on Monday. However, the payment will not leave your account and reach the biller until Tuesday. Plan accordingly if the bill is due on Monday.