Most banks are closed on MLK Day, but some branches and services stay open

Martin Luther King Jr. Day falls on the third Monday in January each year. In 2025, that is January 20. Most major banks treat it as a federal holiday and close their physical branches that day. However, ATMs and online banking remain available, and some banks operate limited hours or keep select locations open.

The banks that close on MLK Day include Bank of America, Chase, Wells Fargo, Citibank, and most regional and community banks. Credit unions typically close as well. If you need to deposit a check or withdraw cash in person, you will need to plan ahead or use an ATM.

The Federal Reserve, which sets the official holiday schedule, designates MLK Day as a day when banks do not process transactions through the clearing system. This means checks deposited on MLK Day will not clear until the next business day, and wire transfers will not process until Tuesday.

Key Takeaways

  • Physical bank branches close on MLK Day, but ATMs work normally and you can access your account online.
  • Checks deposited on MLK Day will not clear until the next business day, so plan accordingly if you need the funds quickly.
  • Wire transfers and other electronic transfers do not process on MLK Day and will go through the next business day instead.
  • Some banks operate limited-hour branches or in-store banking at grocery stores on the holiday; call your local branch to confirm.
  • Credit unions follow the same holiday schedule as banks and are closed on MLK Day.

What you can and cannot do on MLK Day

You can withdraw money from any ATM, check your balance, transfer funds between your own accounts, and pay bills online. You can also deposit checks using mobile deposit (taking a photo of the check through your bank's app), though the funds will not be available until the next business day.

You cannot visit a branch to speak with a teller, open a new account in person, explore for a loan, or conduct other transactions that require a banker. If you need cash and do not have an ATM card, you will need to withdraw money on the day before or after the holiday.

Wire transfers initiated on MLK Day will sit in a queue and process on Tuesday morning. The same applies to ACH transfers (the system used for direct deposit and bill pay). If you are expecting a paycheck or payment to arrive on MLK Day, it will arrive on Tuesday instead.

How to plan ahead if you need banking services

If you know you will need cash or need to deposit a check, do it on Friday before the holiday. Most banks are open until 5 or 6 p.m. on Fridays, and some have Saturday hours. Depositing on Friday means the check clears by Monday, even though the bank is closed that day.

If you forget and need cash on MLK Day itself, use an ATM. Every major bank operates its ATM network 24/7, and you can withdraw from any ATM in your bank's network without a fee. If you need to use an out-of-network ATM, you may pay a surcharge of $2 to $3.

For time-sensitive transactions like wire transfers or loan applications, plan to complete them by Friday afternoon. If you miss the important date and the transaction is urgent, some banks offer customer service phone lines on holidays, though they cannot process transactions until the next business day.

Banks that may have limited hours on MLK Day

A small number of banks stay open on federal holidays, particularly in areas with high foot traffic or where the bank operates 24-hour locations. Some grocery stores with in-store banking (such as Kroger or Safeway) may have banking services available during regular store hours, though the bank itself is technically closed.

The only way to know whether your specific branch is open is to call ahead or check your bank's website. Most banks publish holiday hours in early January. Search "[Your Bank Name] MLK Day hours" or call the branch directly on the Friday before to confirm.

Online-only banks like Ally, Charles Schwab, and Discover have no physical branches, so the concept of "closed" does not explore to them. You can deposit checks, transfer money, and manage your account normally on MLK Day through their apps and websites.

What happens to scheduled payments and direct deposits

If you have a bill payment scheduled to go out on MLK Day, most banks will hold it and process it on Tuesday instead. This means your payment arrives one day later than usual. If the payment is due on MLK Day itself, contact your biller before the holiday to let them know the payment will arrive on Tuesday; most creditors and utilities account for federal holidays.

Direct deposits scheduled for MLK Day will arrive on Tuesday. If your paycheck normally hits your account on Monday and MLK Day falls on that Monday, your employer may have already deposited it on Friday, or it will arrive on Tuesday. Check with your payroll department if you are unsure.

Automatic payments set up through your bank (like mortgage or rent payments) follow the same rule: they process on the next business day. This does not incur a late fee as long as your biller knows the payment is coming.

Frequently Asked Questions

Can I use my debit card on MLK Day if the bank is closed?

Yes. Your debit card works at any merchant, ATM, or online retailer on MLK Day. The bank being closed does not affect your ability to spend money or withdraw cash from ATMs. Transactions may take longer to post to your account, but the card itself functions normally.

Will my paycheck arrive on time if MLK Day is a Monday?

It depends on when your employer processes payroll. If they process on Friday, your check arrives Friday. If they process on Monday, your check will arrive on Tuesday instead. Contact your payroll or HR department to confirm their schedule around the holiday.

What if I need to deposit a check on MLK Day?

Use mobile deposit through your bank's app if available. Take a photo of the front and back of the check and submit it. The funds will not be available until Tuesday, but the deposit is recorded. If you do not have mobile deposit, deposit the check on Friday or Tuesday at an ATM or branch.

Do credit unions close on MLK Day?

Most credit unions close on MLK Day because it is a federal holiday. However, some larger credit unions may have limited hours or stay open. Call your credit union on Friday to confirm their MLK Day schedule.

Can I transfer money between banks on MLK Day?

You can initiate the transfer through your bank's website or app, but it will not process until Tuesday. The Federal Reserve does not process ACH transfers on federal holidays, so the money will not arrive in the other account until the next business day.