Most banks close on Martin Luther King Jr. Day, but some branches stay open

Yes, most banks in the United States close on Martin Luther King Jr. Day, which falls on the third Monday of January each year. The Federal Reserve observes this as a federal holiday, so banks that are members of the Federal Reserve System — which includes nearly all major banks — close their physical branches and do not process certain transactions that day.

However, "closed" does not mean you have zero access to your money. ATMs stay open, online banking continues to work, and some banks operate limited hours at select locations. The specifics depend on which bank you use and where you bank.

Key Takeaways

  • Federal Reserve member banks close their branches on Martin Luther King Jr. Day, though ATMs and online banking remain available.
  • Some large banks open a few branches in major cities for limited hours, so check your bank's website or call ahead if you need in-person service.
  • Checks deposited on the holiday will not clear until the next business day, and bill payments scheduled for that day may process the day after.
  • Credit unions and smaller regional banks may have different holiday schedules, so verify with your specific institution.

What stays open when banks close

ATMs operate 24 hours on Martin Luther King Jr. Day, just as they do every other day. You can withdraw cash, check your balance, and deposit checks at your bank's ATM network without interruption.

Online banking platforms remain active. You can log in to your account, transfer money between your own accounts, pay bills online, and check transactions from home or your phone. The only limitation is that some transactions — like wire transfers or certain account changes — may not process until the next business day.

Mobile banking apps work the same way. Deposits made through mobile check deposit on the holiday will be timestamped as received, but the funds will not actually clear until the next business day.

Which banks might stay partially open

Large national banks like Bank of America, Chase, Wells Fargo, and Citibank sometimes keep a limited number of branches open in major metropolitan areas on federal holidays. These branches typically operate shorter hours — often 10 a.m. to 2 p.m. — and may have reduced staff.

The best way to find out is to visit your bank's website and search for "holiday hours" or call your specific branch directly. Do not assume your location will be open just because the bank operates in your city. Availability varies by branch.

Credit unions and smaller regional banks have their own holiday schedules. Some observe Martin Luther King Jr. Day; others do not. Check with your institution directly rather than assuming.

How payments and deposits are affected

If you deposit a check at an ATM on Martin Luther King Jr. Day, the deposit is recorded when ready in your account for balance purposes, but the funds will not actually be available until the next business day. This is standard practice for holiday deposits.

Bill payments you schedule online for Martin Luther King Jr. Day will typically process the next business day instead. If you have a payment due that day, schedule it for the day before to avoid any delay. The same applies to transfers between accounts at different banks.

Wire transfers requested on the holiday will not go out until the next business day. If you need money to move urgently, plan ahead and send it before the holiday.

Planning ahead for the holiday

If you know you will need cash or in-person banking services on or around Martin Luther King Jr. Day, withdraw money and handle transactions the day before. This eliminates any uncertainty about branch hours or processing delays.

If you need to deposit a check, use your ATM or mobile app rather than waiting for a branch to open. The deposit will be recorded the same day, even if the funds do not clear until the next business day.

For any transaction that requires a teller — such as opening a new account, getting a cashier's check, or discussing a loan — plan to visit your branch on a regular business day. Do not wait until the day before the holiday, when branches may be busier than usual.

What to do if you need help on the holiday

Most banks have customer service phone lines that operate on federal holidays, though wait times are often longer. Check your bank's website for the holiday customer service number, which may be different from the regular line.

If your issue is urgent and your bank's phone line is not helpful, visit an ATM to withdraw cash or use online banking to handle what you can. Many problems that feel urgent can be resolved through these channels without needing a teller.

If you bank at a credit union, call ahead to confirm their holiday schedule. Some credit unions do observe Martin Luther King Jr. Day while others remain open.

Frequently Asked Questions

Can I use my debit card on Martin Luther King Jr. Day?

Yes. Debit cards work at ATMs and for purchases at stores and online throughout the holiday. The bank closure only affects in-person branch services and certain back-office processing, not your ability to spend money or access your account.

Will my direct deposit come through on Martin Luther King Jr. Day?

Direct deposits scheduled for Martin Luther King Jr. Day typically arrive the next business day instead. If your paycheck is supposed to hit that day, it will usually appear in your account on the following Tuesday. Check with your employer or payroll department if you are unsure of the exact timing.

What if I need a cashier's check on Martin Luther King Jr. Day?

You cannot get a cashier's check on the holiday because that requires a teller. Plan ahead and get it the day before. If you need it urgently for a payment, ask the recipient whether they will accept a personal check or electronic transfer instead.

Do online banks close on Martin Luther King Jr. Day?

Online-only banks like Ally, Charles Schwab Bank, and Marcus do not have physical branches, so there is nothing to close. You can access your account and conduct transactions normally. However, customer service phone lines may have limited hours, and some back-office processing may be delayed.

Is Martin Luther King Jr. Day the same date every year?

No. Martin Luther King Jr. Day is observed on the third Monday of January, so the date changes each year. In 2024 it falls on January 15; in 2025 it falls on January 20. Check your bank's website each January to confirm the exact holiday schedule.