Yes, most banks close on Presidents Day

Presidents Day falls on the third Monday in February. On that day, most U.S. banks close their physical branches and do not process payments or transfers through the Federal Reserve system. This is a federal holiday, and the Federal Reserve itself is closed, which means the banking infrastructure that moves money between institutions shuts down.

If you need to deposit a check, withdraw cash, or speak to someone at a branch, you will not be able to do so on Presidents Day. However, ATMs and online banking remain available. Transfers you initiate online may not process until the next business day.

Key Takeaways

  • Most banks close their branches on Presidents Day, the third Monday in February, because it is a federal holiday.
  • The Federal Reserve does not operate on Presidents Day, so payments between banks do not clear that day.
  • ATMs work on Presidents Day, and you can log into online banking, but transfers and payments may not process until Tuesday.
  • Some credit unions and smaller banks may have different holiday schedules, so check with your institution directly.
  • If you need cash or a deposit before the holiday, plan ahead by visiting your branch on Friday or the preceding business day.

What stays open and what closes

Your bank's physical branch will be closed. You cannot walk in, speak to a teller, or use the drive-through window. However, ATMs connected to your bank's network work on Presidents Day just as they do on any other day. You can withdraw cash, check your balance, and deposit checks at an ATM if your bank offers mobile deposit or has an ATM that accepts envelopes.

Online banking portals and mobile apps remain active. You can log in, view your accounts, and set up transfers or bill payments. The catch is timing: if you initiate a transfer on Presidents Day, it will not actually move money until the next business day (Tuesday) because the Federal Reserve is closed and cannot process the transaction.

Wire transfers, ACH transfers, and check clearing all depend on the Federal Reserve operating. On Presidents Day, none of these happen. A payment you send on Monday will sit in a queue until Tuesday morning when the system restarts.

How the Federal Reserve closure affects your money

The Federal Reserve is the central banking system that clears payments between banks. When it closes for a federal holiday, no bank-to-bank transfers happen. This affects ACH transfers (the system used for direct deposits, bill payments, and transfers between accounts), wire transfers, and check clearing.

If your employer normally deposits your paycheck on a Monday that falls on Presidents Day, the deposit will process on Tuesday instead. If you send a bill payment on Presidents Day, it will not reach the biller until Tuesday or later. If you deposit a check at an ATM on Presidents Day, it will not clear until Tuesday.

This is why the day before a holiday matters: banks and employers plan around it. Some employers move payroll deposits to Friday if Monday is a holiday. Some billers expect payments to arrive a day later. The system is designed to account for this, but it means your money moves one day slower.

Which banks might stay open

Most national banks (Chase, Bank of America, Wells Fargo, Citibank) close all branches on Presidents Day. However, some credit unions, community banks, and online-only banks may have different policies. A few credit unions do not observe all federal holidays, though this is uncommon.

The only way to know for certain is to check your bank's website or call ahead. Search for "[Your Bank Name] Presidents Day hours" or look in the mobile app under branch locations. If you use an online-only bank with no physical branches, the holiday does not affect you at all—you can still access your account and initiate transfers, though they will not process until the next business day.

Planning ahead if you need cash or to deposit something

If you know you will need cash on Presidents Day or the day after, visit your branch on Friday or earlier in the week. Withdraw what you need while the branch is open. ATMs will work on Presidents Day, but if your bank's ATM is out of service or you need a larger amount than the ATM daily limit allows, you will be stuck.

If you have a check to deposit, use your bank's mobile deposit feature (most banks offer this through their app) on Presidents Day. The check will not clear until Tuesday, but at least it will be in the system. If your bank does not offer mobile deposit, deposit the check on Friday or wait until Tuesday.

If you need to send a bill payment or transfer money to another account, do it on Friday. Payments initiated on Presidents Day will not process until Tuesday, which could cause a late payment if the bill is due on Monday or Tuesday. Plan at least one business day ahead for any payment that has a important date.

What happens to paychecks and automatic payments

Direct deposits scheduled for Presidents Day will arrive on Tuesday instead. Your employer knows this and has already adjusted the payroll schedule. You will not miss a paycheck—it will straightforward arrive one day later.

Automatic bill payments (like mortgage, utilities, or insurance) that are set to process on Presidents Day will process on Tuesday. If the payment is due on Monday, contact the biller in advance to explain the delay. Most billers account for federal holidays and will not penalize you for a payment that arrives on Tuesday due to a Monday holiday.

If you have a payment due on Presidents Day itself and you have not yet sent it, you are already late. Send it when ready on Friday or earlier. Do not wait until Monday.

Frequently Asked Questions

Can I use my debit card on Presidents Day?

Yes. Debit cards work at merchants, ATMs, and online retailers on Presidents Day just like any other day. The bank branch is closed, but the card network is not. You can spend money; you just cannot visit a physical branch or process transfers through the Federal Reserve.

Will my paycheck arrive late if my employer deposits on Presidents Day?

Most employers move payroll deposits to Friday if Monday is a federal holiday. Check your pay stub or ask your HR department. If they do deposit on Presidents Day, it will arrive on Tuesday instead. You will not lose the paycheck—it will straightforward be one day late.

What if I need to deposit a check on Presidents 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 check will not clear until Tuesday, but it will be in the system. If your bank does not offer mobile deposit, wait until Tuesday to deposit it at an ATM or branch.

Do credit unions close on Presidents Day?

Most credit unions close on Presidents Day because it is a federal holiday. However, some smaller or online credit unions may stay open. Check your credit union's website or call ahead to confirm their hours. The Federal Reserve closure still affects when transfers process, regardless of whether your credit union branch is open.

If I send a wire transfer on Friday before Presidents Day, will it go through?

Yes. Wire transfers sent on Friday will process on Friday. The Federal Reserve processes wire transfers during business hours, and Friday is a normal business day. The wire will reach the recipient's bank by end of business Friday.