Most banks are closed on Thanksgiving Day, but some branches and services stay open
Thanksgiving is a federal holiday, which means most banks shut their doors for the day. The Federal Reserve, which sets the schedule for the banking system, marks Thanksgiving as a holiday when banks do not conduct regular business. If you need to deposit a check, withdraw cash, or speak to someone in person, your local branch will almost certainly be closed.
The catch is that "closed" does not mean your money is locked away. ATMs run 24/7 at most banks, so you can withdraw cash or check your balance any time. Online banking works the same way it always does. The closure affects only in-person services and the processing of certain transactions that require staff.
Some banks do open on the day after Thanksgiving (the Friday), though hours may be shorter than usual. A few large banks operate limited weekend hours at select locations, but these are exceptions, not the rule. Your best move is to check your specific bank's website or call ahead—holiday hours vary by branch and by institution.
Key Takeaways
- Federal law requires banks to close on Thanksgiving Day, so in-person services are not available at any traditional bank branch.
- ATMs and online banking continue to work on Thanksgiving, so you can access your money without visiting a branch.
- Checks deposited on Thanksgiving through a mobile app or ATM may not post until the following business day.
- The Friday after Thanksgiving (the day after the holiday) is a regular business day, and most banks return to normal hours.
- Credit unions and online-only banks follow the same federal holiday schedule as traditional banks.
What you can and cannot do on Thanksgiving
On Thanksgiving itself, you can use an ATM to withdraw cash, transfer money between your own accounts, and check your balance. You can also log into online banking to pay bills, set up transfers, or review transactions. Wire transfers and ACH transfers initiated through online banking will be queued and processed the next business day.
You cannot walk into a branch to deposit cash or checks in person, speak to a teller, open a new account, or get a cashier's check. If you need to deposit a physical check, you can use mobile deposit (the app that lets you photograph the check) or an ATM deposit slot if your bank offers one. That deposit will be processed on the next business day.
If you are expecting a direct deposit on Thanksgiving—such as a paycheck or government payment—it will arrive on schedule. Direct deposits are processed automatically by the Federal Reserve's systems and do not require bank staff to be present. The money lands in your account whether the branch is open or not.
ATM deposits and mobile check deposits on the holiday
Most banks accept check deposits through ATMs and mobile apps on Thanksgiving, but the timing matters. A check you deposit on Thanksgiving through an ATM or your phone will not be processed until the next business day (Friday). The bank's system records the deposit, but the actual clearing and posting to your account happens after the holiday.
Mobile deposit is often faster than ATM deposit because the bank can process it more quickly once staff return. If you need the money urgently, depositing on Wednesday (the day before) is safer than waiting until Thursday. Some banks hold mobile deposits for one business day anyway, so timing may not change the outcome.
Cash deposits through ATMs work the same way: the machine accepts the cash on Thanksgiving, but the bank counts and credits it on Friday. Your account will show a pending deposit, but the funds may not be available until later that day or the next morning.
Wire transfers and ACH payments on Thanksgiving
If you initiate a wire transfer or ACH payment on Thanksgiving through online banking, the request will sit in a queue until Friday morning. The Federal Reserve does not process these transactions on federal holidays, so there is no way to send money out on Thanksgiving itself. If you need to move money urgently, do it on Wednesday.
Incoming wire transfers and ACH deposits follow the same rule: they will not arrive on Thanksgiving, even if someone sends them on that day. If a payment is supposed to hit your account on Thanksgiving, it will arrive on Friday instead. This matters most for payroll and bill payments that are timed to specific dates.
Some banks advertise "same-day ACH" or "faster payments" services, but these do not operate on federal holidays. Thanksgiving is one of the few days when the entire banking system shuts down, regardless of how fast a service normally is.
Credit unions and online banks on Thanksgiving
Credit unions follow the same federal holiday schedule as banks. Your local credit union branch will be closed on Thanksgiving, and ATM and online services will work normally. If your credit union is part of a shared branching network, you might be able to visit a different credit union's branch on Friday, but not on Thursday.
Online-only banks (like Ally, Charles Schwab, or Discover) do not have physical branches, so there is no "closed branch" to worry about. You can still use their apps and websites on Thanksgiving. Customer service phone lines may be closed, but your account and ATM access remain available. If you bank entirely online, Thanksgiving has almost no impact on your ability to manage money.
Planning ahead for Thanksgiving banking
If you know you will need cash on Thanksgiving, withdraw it on Wednesday. If you need to deposit a check before the holiday, do it on Wednesday or use mobile deposit on Wednesday evening. If you are expecting a paycheck or bill payment on Thanksgiving, assume it will arrive on Friday instead and plan your budget accordingly.
If you have a time-sensitive transaction—paying a bill by a certain date, for example—do it before Wednesday. The banking system does not process transactions on Thanksgiving, so anything you do on Thursday will not move until Friday at the earliest. This can push a Friday important date into the following week.
For routine transactions like checking your balance or reviewing past activity, Thanksgiving makes no difference. Online banking and ATMs work around the clock. The holiday only affects transactions that require the bank's staff or the Federal Reserve's processing systems to be active.
Frequently Asked Questions
Can I use my debit card on Thanksgiving if the bank is closed?
Yes. Your debit card works at any merchant, ATM, or online store on Thanksgiving, whether your bank branch is open or not. The bank's closure only affects in-person services at the branch itself. Debit card transactions are processed by payment networks that run 24/7.
What if I need to dispute a transaction on Thanksgiving?
You can report a fraudulent or incorrect transaction through online banking or by calling your bank's fraud line, which often operates on holidays. However, the actual investigation and resolution will not begin until Friday. If the issue is urgent, call the fraud line on Thanksgiving to document the problem and get a case number.
Will my paycheck arrive on time if Thanksgiving falls on payday?
Direct deposits are processed by the Federal Reserve's automated systems and arrive on schedule, even on holidays. If your employer's payroll system is set to deposit on Thanksgiving, the money will land in your account on Thanksgiving. However, if your employer processes payroll on Thanksgiving and the bank is closed, the deposit may be delayed to Friday.
Can I open a new bank account on Thanksgiving?
No. Opening an account requires staff to verify your identity, set up your account number, and issue a debit card. All of this happens in person or through a process that requires bank staff. You will need to wait until Friday to open an account.
Do savings accounts earn interest on Thanksgiving?
Yes. Interest accrues every day, including holidays. Your savings account balance grows on Thanksgiving the same way it does on any other day. The bank's closure does not pause interest calculations.