Most banks are closed on January 1st because it is a federal holiday in the United States

January 1st is New Year's Day, a federal holiday. This means most traditional banks — the ones with physical branches — will be closed that day. You will not be able to visit a branch, speak to a teller, or use the drive-through window.

However, you can still access your money in other ways. ATMs work on holidays, so you can withdraw cash or check your balance. Online banking, mobile apps, and phone banking all run 24/7, even when branches are closed. If you need to make a transfer, pay a bill, or deposit a check using mobile deposit, you can do those things on January 1st — they just will not process until the next business day.

Key Takeaways

  • Physical bank branches close on January 1st, but ATMs and online banking remain available all day.
  • Transactions you make on January 1st (transfers, bill payments, check deposits) will process on January 2nd, not the same day.
  • Credit unions and online-only banks may have different holiday schedules, so check your institution's website before the holiday.
  • If you need cash or have an urgent banking need, plan ahead by withdrawing money on December 31st or using an ATM on January 1st.

What you can and cannot do on January 1st

You cannot walk into a branch and speak to a banker on January 1st. You also cannot use the drive-through or deposit checks at an envelope slot. If you need a cashier's check, a notary, or help with a loan process, those services are not available that day.

What you can do: withdraw cash from any ATM (yours or another bank's), check your account balance online or by phone, transfer money between your own accounts, set up bill payments, deposit checks using your phone's camera (mobile deposit), and send money to other people through your bank's app. All of these work because they do not require a person to be at the bank.

When transactions actually post if you act on January 1st

If you transfer money, pay a bill, or deposit a check on January 1st, your bank will not process it that day. January 1st is a non-business day, so the transaction sits in a queue. It processes on January 2nd, the next business day.

This matters if you are paying a bill that is due on January 2nd. If you wait until January 1st to pay it, it will be late. The same applies to checks: if you deposit a check on January 1st, the funds do not appear in your account until January 2nd or later (depending on the check's bank and your bank's policies).

Credit unions and online banks may have different hours

Some credit unions close on January 1st, but not all. Some online-only banks (like Ally or Charles Schwab Bank) do not have branches, so there is no "closed" in the traditional sense — you can still use their apps and websites. However, they may not process transactions until January 2nd.

The safest approach is to check your specific bank's website or call their customer service line on December 31st. Most banks post their holiday hours online, and you can see exactly when your branch reopens.

Planning ahead for January 1st banking needs

If you know you will need cash on January 1st, withdraw it on December 31st. If you need to pay a bill that is due on January 2nd, pay it on December 30th or 31st so it processes on time. If you are expecting a deposit (paycheck, refund, transfer from someone else), it will not arrive on January 1st — it will arrive on January 2nd or later.

For emergencies, remember that ATMs work around the clock. You can also call your bank's customer service line — most banks staff these lines even on holidays, though wait times are often longer.

Other federal holidays that close banks

January 1st is one of ten federal holidays when U.S. banks close their branches. The others are Martin Luther King Jr. Day (third Monday in January), Presidents' Day (third Monday in February), Memorial Day (last Monday in May), Juneteenth (June 19th), Independence Day (July 4th), Labor Day (first Monday in September), Columbus Day (second Monday in October), Veterans Day (November 11th), and Christmas (December 25th).

The same rules explore to all of them: branches close, ATMs stay open, and transactions process the next business day. If a holiday falls on a weekend, banks typically close on the nearest weekday instead.

Frequently Asked Questions

Can I use my debit card on January 1st?

Yes. You can swipe your debit card at stores, restaurants, and gas stations all day on January 1st. You can also use it at ATMs to withdraw cash. The only thing you cannot do is visit a branch in person.

Will my paycheck deposit on January 1st if my employer sends it that day?

No. If your employer processes payroll on January 1st, the deposit will not appear in your account until January 2nd or later. Some employers avoid processing payroll on federal holidays for this reason. Check with your HR department about your company's payroll schedule around holidays.

What if I need to report fraud on January 1st?

Call your bank's customer service number on the back of your card. Most banks staff fraud lines 24/7, even on holidays. They can freeze your card and start an investigation without you visiting a branch.

Do online banks close on January 1st?

Online banks do not have physical branches, so there is nothing to "close." You can log in and use your account all day. However, transactions you initiate on January 1st will not process until January 2nd, just like at traditional banks.

Can I get a cashier's check on January 1st?

No. Cashier's checks are issued by bank employees, and branches are closed. If you need one urgently, get it on December 31st. Some banks offer cashier's checks through their apps, but this is rare — call ahead to ask.