Most banks are closed on Martin Luther King Jr. Day

Martin Luther King Jr. Day falls on the third Monday of January each year. On this federal holiday, most traditional banks — including Bank of America, Chase, Wells Fargo, and Citibank — close their physical branches. The Federal Reserve does not process payments that day, which means wire transfers, ACH transfers, and check clearing all pause.

Online banking platforms stay open. You can log in, check balances, and set up transfers on MLK Day itself. Those transfers won't actually move money until the next business day, when the Federal Reserve resumes processing. ATMs and mobile apps work normally throughout the holiday.

Credit unions follow the same pattern as banks — most close their branches on MLK Day, though some smaller credit unions may have different holiday schedules. Call your specific branch the day before if you need to confirm.

Key Takeaways

  • Bank branches close on Martin Luther King Jr. Day, but ATMs, online banking, and mobile apps remain available.
  • The Federal Reserve does not process wire transfers, ACH transfers, or check clearing on MLK Day, so any transfers you set up will complete the next business day.
  • If you need cash or in-person service, plan ahead by visiting your bank on the Friday before the holiday.
  • Credit unions typically close on MLK Day as well, though some regional or smaller institutions may operate on different schedules.

What you can and cannot do on MLK Day

You can deposit checks through mobile deposit, transfer money between your own accounts, pay bills online, and withdraw cash from ATMs. You can also call your bank's customer service line — most maintain phone support on federal holidays, though wait times are often longer.

You cannot visit a branch to speak with a teller, open a new account in person, or get a cashier's check. Wire transfers and ACH transfers initiated on MLK Day will not leave your account until Tuesday (or the next business day if MLK Day falls on a Monday). Checks deposited on the holiday will not clear until the following day at the earliest.

When transfers actually move if you initiate them on MLK Day

The timing depends on the type of transfer. An ACH transfer you set up on MLK Day will process on Tuesday — the next day the Federal Reserve operates. Wire transfers work the same way: initiated Monday, sent Tuesday. If you need money to move faster, initiate the transfer on Friday before the holiday instead.

Checks deposited through mobile deposit on MLK Day will enter the clearing system on Tuesday. The receiving bank will then have one to two business days to clear it, depending on the amount and the banks involved. Large checks sometimes take longer.

Planning around MLK Day closures

If you need cash, withdraw it on Friday. If you need to make a payment that depends on a transfer clearing, initiate it by Friday afternoon. If you're expecting a direct deposit (paycheck, tax refund, government benefit) that normally arrives on Monday, check with your employer or the sending agency about whether they process on federal holidays — many do, and the money will land in your account even though the bank branch is closed.

For time-sensitive transactions, use your bank's online platform or mobile app on Friday instead of waiting until Monday. Most banks process online transactions submitted before their cutoff time (usually 5 or 6 p.m.) the same business day.

Which banks and credit unions are definitely closed

All major national banks close on MLK Day: Bank of America, Chase, Wells Fargo, Citibank, US Bank, PNC, and TD Bank. Regional banks like KeyBank, Regions, and Huntington also close. Most credit unions close as well, including Navy Federal, Alliant, and Pentagon Federal.

Some online-only banks (like Ally, Charles Schwab Bank, or Discover Bank) do not have physical branches, so the closure does not affect you in the same way — you can still access your account and initiate transfers. The Federal Reserve closure still applies, so transfers won't process until Tuesday.

What happens if you need emergency access to money

ATMs work on MLK Day. If you need cash, use your debit card at any ATM in your bank's network or at a convenience store. Most ATMs dispense up to $500 or $1,000 per transaction, depending on your account limits.

If you need to speak to someone at your bank, call the customer service number on the back of your debit card. Wait times are typically longer on holidays, but representatives are available. They cannot process branch transactions like opening accounts or issuing cashier's checks, but they can answer questions about your account and help with fraud or account access issues.

Frequently Asked Questions

Will my direct deposit hit my account on MLK Day?

It depends on when your employer or benefit provider sends it. Many employers process payroll on schedule regardless of federal holidays, so the deposit may land in your account on Monday. Contact your employer or the agency sending the payment to confirm their holiday schedule.

Can I use my debit card on MLK Day?

Yes. Debit cards work normally on MLK Day. You can make purchases, withdraw cash from ATMs, and use online banking. The bank branch is closed, but the payment systems are open.

If I deposit a check on Friday, will it clear before MLK Day?

Possibly, but not may provide. Checks deposited on Friday usually clear by Monday or Tuesday, depending on the amount and the banks involved. Large checks sometimes take longer. If you need the money to be available by Monday, ask the sender for a wire transfer or ACH payment instead.

What if I need a cashier's check on MLK Day?

You cannot get one on the holiday itself. Plan ahead and request it on Friday. If it is truly urgent, some banks can issue a cashier's check over the phone and mail it to you, though this takes several days. Ask your bank what options they offer for emergency situations.

Do online banks close on MLK Day?

Online banks do not have physical branches, so there is no closure to worry about. You can access your account and initiate transfers on MLK Day. However, the Federal Reserve closure still applies — transfers will not process until Tuesday.