Most banks are closed on Martin Luther King Jr. Day

Martin Luther King Jr. Day falls on the third Monday in January each year. On this day, most banks in the United States are closed because it is a federal holiday. This means branch locations will not be open for in-person visits, and you will not be able to withdraw cash, deposit checks, or speak with a teller.

However, you can still access your money through ATMs and online banking. ATMs work 24 hours a day, even when branches are closed, so you can withdraw cash or check your balance. Online banking platforms, mobile apps, and phone banking also remain available. If you need to make a transfer or pay a bill, you can do these things from home on the holiday itself.

Key Takeaways

  • Bank branches close on Martin Luther King Jr. Day, which occurs on the third Monday in January.
  • ATMs and online banking stay open all day, so you can withdraw money and check your account without visiting a branch.
  • Checks deposited through mobile apps or ATMs on the holiday will typically be processed the next business day.
  • If you need cash or services before the holiday, plan ahead because the branch will be closed.

What you can and cannot do on the holiday

On Martin Luther King Jr. Day, you cannot visit a bank branch to speak with a banker, deposit a check in person, or access a safe deposit box. You also cannot get a cashier's check or open a new account at a branch. Wire transfers initiated through a teller will not go through until the next business day.

What you can do: withdraw cash from any ATM, transfer money between your own accounts through your bank's app or website, pay bills online, deposit checks through your mobile app or ATM (if your bank offers these services), and check your account balance. Some banks allow you to start a wire transfer online, though it will process after the holiday ends.

When deposits and transfers actually post

If you deposit a check through a mobile app or ATM on Martin Luther King Jr. Day, the bank will not process it until the next business day, which is Tuesday. This means the funds will not be available in your account until then, even though you made the deposit on Monday.

The same rule applies to transfers between accounts or to other people's accounts initiated online during the holiday. The transaction will sit in a queue and process once the bank reopens. If you need money to clear by a specific date, deposit or transfer it before the holiday begins.

Planning ahead for the long weekend

If you know you will need cash over the Martin Luther King Jr. Day weekend, withdraw it on Friday or the business day before the holiday. This way you will not be caught without money if you need it for weekend activities or unexpected expenses.

If you have bills due on or shortly after the holiday, pay them online before Monday arrives. This prevents late fees and gives you time to confirm the payment went through. If you are expecting a check to arrive, remember that it will not be deposited and processed until after the holiday, so plan your budget accordingly.

Credit unions and smaller banks may have different hours

While most large national banks close on Martin Luther King Jr. Day, some credit unions and smaller regional banks may stay open or have limited hours. Call your specific bank or credit union before the holiday to confirm whether your branch will be open. You can find the phone number on your debit card or on the bank's website.

Even if a branch is open, it may have reduced hours or fewer staff members available. It is worth calling ahead rather than making a trip only to find limited services. Some banks post holiday hours on their website or in their mobile app several weeks in advance.

What happens to automatic payments and direct deposits

Automatic bill payments and direct deposits scheduled for Martin Luther King Jr. Day will process normally. Your employer's payroll system does not stop for federal holidays, so your paycheck will deposit into your account as scheduled. Similarly, automatic payments you have set up will go through on their regular schedule.

The only exception is if a payment is scheduled to come out of your account on the holiday and your bank processes it a day late. This is rare with modern banking systems, but if you are concerned about timing, check with your bank. Most automatic transactions now process on schedule regardless of holidays.

Frequently Asked Questions

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

Yes. Debit cards work at stores, restaurants, and online merchants on the holiday. You can also use your card at ATMs to withdraw cash. The holiday only affects bank branches, not the broader payment system.

Will my paycheck deposit late if it is scheduled for the holiday?

No. Direct deposits process on schedule even on federal holidays. Your paycheck will appear in your account on the regular payday, whether that falls on the holiday or not.

What if I need to speak with someone at my bank on the holiday?

Call your bank's customer service line. Many banks have phone support available on holidays, though wait times may be longer. You can also use online chat or messaging through your mobile app if your bank offers it.

Can I deposit a check at an ATM on the holiday?

Yes, if your bank offers mobile check deposit or ATM deposit. The check will be processed the next business day, so the funds will not be available until Tuesday.

Do online transfers go through on Martin Luther King Jr. Day?

Transfers between your own accounts at the same bank usually process when ready or within hours. Transfers to other banks may take longer and will process the next business day if initiated on the holiday.