Most banks are closed on Martin Luther King Jr. Day

Martin Luther King Jr. Day is a federal holiday observed on the third Monday in January. Most major banks — including Bank of America, Chase, Wells Fargo, Citibank, and US Bank — close their physical branches on this day. ATMs and online banking remain available.

Some credit unions and smaller regional banks may stay open, so if you need in-person services, contact your specific bank directly rather than assuming it is closed. The holiday is observed nationwide, so timing does not vary by state or region.

Key Takeaways

  • Federal banks close their branches on Martin Luther King Jr. Day, which falls on the third Monday of January each year.
  • ATMs work normally on the holiday, and you can access your account online or through mobile apps.
  • Wire transfers, ACH transfers, and other electronic transactions may process more slowly because the banking system itself is not fully operational.
  • Credit unions and community banks sometimes stay open, so check with your institution before assuming it is closed.
  • If you need cash or in-person services, plan ahead by withdrawing money the business day before.

What you can and cannot do on Martin Luther King Jr. Day

ATMs and debit cards work normally. You can withdraw cash, check your balance, and deposit checks at ATM machines that accept mobile deposits. Online banking portals and mobile apps are fully operational, so you can transfer money between your own accounts, pay bills, and view transactions.

What does not happen on the holiday: tellers cannot process deposits or withdrawals in person, loan officers cannot approve new applications, and bank staff cannot answer phones at the main branch line. Wire transfers and ACH transfers you initiate on the holiday will not process until the next business day. If you send a wire transfer on Monday, it typically clears on Tuesday.

When banks reopen after the holiday

Banks reopen on Tuesday, the day after Martin Luther King Jr. Day. Any transactions you initiated on the holiday — wire transfers, bill payments, check deposits through mobile apps — will process on Tuesday morning. Checks deposited through ATMs on Monday will be processed as if deposited on Tuesday.

If the holiday falls on a Monday and you need funds to clear by a specific date, initiate the transfer on Friday instead. This gives the bank two business days to process it before the holiday weekend.

How the holiday affects payment timing

The federal banking system does not operate on Martin Luther King Jr. Day, which means the Federal Reserve does not process large interbank transfers. This affects wire transfers, ACH payments, and checks that move between banks. If you send a wire on Monday, it sits in a queue until Tuesday morning when the system reopens.

Bill payments you schedule through your bank's bill pay system on Monday will process on Tuesday, not when ready. If a bill is due on Tuesday, do not wait until Monday to pay it — the payment will arrive late. Schedule it for Friday or earlier in the week.

Planning ahead for the holiday

If you know you will need cash on or around Martin Luther King Jr. Day, withdraw it on Friday. If you need to make a large transfer or pay a time-sensitive bill, process it before the holiday. Most banks send reminders about holiday closures on their websites and through email in early January.

Check your specific bank's website for its holiday schedule. Some banks list all federal holidays and their branch hours for each one. If your bank is a credit union or regional institution, call ahead to confirm whether it closes on this day.

What happens if you need emergency banking services

If you have a fraud issue, lost card, or other urgent problem on Martin Luther King Jr. Day, call your bank's customer service line. Most major banks operate 24/7 customer service even when branches are closed. They can freeze accounts, dispute transactions, and issue emergency card replacements.

For true emergencies — a compromised account or stolen card — do not wait until Tuesday. The phone line is staffed even though branches are not.

Frequently Asked Questions

Can I deposit a check on Martin Luther King Jr. Day?

Yes, if your bank has mobile check deposit through its app. You can photograph the check and deposit it on Monday. The bank will process it on Tuesday. If you need to deposit a physical check at an ATM, some ATMs accept deposits, but the processing timeline is the same — Tuesday.

Will my direct deposit come through on Martin Luther King Jr. Day?

No. Employers typically process payroll on Friday for Monday deposit, but the federal banking system does not operate on the holiday. Your direct deposit will arrive on Tuesday instead. If your pay date falls on Monday, contact your employer's payroll department to confirm the actual deposit date.

Do credit unions close on Martin Luther King Jr. Day?

Most do, but not all. Credit unions are not required to follow federal holiday schedules the way banks are. Call your credit union directly to ask about its hours on Martin Luther King Jr. Day. Some stay open with reduced hours.

What if I need to wire money on the holiday?

You can initiate the wire through your bank's online system on Monday, but it will not process until Tuesday morning. If the money needs to arrive by a specific date, send it on Friday instead. Same-day wire transfers do not happen on federal holidays.

Are online banks closed on Martin Luther King Jr. Day?

No. Online-only banks like Ally, Charles Schwab, and Discover have no physical branches, so they do not close. You can transfer money, pay bills, and manage your account normally. Processing times for transfers to other banks still follow the federal banking schedule — transactions initiated on Monday process on Tuesday.