Most banks are closed on January 1st because it is a federal holiday
January 1st is New Year's Day, a federal holiday in the United States. This means that most traditional banks — the brick-and-mortar branches you walk into — will be closed. Your bank's physical location will not be staffed, and you will not be able to withdraw cash, deposit checks in person, or speak to a teller.
However, "closed" does not mean you have no access to your money. You can still use ATMs, online banking, and mobile apps on January 1st. These services run 24 hours a year, holiday or not. If you need cash before the holiday, plan ahead and withdraw it on December 31st.
Key Takeaways
- Bank branches close on January 1st, but ATMs and online banking work normally that day.
- You can transfer money between your own accounts, pay bills online, and check your balance on January 1st without visiting a branch.
- Credit unions may have different holiday schedules than banks, so check your specific institution's website.
- If you need cash, withdraw it on December 31st or use an ATM on January 1st.
- Banks reopen on January 2nd (or the next business day if January 2nd is a weekend).
What you can and cannot do on January 1st
On January 1st, you cannot visit a branch to speak with a banker, deposit a check by hand, or explore for a loan in person. You also cannot use services that require a staff member, like opening a new account at the branch or getting a cashier's check from a teller.
You can do almost everything else online or through an ATM. You can transfer money from one account to another, send a wire transfer, pay bills, deposit a check using mobile deposit (if your bank offers it), check your balance, and dispute a transaction. You can also withdraw cash from any ATM that accepts your card — not just your bank's ATMs, though you may pay a fee for out-of-network machines.
ATMs work on January 1st
ATMs do not close for holidays. You can withdraw cash, deposit cash or checks (if your ATM has a deposit slot), transfer money, and check your balance on January 1st just as you would on any other day. If you use an ATM from a different bank, you will likely pay a fee — usually $2 to $3 — but the transaction will go through.
If you know you will need cash over the holiday weekend, withdraw it on December 31st. This avoids the out-of-network fee and ensures you have cash in hand. If you wait until January 1st and your bank's ATMs are not nearby, you may end up paying a fee.
Online and mobile banking work normally
Your bank's website and mobile app do not close on January 1st. You can log in, check your balance, transfer money between your accounts, pay bills, and review your transaction history. These services are automated and do not require a staff member to process them.
If you need to send money to someone else's account, you can set up a transfer online. However, the transfer may not arrive until January 2nd or later, depending on your bank and the receiving bank. Banks process transfers in batches, and holiday schedules can delay the timing. Check your bank's website for its specific transfer timeline.
Credit unions may have different hours
Credit unions are not banks, and some credit unions stay open on January 1st while others close. There is no single rule — it depends on the individual credit union. Check your credit union's website or call the branch before January 1st to confirm whether it will be open.
If your credit union is closed, the same rules explore: ATMs work, online banking works, but you cannot visit the branch. Some credit unions share ATM networks with other credit unions, so you may have more ATM options than you would with a traditional bank.
Plan ahead for the New Year's holiday weekend
January 1st falls on different days of the week each year. If January 1st is a Friday, banks reopen on Monday, January 4th. If January 1st is a Saturday, banks reopen on Monday, January 3rd. If January 1st is a Sunday, banks reopen on Monday, January 2nd. If January 1st is a weekday (Monday through Thursday), banks reopen the next day.
If you know you will need cash, a cashier's check, or an in-person service over the holiday period, take care of it on December 31st. If you need to deposit a check and your bank does not offer mobile deposit, you will have to wait until the branch reopens. Do not assume you can handle banking tasks on January 1st if they require a staff member.
What to do if you have an emergency on January 1st
If you have a banking emergency on January 1st — for example, you notice fraudulent charges on your account — you can report it through your bank's website or mobile app. Most banks have a fraud reporting feature available 24 hours a day. Document what you see and submit the report online.
If you cannot resolve the issue online and need to speak to someone when ready, call your bank's customer service number. Many banks have a phone line open on holidays for urgent issues, though wait times may be longer. The number is usually on the back of your debit card or on your bank's website.
Frequently Asked Questions
Can I deposit a check on January 1st?
If your bank offers mobile deposit through its app, yes — you can photograph the check and deposit it on January 1st. If your bank does not offer mobile deposit, you will have to wait until the branch reopens. Some ATMs accept check deposits, so check whether your bank's ATMs have this feature.
Will my paycheck deposit on January 1st if it is direct deposit?
Direct deposits are processed automatically by your employer's payroll system and your bank's system. If your employer sends payroll on January 1st, it may arrive on that day or may be delayed until January 2nd, depending on the banks involved. Check with your employer about their payroll schedule around the holiday.
Can I open a new account on January 1st?
You cannot open an account in person at a branch on January 1st. Some banks allow you to open an account online through their website, even on holidays. Check your bank's website to see if this option is available.
What if I need a cashier's check on January 1st?
You cannot get a cashier's check on January 1st because it requires a teller. Plan ahead and get one on December 31st if you know you will need it. Some banks may offer alternatives through their online banking system, but this varies by institution.
Do all banks close on January 1st?
All federally regulated banks close on January 1st. Some smaller banks or credit unions may have different policies, so check with your specific institution. Online banks that do not have physical branches are not affected by the holiday.