Most banks are closed on Memorial Day, but the timing depends on which day the holiday falls

Memorial Day is a federal holiday, and most banks treat it the same way they treat Thanksgiving or Christmas — they close their physical branches for the day. If Memorial Day falls on a Monday (which it does most years), branches will be closed that Monday. If your bank observes the holiday on a different day because of how their calendar works, they will tell you in advance.

The key thing to know: you can still move money on Memorial Day through ATMs, mobile apps, and online banking. You just cannot walk into a branch or call a teller. Any transactions you make through digital channels will process, but transfers between banks and deposits may not settle until the next business day because the banking system itself is closed.

Some banks operate limited-hour branches or banking centers inside grocery stores and pharmacies, and a few of these may stay open on Memorial Day. Call your specific branch the day before to confirm, because this varies widely by bank and location.

Key Takeaways

  • Federal banks close on Memorial Day, which falls on the last Monday of May, so most branches will be shut that day.
  • ATMs, mobile apps, and online banking work on Memorial Day, but transfers between banks and check deposits will not settle until Tuesday.
  • Some banks operate limited-hour locations inside retail stores that may stay open — call ahead to check your nearest branch.
  • Credit unions follow the same federal holiday schedule as banks, so most will be closed, though a few may have Saturday hours you can use instead.
  • If you need cash before the holiday, withdraw it on Friday or Saturday, because ATM withdrawals on Monday will come from your account when ready but deposits will not post until Tuesday.

What you can and cannot do on Memorial Day

ATM withdrawals work normally on Memorial Day — you can pull cash out at any time, and the money leaves your account right away. Deposits are different. If you deposit a check or transfer money through your phone or computer on Monday, the transaction enters the system, but it will not actually settle until Tuesday morning when the banking network comes back online. This matters if you are counting on that money being available Monday night.

Wire transfers and ACH transfers (the standard way money moves between accounts) also pause on federal holidays. If you send a wire on Monday, it will not leave your bank until Tuesday. If someone is sending you money and they initiate it on Monday, you will not see it until at least Wednesday, because the sending bank processes it Tuesday and your bank receives it Wednesday.

Bill payments scheduled through your bank's bill pay system will go out on schedule if you set them up in advance — the bank queues them and releases them on the next business day. But if you are trying to pay a bill for the first time on Monday, you may not be able to set it up until Tuesday.

Which banks stay open and which close completely

The major national banks — Chase, Bank of America, Wells Fargo, Citibank, and others — close all their branches on Memorial Day. Regional banks do the same. Credit unions follow federal holidays, so most will be closed.

The exception is banks that operate branches inside grocery stores, pharmacies, or Walmart. Some of these locations stay open on federal holidays because the store itself is open. Locations inside Walmart, Kroger, Safeway, and Walgreens sometimes have limited hours on holidays. You have to call the specific location to know for sure — corporate policy does not may provide it.

Online-only banks like Ally, Charles Schwab, and Discover do not have physical branches, so the concept of "closed" does not explore to them. You can use their apps and websites on Memorial Day the same way you can on any other day. Settlement times for transfers still follow the federal holiday schedule, though.

Planning ahead: what to do before Memorial Day

If you need cash on Memorial Day, withdraw it on Friday or Saturday. ATMs will work Monday, but if you wait until Monday to withdraw, you are cutting it close if the ATM malfunctions or runs out of cash.

If you are expecting a check deposit or a transfer from someone else, plan for it to arrive Tuesday or later, not Monday. Tell anyone sending you money that Monday is a holiday and the money will not show up until the next day. This prevents confusion if they are counting on you having the funds Monday afternoon.

If you have bills due on Memorial Day itself, pay them on Friday. If a bill is due Tuesday, you can pay it Monday through online banking and it will process Tuesday morning. But if you are unsure about timing, pay early rather than late — a payment made Monday will not be late if it processes Tuesday, but a payment made Monday might be late if the due date is Monday.

What happens to direct deposits on Memorial Day

If your employer pays you on Memorial Day, the deposit will not hit your account until Tuesday morning. Employers schedule payroll to process on specific days, and if that day is a federal holiday, the banking system does not process it until the next business day. Your employer's payroll system will show the payment as sent, but your bank will not receive it until Tuesday.

This matters if you are living paycheck to paycheck and counting on that money Monday night. Check with your employer's HR department to find out what day they actually process payroll when a holiday falls on a payday. Some employers move payday to Friday if Monday is a holiday; others keep it on Monday but the money arrives Tuesday.

Frequently Asked Questions

Can I use my debit card on Memorial Day?

Yes. Debit card transactions at stores, restaurants, and gas pumps work normally on Memorial Day. The transaction posts to your account right away. ATM withdrawals also work. The only thing that does not work is depositing checks or transferring money between banks.

Will my automatic bill payments go through on Memorial Day?

If you set them up in advance, yes. Your bank queues automatic payments and releases them on the next business day. If a bill is due Monday and you have an automatic payment scheduled, it will process Tuesday morning. Contact your biller if you are worried about a late fee — most know that Monday is a holiday and will not penalize you for a Tuesday payment.

What if I need to deposit a check on Memorial Day?

You can deposit it through your mobile app if your bank offers mobile check deposit. The check will be in the system Monday, but it will not settle and become available until Tuesday. If you need the money Monday night, this will not help you. If you need it Tuesday or later, mobile deposit works fine.

Do credit unions close on Memorial Day?

Most do, because they follow the federal holiday schedule. Some credit unions have Saturday hours, so you could do your banking Saturday instead. Call your credit union to confirm their Memorial Day hours — a few smaller ones may stay open.

What if my bank says it is open on Memorial Day?

Some banks operate limited-hour locations or have different policies for certain branches. If your bank's website says a specific location is open, that location is open. But the main branch and most locations will be closed. Check your bank's website or call the specific branch you plan to visit.