December 24th is not a federal bank holiday, but many banks close early or stay closed anyway
December 24th—Christmas Eve—is not an official federal holiday. The federal government does not recognize it, and the stock market operates on a normal schedule. However, most banks choose to close on this day or close early in the afternoon, treating it as a de facto holiday even though employees are not may have access to to the federal holiday pay that comes with an official designation.
The distinction matters because it affects what services you can access and when. If you need to deposit a check, withdraw cash, or handle a banking transaction on December 24th, you should assume your branch is closed and plan ahead. The day before—December 23rd—is your last reliable window for in-person banking before the Christmas period.
Key Takeaways
- Most banks close on December 24th even though it is not a federal holiday, so plan your banking for December 23rd or earlier.
- ATMs and online banking remain available on December 24th, but you cannot visit a branch or speak to a teller.
- If December 24th falls on a weekend, banks are already closed, and the closure may extend into the following Monday depending on the bank's policy.
- Wire transfers, ACH payments, and other electronic transactions initiated on December 24th may not process until after the holiday period ends.
- Check with your specific bank about their December 24th hours, as some regional banks or credit unions may have different schedules.
Why banks close on December 24th without federal designation
Banks operate under federal banking regulations but are not required to stay open on every non-federal holiday. December 24th falls into a gray zone: the federal government does not mandate closure, but the banking industry has adopted it as a standard closing day. This is a business decision, not a legal requirement.
The reasoning is practical. Most customers are not conducting banking business on Christmas Eve—they are traveling, shopping, or spending time with family. Keeping branches open costs money in staffing and utilities for minimal customer traffic. Banks balance this against customer convenience and employee time off during the holiday season.
This differs from federal holidays like Christmas Day (December 25th), when banks must close by law and the Federal Reserve does not process transactions. On December 24th, the Federal Reserve technically operates, but individual banks choose not to.
What services remain available on December 24th
Even though branches close, you retain access to several banking services. ATMs operate 24/7 at most banks, so you can withdraw cash or check your balance at any time on December 24th. Online banking portals and mobile apps work normally, allowing you to transfer money between your own accounts, pay bills, or check transactions.
Debit cards work at merchants and ATMs. Credit card payments can be made online. However, any transaction that requires human processing—depositing a check at a teller window, opening a new account, obtaining a cashier's check, or speaking to a loan officer—cannot happen on December 24th if your branch is closed.
Electronic transfers initiated on December 24th may not process immediately. ACH transfers and wire transfers typically settle the next business day, which in this case would be after the Christmas holiday. If you need money to move by a specific date, initiate the transfer by December 23rd.
How to confirm your bank's December 24th schedule
Not every bank follows the same schedule. Large national banks like Bank of America, Chase, and Wells Fargo typically close on December 24th, but regional banks, credit unions, and online-only banks may have different policies. Some branches may close early—at noon or 2 p.m.—rather than all day.
The fastest way to confirm is to call your branch directly or check your bank's website. Most banks post holiday hours in early December. Search for "[Your Bank Name] holiday hours" or visit the branch locator tool on your bank's website and select your specific location. Credit unions often have their own schedules, so do not assume your credit union follows the same closure as a national bank.
If you bank with an online-only institution like Ally or Charles Schwab, check their FAQ or customer service page. Many online banks do not have physical branches, so December 24th closure does not affect you in the same way—but wire transfers and ACH processing may still be delayed.
What to do if December 24th falls on a weekend
When December 24th lands on a Saturday or Sunday, your branch is already closed for the weekend. The question then becomes whether the bank extends its closure into Monday, December 26th. This depends on the bank's policy and whether December 25th (Christmas Day) falls on a weekday.
If December 24th is a Saturday and December 25th is a Sunday, most banks reopen on Monday, December 26th. However, if December 25th is a Monday (a federal holiday), many banks remain closed on Monday and reopen on Tuesday. Check your bank's specific holiday schedule for the year in question, as this varies.
Planning ahead for checks and deposits
If you need to deposit a check before the holiday period, do it by December 23rd. Checks deposited on December 24th will not clear until after the holiday, and if December 24th is a Friday, the check may not even be processed until the following Tuesday or Wednesday, depending on your bank's processing schedule.
Mobile check deposit (taking a photo of the check through your bank's app) can be done on December 24th, but the funds will not be available until after the holiday period ends. The same delay applies to ATM check deposits. If you need the money before then, deposit the check earlier in the week.
For time-sensitive payments or transfers, use online bill pay or electronic transfer by December 23rd. This ensures the transaction processes before the holiday shutdown and reduces the risk of late fees or missed deadlines.
How the Federal Reserve's schedule affects you
The Federal Reserve, which processes large interbank transactions, does not officially close on December 24th. However, the volume of transactions is extremely low, and many banks do not send transactions through the Fed on this day because their own branches are closed.
This means wire transfers initiated on December 24th may sit in a queue until December 26th or later, depending on the receiving bank's schedule. International wire transfers are even more likely to be delayed because foreign banks may also be closed or operating on reduced schedules.
If you are sending money that needs to arrive by a specific date, send it by December 23rd. This gives the transaction time to clear before the holiday period and reduces the chance of delays.
Frequently Asked Questions
Can I use my debit card on December 24th if my bank is closed?
Yes. Debit cards work at ATMs and merchants regardless of whether your branch is open. You can withdraw cash, make purchases, and check your balance. The only thing you cannot do is visit a teller or conduct in-person banking.
Will my paycheck deposit on December 24th if my employer uses direct deposit?
Direct deposit typically processes on the scheduled date regardless of whether the bank is open. However, if your employer's payroll system is closed on December 24th, the deposit may be delayed until December 26th or later. Contact your employer's payroll department to confirm the deposit date.
What if I need cash on December 24th and the ATM is broken?
Withdraw cash on December 23rd or earlier. If the ATM is broken on December 24th and you have no other way to get cash, you will need to wait until December 26th when the branch reopens, or find an ATM at another bank or credit union that is still operating.
Do online banks close on December 24th?
Online banks do not have physical branches, so December 24th does not affect access to your account. You can transfer money, pay bills, and check your balance. However, wire transfers and ACH payments initiated on December 24th may not process until after the holiday period.
Is December 24th a holiday for the stock market?
No. The stock market operates on a normal schedule on December 24th. However, trading volume is typically very light, and the market may close early (usually at 1 p.m. Eastern time). Check the New York Stock Exchange website for the specific closing time for the year.