The next bank holiday depends on today's date, but the federal calendar is fixed

If today is before Presidents' Day in February, that is your next bank holiday. If today is after Presidents' Day but before Memorial Day in May, then Memorial Day is next. The federal banking calendar runs the same every year: ten holidays when banks close and the Federal Reserve does not process transfers. Knowing which one is coming matters because money you send or receive on a bank holiday will not move until the next business day.

The 2024 and 2025 federal bank holidays are set by law and do not change. They fall on the same dates every year, with the exception of holidays that move to observe a weekend closure. If a holiday lands on a Saturday, banks observe it on Friday. If it lands on a Sunday, banks observe it on Monday.

Key Takeaways

  • The ten federal bank holidays occur on fixed dates each year: New Year's Day, MLK Jr. Day, Presidents' Day, Memorial Day, Juneteenth, Independence Day, Labor Day, Columbus Day, Veterans Day, and Thanksgiving plus the day after.
  • Money transfers initiated on a bank holiday will not process until the next business day, so plan accordingly if you are waiting for a refund or payment.
  • Banks close on these days, but ATMs and online banking remain available; only wire transfers and ACH transfers are delayed.
  • State and local holidays are separate from federal bank holidays, so your bank may close on days not on the federal list depending on where you live.

The complete federal bank holiday calendar

The Federal Reserve recognizes ten holidays when member banks close. New Year's Day falls on January 1. Martin Luther King Jr. Day is the third Monday in January. Presidents' Day is the third Monday in February. Memorial Day is the last Monday in May. Juneteenth National Independence Day is June 19. Independence Day is July 4. Labor Day is the first Monday in September. Columbus Day is the second Monday in October. Veterans Day is November 11. Thanksgiving is the fourth Thursday in November, and the day after Thanksgiving is also a bank holiday.

When a holiday falls on a Saturday, most banks observe it on the Friday before. When a holiday falls on a Sunday, most banks observe it on the Monday after. This means the actual closure date can shift by one day depending on the day of the week. For example, if Independence Day (July 4) falls on a Saturday, banks will close on Friday, July 3 instead.

How bank holidays affect money moving to your account

If you send a wire transfer or ACH transfer on a bank holiday, the money will not leave your account until the next business day. The same applies to money coming in: a refund or payment initiated on a bank holiday will not arrive in your account until the next business day. This matters most when you are waiting for a tax refund, insurance refund, or government payment and the processing date falls on or near a holiday.

ATMs and online banking work normally on bank holidays. You can check your balance, transfer money between your own accounts, and pay bills online. Only transfers to other banks or from other banks are delayed. If your refund was supposed to arrive on a Friday that is also a bank holiday, expect it Monday instead.

State and local holidays are different from federal bank holidays

Some states and cities observe additional holidays when banks close. For example, some banks in Texas close on Confederate Memorial Day. Banks in Hawaii close on Kamehameha Day. Banks in Alaska close on Alaska Day. These closures are separate from the federal calendar and depend on where your bank is located, not where you live.

If your bank is headquartered in a state that observes a state holiday, your transfers may be delayed on that day even though it is not a federal bank holiday. Check your bank's holiday calendar on their website or call their customer service line to see which days they close beyond the federal ten.

What to do if a refund is delayed by a bank holiday

If you are tracking a refund and a bank holiday falls on or near the expected arrival date, add one business day to your timeline. If the IRS says your tax refund will arrive by Friday and Friday is a bank holiday, it will arrive Monday instead. The same applies to insurance refunds, business refunds, and government payments like stimulus checks.

Check the status of your refund before the holiday arrives. Most tax refunds can be tracked through the IRS website using your Social Security number and filing status. Insurance refunds can usually be tracked through your insurer's online portal or by calling their claims department. If the refund shows as processed but has not arrived by the day after the holiday, contact the issuing organization to confirm the money was actually sent.

How to plan around bank holidays when waiting for money

If you are expecting a refund or payment and a bank holiday is coming, do not assume the money will arrive on the stated date if that date is a holiday or the day before. Build in an extra day. If you need the money by a specific date, factor in the holiday when you calculate how much time you have.

For tax refunds, the IRS publishes expected delivery dates that account for bank holidays. For insurance refunds, the insurance company's timeline should also account for holidays. For business refunds, the business may or may not account for holidays in their stated timeline, so ask before you assume. Government payments like stimulus checks and unemployment benefits are usually processed to arrive on a specific day, and that day is chosen to avoid holidays, but delays can still happen.

Frequently Asked Questions

Can I use my debit card or ATM on a bank holiday?

Yes. ATMs work 24/7 on bank holidays, and you can use your debit card to make purchases. Only transfers between banks are delayed. You can also log into your bank's website or app and move money between your own accounts.

If a refund is supposed to arrive on a Saturday, when will it actually come?

It depends on whether that Saturday is also a bank holiday. If it is a regular Saturday, the refund will arrive on Monday. If the Saturday is a bank holiday (which is rare), banks will have observed it on Friday, so the refund would arrive Monday. Check your bank's holiday calendar to be sure.

Do credit unions close on bank holidays?

Most credit unions close on the same ten federal bank holidays as banks. Some credit unions may also close on additional state or local holidays. Check your credit union's website or call to confirm their holiday schedule.

Will my direct deposit be delayed if the payday falls on a bank holiday?

Usually no. Employers typically time payroll deposits to arrive on payday even if payday falls on a bank holiday. The deposit is processed the day before so it arrives on time. If you are unsure, ask your payroll department.

How far in advance should I plan for a bank holiday affecting my refund?

Check the refund status one week before the expected arrival date. If a bank holiday falls within three business days of that date, assume the refund will be delayed by one day. Contact the issuing organization if the refund does not arrive within one business day after the holiday.