Most banks close on Martin Luther King Jr. Day
Yes, most banks in the United States close on Martin Luther King Jr. Day, observed on the third Monday in January. This is a federal holiday, and the Federal Reserve, which sets the standard for the banking system, does not operate on this day. That means you cannot visit a branch, use most ATMs at bank locations, or expect customer service lines to answer.
However, not every bank follows the same schedule. Some online banks and credit unions stay open or offer limited services. A few regional banks may operate on a modified schedule. The safest approach is to check with your specific bank before the holiday — call the branch directly, check their website, or look at their holiday schedule in the app.
If you need cash or to make a deposit before the holiday, plan ahead. ATMs that are not located inside a bank building (at grocery stores, gas stations, or other retailers) usually stay open, even when bank branches close.
Key Takeaways
- Federal banks and most major national banks close completely on Martin Luther King Jr. Day, the third Monday in January.
- Online banks and some credit unions may process transactions normally or offer limited services, so check your institution's holiday schedule.
- Standalone ATMs at retailers and gas stations typically remain open even when bank branches are closed.
- Wire transfers, bill payments, and other services may be delayed if you initiate them on the holiday or the day before.
Which banks actually close on this holiday
All national banks chartered by the federal government must close on Martin Luther King Jr. Day. This includes the largest institutions: Bank of America, Chase, Wells Fargo, Citibank, and US Bank. State-chartered banks that are members of the Federal Reserve system also close. If your bank is regulated by the Federal Deposit Insurance Corporation (FDIC) and observes federal holidays, it will be closed.
Credit unions vary. Some follow the federal holiday calendar exactly, while others stay open or offer limited hours. The National Credit Union Administration (NCUA) does not operate on the holiday, but individual credit unions set their own policies. Call your credit union's main line or check their website to confirm.
Online-only banks like Ally, Charles Schwab Bank, and others do not have physical branches, so the concept of "closing" does not apply the same way. You can still log in and view your account, but transactions that require human processing (like wire transfers or check deposits) may not be processed until the next business day.
What services stay available or get delayed
ATMs that are not inside a bank building almost always stay open. If your bank's ATM is in a grocery store, gas station, or standalone kiosk, you can withdraw cash and check your balance on Martin Luther King Jr. Day. ATMs inside bank branches typically shut down when the branch closes.
Online banking portals and mobile apps stay accessible — you can log in, view balances, and set up transactions. However, transactions that need to be processed by a person (wire transfers, cashier's checks, loan applications) will not be completed until the next business day. Automatic bill payments and direct deposits scheduled for the holiday usually go through on time because they are processed by computer systems that run continuously.
If you need to deposit a check, mobile check deposit through your bank's app usually works on the holiday. The check will be processed when the bank reopens on the next business day.
When to plan ahead for banking needs
If you need cash, withdraw it before the holiday closes. Most ATMs have daily withdrawal limits, so plan how much you will need. If you need a cashier's check, certified check, or other service that requires a teller, visit your branch on the business day before the holiday.
Wire transfers initiated on the holiday or the day before may not arrive until after the holiday. If you are sending money to another bank or country, initiate the transfer at least one business day before Martin Luther King Jr. Day to avoid delays.
If you have a time-sensitive financial matter — a mortgage payment due, a loan application, or a dispute — contact your bank before the holiday to make sure your needs are handled. Some banks allow you to schedule payments in advance through their online system, which can bypass the holiday delay.
What happens to direct deposits and automatic payments
Direct deposits scheduled for Martin Luther King Jr. Day usually arrive on time. The Federal Reserve processes these transactions automatically, and the holiday does not stop the system. Your paycheck or benefit payment will land in your account as scheduled, even though the bank branch is closed.
Automatic bill payments also process normally. If you have set up automatic payments to your credit card, utility, or loan, they will deduct from your account on the scheduled date, holiday or not. The transaction may show as pending until the next business day, but the money will move.
If a payment is due on the holiday itself and you have not yet sent it, sending it on the holiday through your bank's online system will usually be recorded as received on that date, even though it will not actually process until the next business day. Check your bank's specific policy, as some institutions may treat holiday submissions as received the next business day.
How to find your bank's holiday schedule
The easiest way is to search "[Your Bank Name] holiday hours" or "[Your Bank Name] Martin Luther King Day." Most banks post their holiday schedule on their website under a section called "Hours" or "Locations." You can also call your branch directly and ask.
If you use a credit union, visit their website or call the main number. Ask specifically whether they observe Martin Luther King Jr. Day as a holiday or operate on a different schedule.
For online banks, check their FAQ or help section. Many state clearly that they do not have branch closures, but some do pause certain services on federal holidays.
Frequently Asked Questions
Can I use my debit card at stores on Martin Luther King Jr. Day if the bank is closed?
Yes. Your debit card works at stores, restaurants, and online retailers regardless of whether your bank branch is open. The transaction processes through the payment network, not through the branch. Your bank's systems continue to run even when the branch is closed.
Will my paycheck arrive on time if it is direct deposited on Martin Luther King Jr. Day?
Almost always yes. The Federal Reserve processes direct deposits automatically on the scheduled date, including federal holidays. Your employer's payroll system sends the deposit, and it lands in your account on the day it is supposed to, even though the bank branch is closed.
What if I need to deposit a check on the holiday?
Use mobile check deposit through your bank's app if you have it. Take a photo of the front and back of the check and submit it through the app. The check will be processed when the bank reopens the next business day. If your bank does not offer mobile deposit, you will need to wait until the branch reopens.
Do credit unions close on Martin Luther King Jr. Day?
Most do, but not all. Some credit unions stay open or offer limited hours. Call your credit union directly or check their website to find out their specific holiday schedule. Do not assume it is the same as the bank down the street.
If I wire money the day before the holiday, when will it arrive?
It depends on the receiving bank and the time you send it. If you initiate a wire transfer before 2 or 3 p.m. on the business day before the holiday, it may arrive the same day if the receiving bank is also open. If you send it after that time or on the holiday itself, it will likely arrive the next business day after the holiday.