Most banks are closed on Martin Luther King Jr. Day
Martin Luther King Jr. Day is a federal holiday, and most banks treat it the same way they treat Thanksgiving, Christmas, and Independence Day — they close their branches and do not process transactions. If you need cash, a deposit, or a loan decision on MLK Day itself, you will not reach a branch.
However, you can still move money through ATMs and online banking. ATMs run 24/7 at most banks, and you can transfer funds, pay bills, and check balances from your phone or computer. Some banks also staff customer service phone lines on the holiday, though response times are usually longer.
The exact closure depends on which bank you use and where you live. A few regional banks and credit unions stay open on MLK Day, and some branches in areas where the holiday is not widely observed may operate on a reduced schedule. Your best move is to check your bank's website or call ahead the day before.
Key Takeaways
- Federal banks close on MLK Day, but ATMs and online banking stay available 24/7.
- You can transfer money, pay bills, and check balances from your phone or computer on the holiday.
- Some credit unions and regional banks stay open on MLK Day, so check your institution's schedule before you need it.
- If you need a teller or a loan decision, plan to visit the branch the day before or after the holiday.
- Wire transfers and check deposits may process the next business day even if you submit them online during the holiday.
Which banks close and which stay open
All major national banks — Bank of America, Chase, Wells Fargo, Citibank, US Bank, and others — close their branches on MLK Day. Credit unions vary. Many close because they follow the federal holiday calendar, but some stay open, especially if they serve communities where the holiday is not observed as widely. Call your credit union the day before to confirm.
Regional and community banks are split. Some close; others stay open with limited hours. If you bank locally, a quick phone call to your branch manager will tell you whether they are open. Many post their holiday schedule on their website or in the branch window weeks in advance.
Online-only banks like Ally, Charles Schwab, and Discover do not have branches, so the holiday does not affect you in the same way. You can still use their services, but customer service wait times may be longer if you call.
What you can do on MLK Day without a branch
ATMs work around the clock. You can withdraw cash, deposit checks (if your bank has mobile deposit or ATM deposit), transfer money between your own accounts, and check your balance. ATM fees may apply if you use another bank's machine.
Online and mobile banking let you pay bills, send money to other people through your bank's app, set up automatic transfers, and review your account history. These transactions process immediately or on the next business day depending on the type of transfer.
Phone banking is available at most banks, though hold times are longer on holidays. You can ask questions, report fraud, or request a wire transfer, though the wire may not process until the next business day.
Timing for deposits and checks on MLK Day
If you deposit a check through mobile deposit or an ATM on MLK Day, it enters the queue but does not process until the next business day. The bank's system is closed, so no teller is reviewing or clearing the deposit. You will see the deposit show up in your account on Tuesday (or Wednesday if Tuesday is also a holiday in your area).
Wire transfers submitted on MLK Day will not leave your account until the next business day. If you need money to move urgently, submit the wire on the day before the holiday instead.
ACH transfers (the system most banks use to move money between accounts) also queue up and process the next business day. If you set up an automatic bill payment on MLK Day, it will go out on the next scheduled date, not immediately.
Planning ahead for MLK Day
If you know you will need cash or need to handle banking on or around MLK Day, withdraw money the day before. Most people do not think about this until the holiday arrives, and ATMs can run out of cash in busy areas.
If you need a loan decision, a mortgage approval, or a notary, schedule that appointment for the day before or the day after. Banks do not process these requests on federal holidays.
Check your bank's website for their specific holiday schedule. Many post it in the fall for the entire year, so you can plan around it. If you cannot find it online, call your branch or use the bank's chat feature to ask.
What happens if you need emergency banking on MLK Day
If you have a fraud alert or suspect unauthorized charges, call your bank's fraud line. Most banks staff this line on holidays because fraud does not take a day off. Have your account number and a recent transaction ready.
If you are locked out of your account or forgot your password, use your bank's app or website to reset it. If that does not work, call customer service. Wait times will be long, but the line is usually open.
If you need a wire transfer urgently, some banks can process it through their customer service line on the holiday, though this is not may provide. Call and ask. If they cannot help, you will need to wait until the next business day.
Frequently Asked Questions
Can I use my debit card on MLK Day?
Yes. Debit cards work at merchants and ATMs on holidays. The bank's branch is closed, but the payment network is running. Transactions process normally.
Will my direct deposit hit my account on MLK Day?
No. If MLK Day falls on a weekday, employers usually process payroll the day before, so the deposit hits your account on Friday. If MLK Day is on a Monday, payroll typically processes on Friday of the previous week. Check with your employer's payroll department if you are unsure.
Can I deposit a check at an ATM on MLK Day?
Yes, if your bank has ATM check deposit. The check enters the system but does not clear until the next business day. You will see a pending deposit in your account, but the funds are not available until Tuesday.
What if my bank says it is open on MLK Day?
Some banks and credit unions do stay open. If yours is one of them, hours may be shorter than usual. Call ahead to confirm the exact hours before you go.
Do credit card payments process on MLK Day?
If you pay online or through the card issuer's app, the payment is submitted but may not post to your account until the next business day. If you mail a check, it arrives after the holiday. Pay a few days early to avoid late fees.