Most banks close on MLK Day, but some branches stay open
Yes, most banks are closed on Martin Luther King Jr. Day (observed on the third Monday in January). All federal banks shut down because it is a federal holiday. However, some branches in larger cities or inside grocery stores and pharmacies may stay open, and online banking never closes.
If you need cash or have to deposit a check, plan ahead. ATMs work on the holiday, and mobile deposits through your bank's app process immediately. Transfers between your own accounts also go through. The delay comes only if you need a teller or if money has to move between banks.
Key Takeaways
- Federal banks close on MLK Day, but some branches in retail locations or major cities may remain open — call your branch to confirm.
- ATMs work all day on the holiday, and you can deposit checks through your bank's mobile app without waiting.
- Transfers between your own accounts process immediately, but payments to other people or businesses may not clear until the next business day.
- If you need cash before the holiday, withdraw it the day before rather than relying on a branch being open.
Which banks close and which stay open
All national banks and banks chartered by the federal government must close on MLK Day. This includes Chase, Bank of America, Wells Fargo, Citibank, and most regional banks. State-chartered banks that are insured by the FDIC also close, though a few state-only banks may have different rules depending on where they operate.
Some branches stay open anyway. Banks inside Walmart, Target, Walgreens, or CVS sometimes keep their hours because the store itself is open. Credit unions vary — some close, some stay open. The only way to know is to call your specific branch or check their website the day before.
Online banks like Ally, Charles Schwab, and Discover do not have physical branches, so there is nothing to close. You can transfer money, pay bills, and deposit checks through the app or website at any time.
What you can do without a branch
ATMs work on MLK Day. You can withdraw cash, deposit cash (if your ATM accepts deposits), and check your balance. There is no limit to how many times you can use an ATM on a holiday.
Mobile check deposits go through immediately. Take a photo of the front and back of the check through your bank's app, and the money is yours to use right away — even though it may take one or two business days to fully clear on the bank's end. You can spend it the same day.
Transfers between accounts you own at the same bank process instantly. If you need to move money from savings to checking, do it through the app or ATM. Payments to other people or businesses through bill pay or Venmo may not leave your account until the next business day, depending on how you send them.
What gets delayed until the next business day
Checks you deposit at a branch or ATM on MLK Day do not clear until Tuesday (or Wednesday if Tuesday is also a holiday in your state). The bank does not process them on the holiday itself.
Wire transfers and ACH transfers to other banks may not go out until Tuesday. If you initiate one on Monday, ask your bank whether it will process that day or wait until the next business day. Some banks send wires on holidays; most do not.
Payments you make to creditors, utilities, or merchants may not post until Tuesday. If a bill is due on Monday and you pay it on Monday, contact the creditor to confirm they received it and will not charge a late fee. Many creditors know banks are closed and allow an extra day.
How to plan ahead for MLK Day
Withdraw cash on Friday or Saturday if you know you will need it Monday. ATMs work all weekend, and you will not have to worry about whether your branch is open.
Deposit checks through your mobile app instead of waiting for a branch. The money is available to spend immediately, and you do not have to go anywhere.
If you need to wire money or send an ACH transfer, do it on Friday. Do not wait until Monday morning. The same rule applies if you are paying a bill that is due on Monday — pay it Friday to make sure it clears on time.
If you have a question only a teller can answer, call your branch on Friday and ask. Do not assume they are open Monday just because some branches in other cities are.
What to do if you need cash and the branch is closed
Use an ATM. Every bank has them, and they work on holidays. If your bank's ATM is not nearby, use an ATM from another bank — you will pay a fee (usually $2 to $3), but you will get cash.
Ask a friend or family member to lend you cash until Tuesday. This is faster than trying to find an open branch.
If you use a debit card, you can buy something at a store and ask for cash back. Grocery stores, pharmacies, and gas stations usually allow this on holidays.
Frequently Asked Questions
Can I use my debit card on MLK Day if the bank is closed?
Yes. Your debit card works at ATMs, stores, and online all day. The bank being closed does not affect your card. You can spend money, withdraw cash, and check your balance without visiting a branch.
Will my direct deposit come through on MLK Day?
No. Direct deposits from employers and government agencies do not process on federal holidays. If your paycheck or benefit payment is scheduled for MLK Day, it will arrive on Tuesday instead. Check with your employer or the agency to confirm the exact date.
What if I need to dispute a charge on MLK Day?
Call your bank's customer service line. Most banks have phone support open on holidays, even if branches are closed. You can report fraud or dispute a transaction without waiting until Tuesday. The bank will start an investigation and may issue a temporary credit while they look into it.
Do credit unions close on MLK Day?
Most do, but not all. Some credit unions observe MLK Day as a holiday and close their branches. Others stay open. Call your credit union on Friday to find out whether they will be open Monday, or check their website for holiday hours.
Can I pay my credit card bill on MLK Day?
Yes, through your card's website or app. The payment will be recorded immediately, but it may not post to your account until Tuesday. If your bill is due Monday, pay it Friday to be safe. If you pay Monday, contact the credit card company to confirm they received it and will not charge a late fee.