Most banks close on MLK Day, but some branches and ATMs stay open

Yes, most banks in the United States close on Martin Luther King Jr. Day (observed on the third Monday in January). Federal banks treat it as a holiday, which means the Federal Reserve does not process transfers that day, and most major banks — Bank of America, Chase, Wells Fargo, Citibank, and others — shut their branch doors.

However, your ATM will almost certainly work. ATMs run on a separate system and stay open 24/7 at most banks, even on holidays. If you need cash or want to deposit a check using a mobile app or ATM envelope, you can do that without waiting for a branch to reopen.

Some credit unions and smaller regional banks may have different holiday schedules, so if you bank somewhere other than a major national chain, call ahead or check your bank's website to confirm.

Key Takeaways

  • Federal holidays like MLK Day close most bank branches, but ATMs remain available around the clock.
  • The Federal Reserve does not process wire transfers or ACH payments on MLK Day, so transfers sent that day may not arrive until the next business day.
  • Mobile check deposit and ATM transactions work normally on the holiday.
  • Credit unions and smaller banks may have different schedules, so check your specific bank's website or call before you go.

What happens to transfers and payments on MLK Day

If you send a wire transfer, ACH transfer, or bill payment on MLK Day, it will not process until the next business day (Tuesday). The Federal Reserve, which clears most bank-to-bank transfers, does not operate on federal holidays. This means a payment you send Monday will sit in the queue and move on Tuesday morning.

Debit card purchases and credit card transactions process normally — those run through separate merchant networks that do not close for holidays. The delay only affects transfers between bank accounts and payments routed through the Federal Reserve.

If you have a time-sensitive payment due on MLK Day, send it the Friday before to make sure it clears on time.

ATM and mobile banking access on the holiday

ATMs stay open on MLK Day at virtually every bank. You can withdraw cash, deposit checks (if your ATM has an envelope slot or mobile deposit capability), check your balance, and transfer money between your own accounts without any interruption.

Mobile banking apps and online banking portals also work normally. You can check balances, set up bill payments, and deposit checks through your phone — those transactions just will not process through the Federal Reserve until Tuesday.

Which banks close and which might stay open

All major national banks close on MLK Day: Bank of America, Chase, Wells Fargo, Citibank, U.S. Bank, PNC, and TD Bank all treat it as a federal holiday and close their branches.

Credit unions vary. Some close on all federal holidays; others stay open. Call your credit union or check their website to confirm. Smaller regional banks also have different policies — some close, some stay open with reduced hours. Your best move is to check your specific bank's holiday schedule on their website or call the branch directly.

Online-only banks (like Ally, Charles Schwab, or Discover) do not have branches, so there is nothing to close, but they also do not process transfers on federal holidays.

How to plan ahead if you need banking services

If you know you will need to visit a branch on or around MLK Day, go on Friday or the following Tuesday instead. If you need cash, use an ATM on Monday — no problem there. If you need to send money, send it Friday so it clears before the holiday.

For bill payments, most billers accept payments sent a day or two early. If a payment is due on Tuesday and you send it Monday, it will arrive Tuesday or Wednesday depending on the biller's processing time — not the bank's holiday schedule.

If you have a question only a banker can answer, call your branch on Friday and ask, or use the bank's online chat or phone line (many banks have customer service available on holidays, even if branches are closed).

Frequently Asked Questions

Will my direct deposit arrive on MLK Day?

Direct deposits scheduled for MLK Day will arrive on Tuesday instead, because the Federal Reserve does not process ACH transfers on federal holidays. If your paycheck is normally deposited on Monday and MLK Day falls on that Monday, it will arrive Tuesday. Check with your employer or payroll department if you are unsure which day your deposit is scheduled.

Can I use my debit card on MLK Day?

Yes. Debit card purchases work normally on MLK Day because they run through merchant networks, not the Federal Reserve. The only delay is if you are transferring money between bank accounts — that waits until Tuesday.

What if I need to deposit a check on MLK Day?

Use your ATM or mobile app to deposit it. Most banks let you photograph a check through their mobile app, and ATMs with envelope slots accept deposits 24/7. The funds may not appear in your account until Tuesday, but the deposit itself goes through.

Do online banks close on MLK Day?

Online banks do not have branches to close, but they do not process transfers on federal holidays. If you send a transfer Monday, it will not move until Tuesday. You can still view your account and make transactions in your app — they just will not clear the Federal Reserve until the next business day.

Will my bill payment go through if I send it on MLK Day?

It depends on the biller. If you send a bill payment through your bank on Monday, the bank will not send it to the biller until Tuesday. Most billers accept payments a day or two early, so send it Friday if the bill is due Monday or Tuesday.