Most banks are closed on Martin Luther King Jr. Day

Martin Luther King Jr. Day is a federal holiday, and most banks observe it by closing their physical branches. This means you cannot visit a teller, use the safe deposit box, or conduct in-person business on that day. The holiday falls on the third Monday in January each year.

However, "closed" does not mean you lose access to your money entirely. ATMs stay open, online banking works normally, and mobile apps function as usual. If you need cash or want to move money between accounts, you can do those things without visiting a branch.

Some banks—particularly large national chains like Bank of America, Wells Fargo, Chase, and Citibank—close all branches on MLK Day. Credit unions typically follow the same pattern. Smaller regional banks and community banks may have different policies, so calling ahead is the safest move if you have a specific transaction in mind.

Key Takeaways

  • Bank branches close on Martin Luther King Jr. Day, which occurs on the third Monday of January.
  • ATMs and online banking remain available even when branches are closed, so you can withdraw cash and transfer money remotely.
  • If you need to speak with a banker or handle something that requires a person, you will need to wait until the next business day.
  • Some smaller banks or credit unions may have different holiday schedules, so contact your institution directly if you are unsure.

What you can and cannot do on MLK Day

ATM withdrawals work normally on MLK Day. You can pull out cash, check your balance, and deposit checks into an ATM envelope at any time. Online banking—transferring money between your own accounts, paying bills, sending wire transfers—all function the same way they do on any other day.

What you cannot do is walk into a branch and speak to a teller or banker. You cannot open a new account, apply for a loan, rent a safe deposit box, or resolve disputes that require a person on the other side of the desk. If you need a cashier's check or a bank statement printed on the spot, you will have to wait until the next business day.

Mobile banking apps work just like online banking. You can send money to other people, deposit checks by photograph, and manage your accounts from your phone.

When your bank reopens after MLK Day

Banks reopen on Tuesday if MLK Day falls on a Monday, which it always does. Your next business day is the day after the holiday. Any transactions you schedule online or through an ATM on MLK Day itself will process normally, though transfers between banks may take an extra day if they were initiated late in the day.

If you have a check you want to deposit, using the mobile app or an ATM envelope on MLK Day is fine—it will be processed when the bank reopens. Mailed checks typically take three to five business days to clear regardless of holidays, so the holiday does not change that timeline.

How to find your bank's specific holiday schedule

Call your bank's customer service line or check their website for their official holiday schedule. Most banks publish this information in their FAQ section or under "Hours and Locations." You can also visit your branch in person before the holiday and ask a teller directly.

If you bank with a large national chain, their website usually has a searchable branch locator that shows hours for each location. Some branches in certain states or regions may have different hours than others, so checking your specific branch is more reliable than assuming all locations follow the same schedule.

Planning ahead to avoid problems

If you know you will need cash or need to handle a banking task on or around MLK Day, plan for it before the holiday arrives. Withdraw extra cash from an ATM on Friday or the day before the holiday. If you need to deposit a check, use mobile deposit or an ATM envelope rather than waiting for a teller.

For time-sensitive transactions—like applying for a loan, opening an account, or resolving a problem with your account—contact your bank on the business day before the holiday. Many issues can be handled over the phone or through email, and the bank can schedule an appointment for you on the day they reopen.

What happens to deposits and transfers on MLK Day

Deposits made through an ATM or mobile app on MLK Day will be processed when the bank reopens the next day. The bank's system still records the transaction, but human processing does not happen until staff return.

Transfers between accounts at the same bank usually post immediately, even on holidays, because they are handled by automated systems. Transfers to other banks may take an extra day if initiated on MLK Day itself, since the receiving bank also needs to process the transfer when it reopens.

Wire transfers initiated on MLK Day typically do not send until the next business day, so if you need money to move urgently, send it before the holiday.

Frequently Asked Questions

Can I use my debit card on Martin Luther King Jr. Day?

Yes. Debit cards work at any merchant or ATM on MLK Day. The holiday only affects bank branch operations, not the payment networks that process card transactions. You can shop, pay bills, and withdraw cash normally.

Will checks I deposit on MLK Day clear faster or slower?

Checks deposited on MLK Day through an ATM or mobile app will be processed the next business day when the bank reopens. The holiday adds one day to the timeline compared to a regular weekday deposit, but the standard three- to five-day clearing period still applies after that.

What if I need to speak to someone about my account on MLK Day?

Call your bank's customer service line. Most banks staff their phone lines even on holidays, though wait times may be longer. If the issue is not urgent, you can also email the bank or use their online chat feature and wait for a response the next business day.

Do online banks close on MLK Day?

Online-only banks like Ally, Charles Schwab, and Marcus do not have physical branches, so there is nothing to close. You can access your account, transfer money, and withdraw cash at partner ATMs on MLK Day just as you would any other day.

Are credit unions closed on Martin Luther King Jr. Day?

Most credit unions close their branches on MLK Day because it is a federal holiday. However, ATM access and online banking remain available. Contact your credit union directly to confirm their specific holiday schedule, as some smaller credit unions may operate differently.