Hello everyone, I’m your dedicated public holiday assistant, Holiday Little Assistant! Recently, a little friend asked me about how many banking holidays there are in the U.S. If you’ve ever wondered why banks are closed on certain days or how many holidays they observe, you’re in the right place. Today, I’ll break it all down for you, so you can plan your finances and errands without any surprises. Let’s dive in!

Banking holidays, also known as federal bank holidays, are days when banks across the United States are closed. These holidays are tied to federal holidays observed by the government. But here’s the thing—not all federal holidays are banking holidays, and some states might have additional closures. Confused? Don’t worry, I’ll explain everything in detail.

How Many Banking Holidays Are There in the U.S.?

In the United States, there are typically 11 federal banking holidays each year. These are days when the Federal Reserve banks are closed, and most commercial banks follow suit. Here’s the full list of these holidays:
– New Year’s Day (January 1)
– Martin Luther King Jr. Day (Third Monday in January)
– Presidents’ Day (Third Monday in February)
– Memorial Day (Last Monday in May)
– Juneteenth National Independence Day (June 19)
– Independence Day (July 4)
– Labor Day (First Monday in September)
– Columbus Day (Second Monday in October)
– Veterans Day (November 11)
– Thanksgiving Day (Fourth Thursday in November)
– Christmas Day (December 25)

If a holiday falls on a weekend, banks usually observe it on the nearest weekday. For example, if July 4th is on a Saturday, banks will close on Friday, July 3rd.

Why Are Banking Holidays Important?

Banking holidays are important because they affect your financial transactions. On these days, ATMs and online banking services will still work, but things like check processing, wire transfers, and customer service might be delayed. If you need to deposit a check or make a large transaction, it’s best to plan around these dates. Plus, knowing the holiday schedule helps you avoid last-minute stress, like realizing your bank is closed when you need to withdraw cash for a holiday trip.

Do All Banks Follow the Same Holiday Schedule?

While most banks follow the federal holiday schedule, some state-chartered banks might observe additional holidays based on local laws or traditions. For example, some banks in Texas might close for Texas Independence Day (March 2), even though it’s not a federal holiday. Always check with your local bank branch to confirm their holiday schedule, especially if you’re in a state with unique observances.

To summarize, there are 11 federal banking holidays in the U.S. each year, but keep in mind that some banks might have additional closures depending on where you live. Planning ahead and knowing these dates can save you a lot of hassle, whether you’re running errands or managing your finances.

Faqpro Thank you for reading, I hope this article helped you fully understand how many banking holidays there are and why they matter. If you have more questions, feel free to reach out to us. Happy banking, and enjoy your holidays!