Happy New Year! It’s the end of the year and you have banking tasks that need to be completed. Maybe you need to ask your bank about contributing to your 410(k) by December 31st? Or about harvesting tax losses to offset gains in the stock market? Another common end of year banking task is paying down credit card debt or applying for a new card.
If you have these or other end-of-year financial tasks, you may be asking: Is my bank open on New Year’s Eve, the last day of the year? Is my bank open on the first day of the year, New Year’s Day?
New Year’s Day, January 1st, is a federal bank holiday according to the Federal Reserve. All banks will be closed on New Year’s Day, the first day of each year.
In 2026, New Year’s Day lands on a Thursday.
In 2028, New Year’s Day lands on a Saturday. Therefore, the holiday will be observed on Friday, December 31st, 2027.
New Year’s Eve, December 31st, however, is a regular banking day and banks hours will be the same as usual for that day of the week. The exception to this is when New Year’s Eve, the last day of the year, falls on a weekend. Typically, banks will be open or have partial hours if New Year’s Eve is on a Saturday. If New Year’s Eve is on a Sunday, banks will close for the day. Some bank branches may also close early on New Year’s Eve, so it is worth checking your local branch hours.
Find below a chart that shows which day of the week New Year’s Day lands on along with the date it is observed.
| Year | New Year’s Day | Date Observed |
| 2017 | Sunday, January 1 | Monday, January 2 |
| 2018 | Monday, January 1 | Monday, January 1 |
| 2019 | Tuesday, January 1 | Tuesday, January 1 |
| 2020 | Wednesday, January 1 | Wednesday, January 1 |
| 2021 | Friday, January 1 | Friday, January 1 |
| 2022 | Saturday, January 1 | Friday, December 31 |
| 2023 | Sunday, January 1 | Monday, January 2 |
| 2024 | Monday, January 1 | Monday, January 1 |
| 2025 | Wednesday, January 1 | Wednesday, January 1 |
| 2026 | Thursday, January 1 | Thursday, January 1 |
| 2027 | Friday, January 1 | Friday, January 1 |
| 2028 | Saturday, January 1 | Friday, December 31 |
| 2029 | Monday, January 1 | Monday, January 1 |
| 2030 | Tuesday, January 1 | Tuesday, January 1 |
| 2031 | Wednesday, January 1 | Wednesday, January 1 |
| 2032 | Thursday, January 1 | Thursday, January 1 |
| 2033 | Saturday, January 1 | Friday, December 31 |
Bank hours can vary by branch
Even though New Year’s Eve is generally a regular banking day, branch hours are not always identical across locations. Some branches close earlier than usual on December 31st, especially inside grocery stores, malls, or corporate campuses. If you are making a last minute trip, check your branch hours on your bank’s website or app before you go.
Online and mobile banking usually stay available
Most banks keep online banking and mobile banking available on federal holidays, including New Year’s Day. That means you can often do common tasks like:
- Transfer money between accounts at the same bank
- Pay bills using online bill pay
- Deposit checks using mobile deposit
- Lock or unlock a debit card and set travel alerts
Availability can vary by bank, and some features may post the next business day.
ATMs and debit card purchases typically still work
Even when branches are closed, ATMs generally operate as normal. You can usually withdraw cash, check balances, and sometimes deposit cash or checks. Debit card purchases typically continue to work on New Year’s Day as well, as long as you have available funds and the merchant accepts your card network.
Customer support hours may be reduced
A bank can be closed for in person service while still offering phone, chat, and secure message support. On New Year’s Day, customer support hours may be shorter than usual. If you expect you may need help, consider reaching out on New Year’s Eve or earlier in the week.
ACH transfers and bill payments can take longer around the holiday
If you are sending an ACH transfer (for example, moving money to another bank) or using online bill pay, New Year’s Day can affect processing and posting times. If the holiday falls on a weekday, payments and transfers may not process until the next business day. If you have a bill due on January 1st, it may be safer to schedule payment a few business days ahead.
Wire transfers often have earlier cutoffs
Wire transfers can be time sensitive, and many banks have daily cutoff times that are earlier than normal business hours. If you need to send a domestic or international wire before the end of the year, confirm the cutoff time on New Year’s Eve. If you miss the cutoff, the wire may not go out until the next business day.
Deposits may show up, but funds availability can still be delayed
A deposit made on New Year’s Eve may be credited the same day, but funds availability rules can still apply. A mobile deposit or ATM deposit made late in the day may be processed the next business day. If you need money available immediately, ask your bank about deposit timing and holds.
Credit card payments and due dates still matter
A common end of year task is paying down credit card debt or making a final payment before interest posts. If your due date falls on New Year’s Day, your card issuer may treat it as due the next business day, but policies vary. Also, paying on the due date may not reduce your balance right away if you are trying to lower utilization before a statement closes. If you want the payment to count for the current statement period, consider paying earlier.
Year end checklists can prevent last minute surprises
If you have banking tasks to finish before December 31st, a simple checklist can help:
- Confirm branch hours for New Year’s Eve
- Check cutoff times for wires and other transfers
- Schedule bill payments early if the due date is near January 1st
- Verify direct deposit, payroll, or benefits timing if you rely on it
- Make sure you have cash on hand if you will need it on New Year’s Day
Common questions about New Year’s Eve and New Year’s Day banking
Is New Year’s Day a federal bank holiday? Yes, banks are closed on January 1st.
Is New Year’s Eve a bank holiday? No, New Year’s Eve is generally a regular banking day, with the main exception being when it falls on a weekend.
Will my deposit hit on New Year’s Day? Some deposits may show as pending, but posting can be delayed until the next business day.
Can I still move money on New Year’s Day? Transfers within the same bank often work, but transfers to other banks may not process until the next business day.
Find below a chart that shows which day of the week New Year’s Day lands on along with the date it is observed.
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