Are Banks Open or Closed on Memorial Day?

posted in: Banking Tips | 0
Are Banks Open or Closed on Memorial Day?


On Memorial Day, Americans remember those in the armed forces who have died in combat. It also marks the unofficial start to the summer season with a 3-day weekend filled with parades, family gatherings, and barbeque.

Memorial Day was first celebrated back in 1866 in remembrance of union soldiers who died in the Civil War.  It wasn’t until 1971 that Congress officially declared Memorial Day a national holiday in the United States.

 

When does Memorial Day take place?

Memorial Day is always observed on the last Monday in May.

This year, the date for Memorial Day is Monday, May 28th, 2018. Memorial Day was on May 29th, 2017 last year. Next year, it will land on May 27th, 2019. And in 2020, it will be observed on May 25th.


 

Are Banks Open or Closed?

Nearly all banks and credit unions in the United States are closed on Memorial Day, May 28th 2018, as it is a federal holiday. The Federal Reserve Bank, Post Offices, Federal & State Courts, the New York Stock Exchange, and NASDAQ will also be closed.

However, bank branch ATMs, toll-free support lines, online banking websites, and mobile banking apps will still be in operation on Memorial Day. This means you will be able to complete common tasks such as viewing your current balance, making a deposit, and withdrawing cash.

If you need to initiate a transaction requiring a bank employee, such as opening a new account or sending a wire transfer, you will have to wait until the next day. Keep in mind that transactions performed on Memorial Day, such as check deposits, will not finalize until the following business day.

 

Which Banks are Closed?

These major banking institutions are closed on Memorial Day:

  • Wells Fargo
  • JPMorgan Chase
  • Bank of America
  • Branch Banking and Trust
  • Regions Bank
  • TD Bank
  • KeyBank
  • Huntington National
  • Fifth Third Bank
  • Citizens Bank
  • Citibank
  • Compass Bank
  • Santander Bank
  • Capital One
  • BMO Harris Bank
  • Bank of the West
  • Comerica Bank
  • HSBC Bank
  • People’s United Bank
  • Union Bank
  • TCF Bank
  • Umpqua Bank
  • BancorpSouth
  • Prosperity Bank
  • Arvest Bank
  • Bank of the Ozarks
  • Synovus Bank
  • Washington Federal
  • Community Bank
  • Valley National Bank

 

Which Credit Unions are Closed?

All locations of these popular credit unions will be closed:

  • Navy Federal
  • PenFed
  • State Employees’ Credit Union
  • American First
  • The Golden 1 Credit Union
  • Mountain America
  • Security Service
  • Conexus Credit Union
  • Chartway Federal Credit Union
  • First Tech Credit Union
  • AlaskaUSA
  • Space Coast Credit Union
  • Alliant Credit Union
  • NASA Federal Credit Union
  • Suncoast Credit Union
  • Consumers Credit Union

 

Which Banks are Open?

There are a few exceptions to the rule. A handful of banks are open on Memorial Day. These include the following bank branches below.

  • PNC Bank (Supermarket in-store branches only)
  • SunTrust (Supermarket in-store branches only)
  • US Bank (Some branches open half-day)

Make sure to call the bank or credit union and ask before making the trip, as their hours may be limited.