Bank Holiday Schedule for 2020, 2019, 2018, 2017

posted in: Banking News, Banking Tips | 0
Bank Holiday Schedule for 2020, 2019, 2018, 2017


Few things are more frustrating than wanting to deposit a check, make a withdrawal or make a same-day online bill payment and then finding out that the bank is closed for a holiday.

The Federal Reserve bank observes 10 holidays each year. Most banks and credit unions will generally follow suit.

While not every bank observes all of these holidays, here is a handy schedule of holidays observed by most banks (including the Federal Reserve Bank) in the United States for ’20, ’19, ’18, and ’17:

As a general rule, when a bank holiday falls on a Saturday, it is not observed that year.

When a bank holiday falls on a Sunday, it is observed on the following Monday.


 

2020 Bank Holidays:

January 1, 2020 New Year’s Day Wednesday
January 20, 2020 Martin Luther King, Jr.’s Birthday Monday
February 17, 2020 Washington’s Birthday/President’s Day Monday
May 25, 2020 Memorial Day Monday
July 4, 2020 Independence Day Saturday
September 7, 2020 Labor Day Monday
October 12, 2020 Columbus Day Monday
November 11, 2020 Veterans Day Wednesday
November 26, 2020 Thanksgiving Day Thursday
December 25, 2020 Christmas Day Friday

 

2019 Bank Holidays:

January 1, 2019 New Year’s Day Tuesday
January 21, 2019 Martin Luther King, Jr.’s Birthday Monday
February 18, 2019 Washington’s Birthday/President’s Day Monday
May 27, 2019 Memorial Day Monday
July 4, 2019 Independence Day Thursday
September 2, 2019 Labor Day Monday
October 14, 2019 Columbus Day Monday
November 11, 2019 Veterans Day Monday
November 28, 2019 Thanksgiving Day Thursday
December 25, 2019 Christmas Day Wednesday

 

2018 Bank Holidays:

January 1, 2018 New Year’s Day Monday
January 15, 2018 Martin Luther King, Jr.’s Birthday Monday
February 19, 2018 Washington’s Birthday/President’s Day Monday
May 28, 2018 Memorial Day Monday
July 4, 2018 Independence Day Wednesday
September 3, 2018 Labor Day Monday
October 8, 2018 Columbus Day Monday
November 12, 2018 Veterans Day Monday
November 22, 2018 Thanksgiving Day Thursday
December 25, 2018 Christmas Day Tuesday

 

2017 Bank Holidays:

January 2, 2017 New Year’s Day Monday
January 16, 2017 Martin Luther King, Jr.’s Birthday Monday
January 20, 2017 Inauguration Day* Friday
February 20, 2017 Washington’s Birthday/President’s Day Monday
May 29, 2017 Memorial Day Monday
July 4, 2017 Independence Day Tuesday
September 4, 2017 Labor Day Monday
October 9, 2017 Columbus Day Monday
November 11, 2017 Veterans Day Saturday
November 23, 2017 Thanksgiving Day Thursday
December 25, 2017 Christmas Day Monday

 

* In 2017, some banks observed January 20, Inauguration Day, as an eleventh bank holiday for the year. Inauguration Day, a holiday every four years designated by Congress, is generally only recognized as a holiday by government employees and certain businesses in Washington, D.C. and its border counties in Virginia and Maryland. By designating the day as a holiday, congestion is eased for the swearing-in of a new president and vice-president.

 

Why do banks observe these holidays?

Federal Reserve Bank holidays mirror the schedule of federal holidays enacted by Congress. Generally, these holidays are days when various sectors of the U.S. population celebrate history, religion, and culture.

While they apply to the Federal Reserve Bank, there are no federally mandated holidays for the private banking sector. Some states require banks and other businesses to be closed on certain holidays.

 

Which banks observe these holidays?

All national and regional banks are closed on these federal bank holidays. This holds true for all the major financial service corporations, investment banks, and lenders, including Capital One, PNC, Wells Fargo, Bank of America, CitiBank, Chase, and Barclays.

 

What banking can I still do on a bank holiday?

On bank holidays when the banks are closed, you will not be able to deposit or withdraw funds by visiting a teller at the branch. This means you will also not be able to buy a cashier’s check or money order or take a credit card advance through the teller. You will also usually not be able to talk to a live phone banker or pay bills with the same effective date as the holiday.

The good news is that, even if a bank is officially closed for a holiday, you should still be able to access information including your balance and recent transactions online through your bank’s website. Most banks now also offer mobile applications, so if you have downloaded and installed the bank’s app on your smartphone or tablet, you can do these same things on the go. If your current bank does not offer online or mobile banking, it might be a good idea to open a new savings account with a bank that does.

While you cannot visit a teller or phone banker, you should still be able to access funds or deposit checks through ATMs, deposit checks through mobile devices, schedule bill payments and access things like statements and copies of checks through your bank’s website or app.

 

Plan ahead to avoid disruptions

So, while bank holidays mean the bankers and tellers are not working, it may not mean much to the way you manage your account. Whenever you can, try to plan ahead so that any business you need to conduct with your bank takes bank holidays into account. That way, you can sit back, relax and enjoy the holiday along with your local bankers.