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Bank holidays are days when banks and other financial institutions are closed. Although online financial services may still be available, there could be delays in money transfer times. Let’s take a look at US bank holidays and the schedules for the next five years.
US bank holidays are business days when financial institutions such as banks or credit unions are not operational. Online financial services may still be available. However, you should expect a possible delay in money transfer times.
In most years, there are eleven federal holidays, often referred to as US bank holidays. These days impact elements such as employee behavior, customer behavior (think Memorial Day mattress sales), cash flow, and more. As established in 1870, federal employees do not work on these days. Although US bank holidays only applied to federal employees initially, over time they came to be observed by businesses and schools nationwide and even in the private sector. It’s common to see businesses closed on these thirteen holidays.
US bank holidays
US bank holidays share a few characteristics. They often fall on federal holidays. However, US bank holidays don’t necessarily occur on stock market holidays. It is important to note that even if online banks operate during US bank holidays, deposits might not get transferred the same day. In rare occasions, bank holidays are established to prevent bank runs.
How US bank holidays work
In the United States, bank holidays signify that financial institutions will remain closed. US bank holidays don’t usually have anything to do with stock market holidays or even capital market holidays. Meanwhile, schools, colleges, offices, businesses, and even the stock exchange honor closures on certain bank holidays. Examples would be Memorial Day, Presidents’ Day, and New Year’s Day, which are all federal holidays.
US bank holidays and Net Pay Advance
We want our payday advance customers to be aware of how US bank holidays or federal holidays may impact funding. Although our instant same-day loans will not experience delays, customers with next-business-day funding are likely to experience delays on US bank holidays.
At Net Pay Advance, we don’t close business on every holiday. That’s why we want our customers to know that a delay in funding during a bank holiday happens because their bank is closed and is unable to process the funding. Bank holidays usually delay funding by one business day. When applying, it’s best to plan accordingly.
List of US bank holidays
As promised in the beginning, here’s a list of US bank holidays.
Feel free to add it to your digital calendar or print it out!
| Holiday | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|
| New Year’s Day | January 1 | January 1 | January 1 | January 1 |
| Inauguration Day | NA | January 20 | NA | NA |
| Martin Luther King Jr. Day | January 15 | January 20 | January 19 | January 18 |
| Presidents Day | February 19 | February 17 | February 16 | February 15 |
| Memorial Day | May 27 | May 26 | May 25 | May 31 |
| Juneteenth | June 19 | June 19 | June 19 | June 19† |
| Independence Day | July 4 | July 4 | July 4† | July 4‡ |
| Labor Day | September 2 | September 1 | September 7 | September 6 |
| ColumbusDay | October 14 | October 13 | October 12 | October 11 |
| Veterans Day | November 11 | November 11 | November 11 | November 11 |
| Thanksgiving Day | November 28 | November 27 | November 26 | November 25 |
| Christmas Day | December 25 | December 25 | December 25 | December 25† |
† If a holiday falls on a Saturday, the Friday preceding it becomes a legal holiday.
‡ In case a holiday falls on a Sunday, the following Monday becomes a legal holiday.
What these US bank holidays signify
Each of the US bank holidays holds certain significance and that’s why they made the cut. Originally, there were only four federal holidays established in June 28, 1870: New Years Day, Independence Day, Thanksgiving, and Christmas. The rest were added over time. The most recent additions to the list of US bank holidays are Juneteenth and Indigenous Peoples’ Day (added in 2021).
It’s important to note that in most years, there are eleven federal holidays. Some may say there are thirteen federal holidays depending on how they count the celebrations. Some count Indigenous People’s Day and Columbus Day as two separate holidays, even though they fall on the same date. In addition, every four years, there’s an additional US federal holiday observed: Inauguration Day.
Let us explore these US bank holidays:
New Years Day
One of the four original federal holidays, New Year’s Day is celebrated on January 1st of every year. It marks the beginning of a calendar year. Times Square in New York City has a tradition known as the “ball drop” to mark the start of a new year. This iconic event attracts about a million people each year while millions more watch it on TV or social media lives. This isn’t just an American holiday as it is celebrated in many other countries, too.
Inauguration Day (every four years)
This American holiday usually falls on January 20th in the year after an election is held but moves to a Monday should the 20th be a Sunday. It was declared a federal holiday in 1957 by President Dwight D. Eisenhower.
Martin Luther king Jr Day
This American holiday honors the life of Martin Luther King Jr. and commemorates his contributions as a civil rights activist towards racial equality and justice in this country. It falls on the third Monday of January every year and was included in the list of US bank holidays in 1983.
President’s Day
Created in 1968 in the honor of the first US president George Washington’s birthday, this US bank holiday is observed on the third Monday of February every year. Retailers across the country have sales around this American holiday and consumers make the best of them.
Memorial Day
Observed on the final Monday of May every year, this US bank holiday honors military personnel who lost their lives while in service. It became a federal holiday starting in 1968.
Juneteenth
This American holiday marks the emancipation of enslaved people in the United States and is observed on June 19th every year. The name of this holiday is a portmanteau of the words “June” and “nineteenth.” It is the most recently adopted holiday among all federal holidays (2021) although its origin can be traced back to 1865.
Independence Day
Freedom and fireworks! Observed on the 4th of July of every year, this day marks the birth of America as the Declaration of Independence was adopted. Fun fact: 150 million hotdogs are consumed on this day every year.
Labor Day
This day is observed on the first Monday of September every year. It recognizes the contributions and achievements of workers across the United States. Labor Day was first observed on September 5th, 1882, in New York City.
Columbus Day
Proclaimed as Indigenous Peoples’ Day (in 2021), this day was previously referred to as “Columbus Day” and marks the date of arrival of Christopher Columbus in the New World on October 12th, 1492. It has been observed on the second Monday in October every year since 1971.
Veteran’s Day
Proclaimed a federal holiday in 1954, this American holiday honors and celebrates the brave people that have served this country. It is observed on November 11th. If this date falls on a Saturday, then Veteran’s Day is celebrated on November 10th (Friday). If it falls on a Sunday, the event is observed on November 12th (Monday).
Thanksgiving
Food, family, and football reign this American holiday which is celebrated every year on the fourth Thursday of November. Want to know what’s the best thing about thanksgiving aside from the delicious spread of food? The day after Thanksgiving is Black Friday!
Christmas Day
Observed on December 25th of every year, Christmas is one of the four original federal holidays. Did you know that 95% of Americans observe Christmas in some capacity? This American holiday involves gift exchanges, light displays, and family time.
The bottom line…
When you’re an adult with responsibilities, it is very important to track holidays. US bank holidays or federal holidays may impact you in more ways than you think. Think of all the money transactions, such as a cash advance loan, you might need to make, or childcare options when schools and daycares are closed. You might even want to block these holidays to catch up on household chores like organizing your kitchen! Alternatively, some US bank holidays might be the perfect excuse to read our personal finance blog or watch time travel movies on Netflix.
