You're standing in front of those heavy glass doors. You tug. They don't budge. We've all been there, staring at a small taped-up sign listing federal holidays while our check remains uncashed in our pocket. If you're wondering is the bank closed on Presidents Day, the short answer is almost certainly yes.
Presidents Day, or Washington's Birthday as the government officially calls it, is a federal holiday. Because the Federal Reserve takes the day off, the plumbing of the American financial system basically pauses. Most brick-and-mortar institutions follow that lead. It's just how the gears of the U.S. banking system grind to a halt every third Monday in February.
Why the Federal Reserve Dictates Your Monday Plans
The Federal Reserve is essentially the "bank for banks." When the Fed closes, the ACH (Automated Clearing House) systems that move money between different institutions don't process at their usual speed. This is why your direct deposit might show up a day late if it was supposed to land on that Monday.
Most people don't realize that "Presidents Day" isn't even the legal name of the holiday. According to the U.S. Office of Personnel Management (OPM), the holiday is technically "Washington's Birthday." The Uniform Monday Holiday Act of 1968 shifted several holidays to Mondays to give workers long weekends, but it didn't officially change the name to honor Lincoln or any other president at the federal level.
Retail banks like JPMorgan Chase, Bank of America, Wells Fargo, and Citibank almost always shutter their physical branches. If you need a teller, you’re out of luck.
📖 Related: 53 Scott Ave Brooklyn NY: What It Actually Costs to Build a Creative Empire in East Williamsburg
The Rare Exceptions and Digital Loopholes
Not every single person with a vault is locked up tight. TD Bank, for example, has historically been the "black sheep" of holiday schedules. They often stay open on holidays like Presidents Day or Veterans Day when everyone else is home. However, even TD Bank has started aligning more with federal schedules in recent years, so checking their specific branch locator is a must.
Online banks don't "close" in the traditional sense. You can log into Ally, SoFi, or Marcus by Goldman Sachs at 2:00 AM on a holiday and move money between your own accounts. But—and this is a big "but"—if you try to send a wire transfer or an external transfer to a different bank, that money isn't moving until Tuesday.
- ATMs are your best friend. You can still deposit cash or checks at most smart ATMs.
- Mobile apps work fine. You can snap a photo of a check, but the "available funds" might be delayed by 24 hours.
- Zelle and Venmo. These usually work for person-to-person transfers, though "standard" transfers to your bank account will be stuck in the holiday bottleneck.
What About the Stock Market?
If you're a trader, you're also taking a forced break. The New York Stock Exchange (NYSE) and the Nasdaq are closed on Presidents Day. This usually coincides with the banking holiday. If you're used to checking your portfolio at 9:30 AM, you'll see a flatline. Interestingly, the bond market also closes, often shutting down even earlier on the Friday preceding the holiday.
Real-World Impact on Your Paycheck
This is where things get annoying. If your company processes payroll and the payday falls on that Monday, you might see your money on the preceding Friday, or you might have to wait until Tuesday. It depends entirely on how your HR department handles "holiday shifts."
👉 See also: The Big Buydown Bet: Why Homebuyers Are Gambling on Temporary Rates
I once worked for a small firm that forgot about the February holiday. The owner sent the payroll file on Friday afternoon, thinking it would hit our accounts Monday morning. Because the Fed was closed, none of us got paid until Wednesday. It was a mess. Always check your pay stub app if you're living tight on those margins.
Credit Unions vs. Big Banks
Credit unions are member-owned, but they still rely on the same federal rails. Generally, if the post office is closed (which it is on Presidents Day), the credit union is closed too. Don't expect your local teacher's credit union to be the exception.
Strategies for Managing Your Money Over the Long Weekend
Since you know the doors are locked, you have to be a bit more tactical. Don't wait until Monday morning to realize you need a cashier's check for a car down payment or a house closing.
- Get your cash early. While ATMs work, they have daily withdrawal limits. If you need $3,000 for a private sale on Monday, you better get to a teller by Saturday morning.
- Schedule bills ahead of time. Most bill-pay systems recognize holidays and will warn you that a payment scheduled for Monday will actually process on Tuesday.
- Use the "Instant Transfer" feature. If you're using apps like CashApp or Venmo and desperately need that money in your debit account on a holiday, pay the 1.75% fee for the instant transfer. It usually bypasses the standard ACH delay that plagues the holiday.
The History of the Monday Stall
The reason we have this issue at all dates back to the 1880s when Washington's Birthday became a federal holiday. Back then, "online banking" was just a guy with a ledger. Today, it feels archaic that a digital system needs to "close," but the banking industry is built on legacy infrastructure. The FedNow service, which launched recently, is trying to move the U.S. toward 24/7/365 instant payments, but most banks are slow to fully integrate it into their consumer-facing products.
✨ Don't miss: Business Model Canvas Explained: Why Your Strategic Plan is Probably Too Long
Until then, we are stuck with the 19th-century tradition of the "Bank Holiday."
A Quick Checklist for Presidents Day Monday:
- Post Offices: Closed. No mail delivery.
- Courts: Closed.
- Schools: Most are closed, though some private institutions stay open.
- Retail/Grocery: Mostly open. In fact, many have "Presidents Day Sales."
- Buses/Trains: Often run on a "Sunday" or modified schedule.
Actionable Steps for the Holiday Weekend
Stop wondering is the bank closed on Presidents Day and start prepping. If you have a deadline on Monday, handle it on Friday.
First, check your bank’s mobile app for any "holiday hours" banners. Usually, they’ll post a notice a week in advance. Second, if you’re expecting a tax refund or a direct deposit, add one business day to your expected arrival date to avoid frustration. Finally, if you absolutely must speak to a human, call the customer service number on the back of your card. Call centers are often staffed even when the physical branches are dark, though wait times might be longer than usual.
Plan for the delay, get your cash on Saturday, and treat the Monday like a financial "pause button." Your money isn't gone; it's just resting.