You’ve got a check to deposit or a wire transfer to kick off, and then you realize—it’s the first Tuesday in November. Your brain immediately goes into "holiday mode" because, well, the kids might be home from school and the news is wall-to-wall coverage of polling booths. You find yourself wondering: will banks be open on election day or am I going to be staring at a locked glass door?
Honestly, the answer is simpler than you’d think, but there are a few "gotchas" that could trip you up if you aren't careful.
The Short Answer: Yes, They’re Open
Basically, for the vast majority of people in the U.S., it is business as usual. Banks are definitely open on Election Day.
Why? Because Election Day is not a federal holiday.
In the United States, the banking system revolves around the Federal Reserve. If the Fed is open, the banks are open. The Federal Reserve follows the standard list of 11 federal holidays—things like Juneteenth, Labor Day, and Veterans Day. Since Congress hasn't designated Election Day as a federal holiday, the "plumbing" of the financial system keeps running.
The Weird Exceptions You Should Know About
Now, here is where it gets kinda interesting. While the big national players like Chase, Wells Fargo, and Bank of America keep their lights on, some states actually treat Election Day as a legal holiday.
Think of it like this: your state government might be taking the day off to vote, but your bank probably isn't.
The State Holiday List
A handful of states—including Illinois, Maryland, New York, and West Virginia—recognize Election Day as a civic holiday. In these places, state-run offices (like the DMV) and many schools will be closed.
However, even in these states, banks almost always stay open. Most financial institutions follow the federal calendar because they need to be able to process transactions through the Federal Reserve. If they closed while the rest of the country’s banks were moving money, it would be a logistical nightmare.
Small Credit Unions and Local Banks
This is the one "maybe" in the bunch.
💡 You might also like: Who Owns Columbia Records? The Truth Behind the Industry Giant
If you bank with a tiny, local credit union in a state where Election Day is a holiday, they might decide to close or have limited hours. It's rare, but it happens. If you’re dealing with a "mom-and-pop" style bank, a quick 30-second call to the branch is worth the effort before you drive across town.
Will My Paycheck Still Post?
This is the big concern for most of us. You’re waiting for that direct deposit to hit so you can pay the mortgage or grab groceries.
Because the Federal Reserve is open, direct deposits and ACH transfers work perfectly fine. * Direct Deposits: These will hit your account on their normal schedule.
- Wire Transfers: Since the Fedwire system is active, your wires will move as they would on any other Tuesday.
- Check Clearing: If you drop a check in the ATM on Election Day, the "clock" starts ticking immediately. You don't lose a day like you would on Christmas or Thanksgiving.
Why Isn't It a Holiday Anyway?
There is always a lot of chatter every couple of years about making Election Day a federal holiday to help people get to the polls.
Critics of the current system point out that it's tough for hourly workers to vote when the bank, the office, and the grocery store are all open. On the flip side, some experts argue that a holiday wouldn't actually help the people who need it most—service workers—because they’re the ones who usually have to work on holidays anyway.
Regardless of the politics, until a bill passes through Congress and gets a signature at the White House, the banks are going to keep their "Open" signs flipped.
Banking During a Tense Election Cycle
Sometimes people worry about "bank runs" or market volatility during a big election.
While the stock market might be a bit of a roller coaster, your local bank branch remains one of the most stable places in the country. Your money is still insured by the FDIC up to $250,000 per depositor, regardless of who wins the local or national races.
If you're feeling nervous about the crowds or potential protests near polling places, remember that online banking is your best friend. You can do about 95% of what you need—deposits, transfers, bill pay—right from your couch.
Pro-Tips for Election Day Banking
- Avoid the Lunch Rush: If your bank branch is near a polling station (many are), the parking lot might be a disaster. Try going early in the morning or later in the afternoon.
- Mobile Deposit is King: Don't even bother driving. Use your bank's app to snap a photo of that check.
- Check for Veterans Day: Here is a mistake people make all the time. Veterans Day (November 11) is usually just a week or so after Election Day. Banks ARE closed on Veterans Day. Don't confuse the two!
What You Should Actually Do
Since you now know that will banks be open on election day is a resounding "yes," your next steps are simple.
First, if you have a massive, time-sensitive transaction like a house closing, double-check with your specific title company or local lawyer. They are more likely to be closed than the bank itself.
Second, if you're planning to vote, check your bank's location. If it's a "voting leave" state, your employer might be required to give you time off to vote, and you can swing by the bank on your way back.
Basically, keep your banking plans as they are. Just be prepared for a little extra traffic on the roads, and maybe keep an eye out for those "I Voted" stickers in the teller line.