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By Heritage Bank on January 10, 2024
2 minute read

Why Banks Are Closed on Federal Holidays & What That Means for Your Banking

Why are banks closed on federal holidays?

The Federal Reserve, the entity that regulates the nation’s banking system, observes federal holidays. When the Federal Reserve is closed, most member banks close their branches because of the limited amount of banking it is possible to complete until the Federal Reserve reopens.

In those years when a federal holiday falls on Saturday, banks will generally close on Saturday. When federal holidays fall on Sunday, the Federal Reserve generally observes the holiday on the next Monday.

Is digital banking still available when the branch is closed?

Yes. Digital banking – through your PC or mobile app – is available 24/7. However, some transactions may not be processed until the Federal Reserve reopens.

If you deposit a check using the mobile app or through an ATM on a Saturday, Sunday or federal holiday, the deposit will not be posted until the next business day. Wires will not be processed until the next business day.

The great thing about digital banking is that you can still cross your everyday banking errands off your list from wherever you can access secure WiFi knowing your transactions will be processed by the end of the next business day.

Are loan payments made on a federal holiday posted on the day of payment?

The loan payment, whether made by check or electronic ACH, will not be processed until the next business day. Heritage Bank customers are encouraged to ensure loan payments arrive a few days before a federal holiday to ensure they don’t inadvertently miss a due date.

Are the bill payments I schedule through online banking processed the same day if scheduled on a federal holiday?

Heritage Bank encourages customers to schedule payments at least five days ahead of due dates to accommodate the occasional federal holiday and weekends.

If my direct deposit is scheduled for a federal holiday, will the money be available on the day of the deposit?

The direct deposit will not be processed until the next business day. Most employers accommodate federal holidays by scheduling direct deposit payroll a day early.

Will Zelle process payments on federal holidays?

Payments cannot be processed until the next business day. If you send or expect to receive payments via Zelle over a federal holiday, you should expect the transaction to take a bit longer to process.

Will my credit cards and debit cards still work on federal holidays?

Provided your credit limit is sufficient, your spending will not be hindered by a federal holiday. Most cards can be reported missing on any day, and suspicious activity can still be reported by calling the 1-800 number on the back of the card.

What if I need cash?

ATMs still operate during holidays. Heritage Bank offers surcharge free ATMs easy for customers to access thanks to our participation in the AllPoint network. There are hundreds of ATMs across greater Cincinnati and tens of thousands of surcharge free ATMs across the nation. Learn how to find an ATM in our network.

Which days are federal holidays in 2024?

Federal Holidays 2024 Dates
New Year's Day January 1
Martin Luther King Jr. Day January 15
Presidents Day February 19
Memorial Day May 27
Juneteenth National Independence Day June 19
Independance Day July 4
Labor Day September 2
Columbus Day October 14
Veterans Day November 11
Thanksgiving November 28
Christmas December 25


Who determines federal holidays?

The U.S. Congress is responsible for designating federal holidays.

Published by Heritage Bank January 10, 2024