For those who have a lot of holiday shopping to do, you may be wondering whether banks are open or closed on Black Friday 2019, the day after Thanksgiving.
Thanksgiving is a federal holiday and banks are closed. As for Black Friday, it is not a federal holiday. Therefore, banks are open, according to Newsweek. However, credit unions may be closed. In the past, Federal Credit Union and the Allegan Credit Union were closed on Black Friday.
Banks Are Closed on Thanksgiving 2019
PNC Bank used to have some in-store branches with limited hours on Thanksgiving in previous years, but they no longer operate on Thanksgiving. As for Black Friday, though banks are generally open, some may operate on holiday hours.
But, many banks resume normal business hours on Black Friday. A spokesperson for Wells Fargo recently told Heavy that “All of our 5,400 branches are closed on Thanksgiving – and they reopen for normal business hours on Friday morning.” This wasn’t always the case with Wells Fargo, however. Wells Fargo told TIME that in 2016, about one dozen branches around the country were either closed or closed their doors early on Friday because of contractual agreements.
As far as bank transfers go, any transactions made on the Thanksgiving holiday will not be processed until the following business day. Check deposits will not clear until the next business day as well. Online banking, mobile banking, and ATMs will still be in operation.
The Stock Market Is Closed on Thanksgiving
State, local and federal offices are all closed for the Thanksgiving holiday. This means that the stock market is closed as well and, according to the official NYSE website, it is open on Black Friday until 1 p.m. The official statement via the New York Stock Exchange reads, “Each market will close early at 1:00 p.m. (1:15 p.m. for eligible options) on Friday, November 29, 2019, Friday, November 27, 2020, and Friday, November 26, 2021 (the day after Thanksgiving). Crossing Session orders will be accepted beginning at 1:00 p.m. for continuous executions until 1:30 p.m. on these dates, and NYSE American Equities, NYSE Arca Equities, and NYSE National late trading sessions will close at 5:00 p.m. All times are Eastern Time.”
In addition to Thanksgiving, all New York Stock Exchange markets observe the following holidays:
New Years Day
Martin Luther King, Jr. Day
The holiday hours for Christmas Eve have also been listed for the New York Stock Exchange. Their holiday schedule statement reads, “Each market will close early at 1:00 p.m. (1:15 p.m. for eligible options) on Tuesday, December 24, 2019, and Thursday, December 24, 2020. Crossing Session orders will be accepted beginning at 1:00 p.m. for continuous executions until 1:30 p.m. on this date, and NYSE American Equities, NYSE Arca Equities, and NYSE National late trading sessions will close at 5:00 p.m. All times are Eastern Time.”
There will be no mail delivery today, on Thanksgiving, as USPS branches will not be running, public libraries are closed, all federal offices will be shut down and courts will also be closed.
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