Today is Martin Luther King Jr. Day, which means most federal businesses and government-run services are closed. There is also no mail delivery today, most public schools are closed, and nearly all banks are closed on January 20, 2020. While most banks are closed, a few may choose to stay open, so we always recommend checking with your local branches to be sure. However, your bank is most likely closed today.
It’s worth nothing that many financial institutions have online and mobile banking options, as well as ATM machines that you’ll still be able to access — even if your local branch is closed. Keep reading for details on typical bank holiday hours of operation:
Most Banks Are Closed on MLK Day, 2020, Including Bank of America, Wells Fargo, Chase & TD Bank
The majority of U.S. banks are closed today as most banking institutions follow the holiday schedule of the Federal Reserve System, which is the nation’s central bank. That includes most Bank of America, Chase, Capital One, and Wells Fargo bank locations.
According to The Holiday Schedule, some Wells Fargo locations may be open, although most are likely closed. Some banks located in other retail outlets, such as Walmart and various grocery stores, may also remain open for the day. The site states, “Please be aware that Wells Fargo is one of very few banks that are open on many National Holidays. Do not assume if another bank is closed that every bank is closed. If the holiday is not listed below, Wells Fargo Bank will not be closed for that holiday.”
The following banks are scheduled to be closed on Martin Luther King Jr. Day:
TD Bank has occasionally remained open on minor federal holidays (such as MLK Day) in the past, but the TD site reports that most branches are closed this year. “We’re closed on Martin Luther King Jr. Day, January 20. But you can still bank with us right here. Or call 1-888-751-9000,” the website states.
Banks Are Closed on Most Federal Holidays, Including MLK Day, Presidents’ Day, Columbus Day & Veterans Day
When it comes to holidays that fall on a weekend, the Federal Reserve website states, “For holidays falling on Saturday, Federal Reserve Banks and Branches will be open the preceding Friday; however, the Board of Governors will be closed. For holidays falling on Sunday, all Federal Reserve offices will be closed the following Monday.”
The Federal Reserve Bank observes the following holidays:
- New Year’s Day
- Martin Luther King Jr. Day
- Presidents’ Day/Washington’s Birthday
- Memorial Day
- Independence Day
- Labor Day
- Columbus Day
- Veterans Day
- Thanksgiving Day
- Christmas Day
MLK Day always falls on the third Monday of January each year and it is a federal holiday, which honors the birthday of Martin Luther King Jr. (although his actual birthday is January 15, 1929). Other services often affected by MLK Day include mail delivery, garbage pickup and most government services; the DMV and most county libraries, as well as local, state and federal courts are all closed, although national parks typically remain open.