Are the Banks & Stock Market Open on Veterans Day 2020?

Getty A trader works at the Nasdaq MarketSite in New York. (Getty)

Veterans Day 2020 is finally here, which means that people will spend November 11 honoring all members of the US armed services. But if you’re looking to grab some cash for dinner, will the banks be open? How about the stock market?

Most banks will be closed Wednesday. The stock market, however, will be open. The only bank intended on remaining open, according to NJ.com, is TD Bank.

Here’s what you need to know:

When Are Banks Open?

According to Policy Genius, banks are typically open weekdays but close for holidays like Christmas, Thanksgiving, and Labor Day.

The Federal Reserve states that specific Federal Reserve Bank Holidays include New Year’s Day, MLK Jr. Day, Presidents Day, Memorial Day, Independence Day, Labor Day, Columbus Day, Veterans Day, Thanksgiving Day, and Christmas Day.

As many people are aware, banks have faced additional closures in the face of the COVID-19 pandemic. In August, the Wall Street Journal reported that the U.S. banking system was thrown into “extreme gyrations” amid the pandemic.

As the pandemic gained momentum, one of the main searches on the web was whether or not coronavirus can spread on money. As Heavy previously reported, the Centers for Disease Control and Protection says it is possible to get coronavirus from touching an object, however, this is not the main way it spreads.

The AP went on to specify that while the risk of getting the virus from cash is low, many worldwide businesses have nonetheless banned cash transactions in recent months.

What Else is Closed on Veterans Day?

As NJ.com points out, Veterans Day is the eighth of ten federal holidays in 2020. Christmas and Thanksgiving will follow.

It’s important to note that mail will not be delivered on Veterans Day, though FedEx and UPS will make deliveries. All city, county, state, and federal offices will be closed on Wednesday.

When it comes to bigger retailers, Walmart, Amazon, Home Depot, Coach, and Wayfair will have sales and be open. CVS and Best Buy are also slated to be open.

As is the case each year, Veterans Day comes with a number of great deals and freebies. Bob Evans, for example, will be offering veterans and active-duty military members one item for free from a special menu, while Bubba Gump Shrimp Company is offering 20% off meals for all military personnel.

You can expect trash pickup to operate on a typical schedule, as well. And schools will, for the most part, be closed on the day, which is a federal holiday.

Veterans Day came about in 1919 as Armistice Day. It was officially coined a national holiday in 1938. The holiday is often confused with Memorial Day, which recognizes men and women who died while in military service.

As the Brevard Times notes, Armistice Day was initially set aside to honor veterans of World War I. After World War II, however, the name was changed from Armistice Day to Veterans Day– a change that was signed into legislation in 1954.

Each year, Veterans Day is celebrated on November 11 unless the day falls on a weekend.

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