Are the Banks Open on Martin Luther King Day 2016?

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Martin Luther King Day is a federal holiday, which means there’s no mail and certain finances are put on hold as well. While most banks are closed, a few choose to stay open, so it may be best to check with your local branches. Online banking and ATMs will of course remain open, though transactions such as transfers may not show up until the next day. Market Watch writes:

U.S. stock and bond markets will be closed on Monday for the Martin Luther King Jr. holiday, but it will be business as usual for Globex electronic trading and in overseas markets.

Saving Advice reports:

It can get confusing whether or not banks and credit unions are open or closed on this day. That’s because even though Martin Luther King Jr. Day is a federal holiday, the day off work only applies to only federal employees. Private businesses, such as credit unions and banks, decide for themselves whether or not to stay open or close on federal holidays.

While most banks are closed, there are exceptions, particularly TD Bank:

While Martin Luther King Jr. Day is a federal holiday and most banks close their doors for the day, not all do. TD Bank is one exception, and its branches stay open on Martin Luther King Jr. Day. Some banks located in other retail outlets, such as Walmart and grocery stores, may also remain open for the day.

Other holidays that TD Bank stays open for are Veterans Day, Columbus Day, and Presidents Day. Citibank, Wells Fargo, Chase, and Bank of America are closed on Martin Luther King Day.


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