Most banks close on MLK Day, but some services stay available

Most banks in the United States close their physical branches on Martin Luther King Jr. Day, which falls on the third Monday of January each year. However, you can still access your money through ATMs, online banking, and mobile apps — these services run 24/7 regardless of the holiday.

The day is a federal holiday, which means the Federal Reserve and most major banks treat it as a non-business day. This affects when deposits clear, when wire transfers process, and when you can speak to a person at a branch. But it does not stop you from checking your balance, transferring money between your own accounts, or withdrawing cash.

If you need to do something that requires a teller or a loan officer — like depositing a check, opening a new account, or explore for a loan — you will need to wait until the next business day, which is typically Tuesday.

Key Takeaways

  • Bank branches close on MLK Day, but ATMs and online banking work normally, so you can withdraw cash and check your balance anytime.
  • Deposits made on the holiday will not clear until the next business day, usually Tuesday.
  • Wire transfers and ACH transfers (payments between banks) also process on the next business day, not the holiday itself.
  • If you need to speak with a banker or complete a transaction that requires a person, plan to visit on Tuesday or call ahead to confirm your branch's hours.

What you can and cannot do on MLK Day

You can withdraw cash from any ATM, check your account balance online, transfer money between accounts you own at the same bank, and pay bills through your bank's website or app. You can also use your debit card to make purchases at stores. These functions do not depend on the bank being staffed.

You cannot deposit a check at a teller window, open a new account, explore for a credit card or loan, or speak to a banker about your account. You also cannot use the bank's deposit envelope system at the branch — those envelopes are collected and processed during business hours. If you try to deposit a check through a mobile app, the deposit will be received but will not clear until the next business day.

Some banks offer limited services at certain branches or through their customer service phone lines, but this varies by bank. Call your bank ahead of time if you think you might need help on the holiday.

When deposits and transfers clear after the holiday

Any deposit you make on MLK Day — whether through an ATM, a mobile app, or a branch envelope — will be timestamped as received on that day. However, the bank will not actually process it until the next business day, which is Tuesday. This means the money will not be available in your account until Tuesday or Wednesday, depending on the type of deposit.

Wire transfers and ACH transfers (the electronic payments that move money between different banks) also wait until Tuesday to process. If you send a wire transfer on Monday, it will leave your account on Tuesday. If someone sends you a wire transfer on Monday, it will arrive on Tuesday.

Check deposits can take longer. A check deposited on Monday will not clear until at least Wednesday, sometimes Thursday, depending on the bank and the check's origin.

How to plan ahead if you need banking services

If you know you will need to deposit a check or handle something that requires a teller, deposit it on Friday before the holiday. This gives the bank time to process it before the long weekend.

If you need cash and are worried the ATM might be out of money, withdraw it on Friday. ATMs do run out of cash during long holidays, especially in busy areas.

If you are expecting a wire transfer or a payment from your employer, remember that it will not arrive until Tuesday at the earliest. Do not count on the money being there on Monday.

If you have a time-sensitive transaction — like paying a bill before a important date — do it on Friday or early the following week. Do not wait until Monday if the important date is close.

Which banks are closed and which stay open

All federally chartered banks and most state-chartered banks close on MLK Day. This includes the major national banks: Bank of America, Chase, Wells Fargo, Citibank, and most regional banks.

Some credit unions may have different holiday schedules, so check with yours directly. A few banks that operate in specific states or serve niche markets may stay open, but this is rare.

Online-only banks like Ally, Charles Schwab Bank, and Discover Bank do not have physical branches, so the holiday does not affect their operations in the same way. You can still use their apps and websites normally. However, customer service phone lines may have reduced hours or be closed entirely.

What to do if you have an emergency on MLK Day

If you need cash urgently, use an ATM. Most ATMs are stocked before the holiday and will have money available.

If your debit card is lost or stolen, call your bank's customer service line. Most banks have a 24/7 fraud line that operates even on holidays. They can cancel your card and issue a temporary number or send a replacement.

If you have a banking error or a dispute, you can report it on the next business day. Most issues do not need to be resolved on the holiday itself. Write down the details while they are fresh so you can explain them clearly when you call Tuesday.

Frequently Asked Questions

Can I deposit a check on MLK Day using my phone?

Yes, most banks allow mobile check deposits on holidays. The bank will receive the image on Monday, but the check will not clear until Tuesday or later. The money will not be available in your account until then.

Will my paycheck arrive on MLK Day if my employer uses direct deposit?

No. Direct deposits scheduled for MLK Day will process on Tuesday instead. If your payday falls on Monday, the money will arrive Tuesday morning. Check with your employer about their payroll schedule around the holiday.

Can I use my debit card to buy things on MLK Day?

Yes. Debit cards work at stores and ATMs on holidays because those transactions do not require the bank to be open. The purchase will post to your account the next business day.

What if I need to wire money on MLK Day?

You cannot send a wire transfer on MLK Day itself. If you try to initiate one through your bank's website or app, it will be queued and sent on Tuesday. If you need money to move urgently, plan the transfer for Friday.

Are savings accounts affected by the holiday?

No. You can transfer money out of a savings account, check your balance, and move money between your own accounts on MLK Day. The holiday only affects services that require the bank to process transactions with other banks or institutions.