Are Banks Open on Presidents Day? Here’s What You Need to Know
Presidents Day, which is observed annually in honor of George Washington’s birthday, falls on Monday, Feb. 20, this year.
Washington was sworn in as the first president in 1789 after leading American troops to victory over the British and establishing independence for the 13 colonies.
There’s also the story about Washington chopping down a cherry tree, which turns about to be just a bit of fun trivia invented by one of Washington’s biographers and not the truth.
Cherry tree or not, on the third Monday in February, we pay tribute to the Founding Father’s (actual) legacies on Presidents Day.
For some, it’s an extra day to shop all the Presidents Day sales (no time like the president, er, present for some retail therapy).
For others, the bonus day is the perfect excuse to plan a fun getaway like a cozy ski trip or tropical beach vacay to escape winter’s chill.
No worries if you don’t have major plans on the horizon. Sometimes an extra day to sleep in and catch up on errands is all it takes to recharge the ol’ batteries.
If that’s what you’ve got on your docket this Presidents Day, good news: Most grocers, pharmacies and other retailers are open for business on Monday.
But since Presidents Day is a federal holiday, most schools, government offices and agencies are closed in observance of the day, including post offices. What about banks, though? Read on to find out if banks are open or closed on Presidents Day.
Are banks open on Presidents Day?
While a handful of financial institutions may be open on Presidents Day, a majority will be closed in observance of the holiday. That includes most banks, credit unions and the NYSE markets.
What does that mean? Well, you won’t be able to do business at most bank branches other than ATM transactions, for starters.
It also means that any withdrawals or deposits made won’t post until at least the following business day (Tuesday, Feb. 21) at the earliest.
That’s because weekend days and holidays don’t count as business days. So, be sure to plan ahead if you’ve got bank business to take care of.
A list of banks closed on Presidents Day
The following banks will be closed on Monday, Feb. 20:
- Bank of America
- Capital One
- PNC Bank
- Santander Bank
- TD Bank
- Wells Fargo
What other days are banks closed in 2023?
There are 11 federal bank holidays each year, including Presidents Day.
Here’s a list of the remaining 2023 holidays to help you plan ahead:
- Memorial Day | Monday, May 29
- Juneteenth | Monday, June 19
- Independence Day | Tuesday, July 4
- Labor Day | Monday, Sept. 4
- Indigenous Peoples’ Day | Monday, Oct. 9
- Veterans Day | Saturday, Nov. 11
- Thanksgiving Day | Thursday, Nov. 23
- Christmas Day | Monday, Dec. 25
This story first appeared on TODAY.com. More from TODAY:
Source: NBC New York
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