Even though there are dozens of holidays and observances celebrated throughout the year, there are only 11 U.S. bank holidays or days when government services and banks are usually shut down. We’ll cover which ones they are and why they’re celebrated below.
Why Businesses Should Track Holidays
Bank closures can slow deposits from crediting to your account and make it impossible to obtain working capital, creating problems with everything from inventory to payroll. Keeping track of U.S. bank holidays is essential to ensure you have enough cash on hand.
It’s also a good idea to keep track of holidays even if they don’t impact the services you can access, as they can still influence cash flow.
List of Federal Holidays
Technically speaking, the U.S. doesn’t have “bank holidays.” There aren’t any days that businesses or banks are required to close. However, there are federal holidays. Federal employees, including Federal Reserve Bank employees, receive the day off, and offices close. Most other banks follow suit because they rely on the Federal Reserve Bank. The days on which this occurs are:
New Year’s Day
Martin Luther King Jr. Day
U.S. Bank Holidays and Other Observances
Now that we’ve covered the background, let’s dig into some of the biggest holidays in America, why they’re celebrated, and whether banks usually close on them.
New Year’s Day (Federal Holiday – Banks Closed)
Fixed Holiday: January 1
Few people realize this, but there were initially only four federal holidays, congressional reports show. New Year’s Day was one of them, with the others being Independence Day, Thanksgiving Day, and Christmas Day. These federal holidays were established in 1870 and only applied to the federal workforce in Washington, D.C., as the government was wary of imposing its will on the states. Today, federal holidays apply to most federal employees across the country. Most states have adopted them, too. However, businesses can still choose whether to observe the day.
With this in mind, virtually all government offices and businesses are closed on New Year’s Day. Some people use the day to sleep in after ringing in the new year, while traditionalists may indulge in a large meal or spend time with friends and family. It is a fixed holiday, so it’s always celebrated on January 1. However, if the first day of the year falls on a Saturday, workers will generally get the Friday before it off. If the day falls on a Sunday, workers will usually receive Monday off instead.
Martin Luther King Jr. Day (Federal Holiday – Banks Closed)
Floating Holiday: Third Monday of January
January 15, 2024
January 20, 2025
January 19, 2026
January 18, 2027
January 17, 2028
Martin Luther King Jr. Day, often shortened to MLK Day, is held in honor of King and his efforts to end racial injustice. It’s observed on the Monday closest to King’s birthday and is a federal holiday, so most banks are closed.
Valentine’s Day (General Holiday – Banks Open/ Follow Normal Schedule)
Fixed Holiday: February 14
Named in honor of St. Valentine, a martyred priest from Ancient Rome who was imprisoned and sent the jailor’s daughter letters signed “from your Valentine,” the meaning of Valentine’s Day has shifted over the years. It has been a day for couples, then expanded into a day to celebrate all loved ones. Today, it’s held in tandem with Singles Awareness Day.
Valentine’s Day is not a federal holiday, so banks follow their normal schedule. Many businesses will see an uptick in sales on the holiday and leading up to it, though.
Although people often refer to the February holiday as “President’s Day,” it’s still officially Washington’s Birthday. It’s observed on the third Monday of February, which is close to Washington’s and Lincoln’s birthdays. Washington’s Birthday is one of the 12 federal holidays, so banks and most businesses are closed.
Ramadan (Religious Holiday – Banks Open/ Follow Normal Schedule)
Floating Holiday: Ninth Month of the Islamic Calendar
March 10 – April 29, 2024
March 1 – March 30, 2025
February 18 – March 19, 2026
February 8 – March 9, 2027
January 28 – February 26, 2028
Ramadan is a month-long Islamic holiday. It’s dedicated to spiritual growth, so those who observe it fast from sunup to sundown, tend to worship more, and often engage in charitable activities. Banks operate under their regular schedule during this time. However, businesses with a customer base that’s largely Muslim may see shifts in customer behavior, such as less daytime activity while people fast.
St. Patrick’s Day (General Holiday – Banks Open/ Follow Normal Schedule)
Fixed Holiday: March 17
Although St. Patrick’s Day has religious roots, it’s mostly treated as a day to celebrate Irish culture in the United States today. People often wear green, go to parades, and attend parties. Banks keep their normal schedules.
Holi (Religious Holiday – Banks Open/ Follow Normal Schedule)
Floating Holiday: Last Full Moon Day of the Lunisolar Calendar
March 25, 2024
March 14, 2025
March 3, 2026
March 22, 2027
March 11, 2028
Known as the Festival of Colors, the Hindu holiday Holi marks the start of spring and celebrates the triumph of good over evil. Businesses and banks across the country keep their normal schedule.
Easter (Religious Holiday – Banks Open/ Follow Normal Schedule)
Floating Holiday: First Sunday After the Spring Equinox
March 31, 2024
April 20, 2025
April 5, 2026
March 28, 2027
April 16, 2028
Easter falls on a Sunday when banks are traditionally closed, and the holiday does not usually influence whether businesses are open. People often spend the day at church and have a meal with their families. There are also lots of family-friendly activities, such as Easter egg hunts. Some businesses, such as retailers, may see an uptick in business leading up to the day.
Tax Day (Observance – Banks Open/ Follow Normal Schedule)
Fixed Observance: April 15
As a business owner, your taxes should be taken care of long before the April 15 deadline. However, many businesses leverage the date to boost sales by offering discounts for those who spend their tax returns with them. Some even have tax preparers on-site. Aside from this, there’s little other fanfare on the day or leading up to it, and it doesn’t usually impact business or banking hours.
Cinco De Mayo (General Holiday – Banks Open/ Follow Normal Schedule)
Fixed Holiday: May 5
Cinco de Mayo is “Fifth of May” in Spanish. It’s a Mexican holiday that celebrates the country’s victory over France in 1862, though it’s treated as a celebration of Mexican culture in America. Block parties, complete with mariachis and street food, are popular. Banks and businesses keep their regular hours.
Mother’s Day (General Holiday – Banks Open/ Follow Normal Schedule)
Floating Holiday: Second Sunday of May
May 12, 2024
May 11, 2025
May 10, 2026
May 9, 2027
May 14, 2028
Mother’s Day is on a Sunday and is not a federal holiday, so it doesn’t impact banking or business hours. However, some companies, especially those specializing in gifts, food, or entertainment, may need to ramp up to prepare for an influx of business.
Memorial Day (Federal Holiday – Banks Closed)
Floating Holiday: Last Monday of May
May 27, 2024
May 26, 2025
May 25, 2026
May 31, 2027
May 29, 2028
Memorial Day is observed on the last Monday in May and is a federal holiday, so banks are usually closed. The holiday was established to pay tribute to those who have died serving in the United States Military, so there are often patriotic celebrations and parades. However, it’s also considered the unofficial start to summer, so many people head outdoors and have barbeques.
Father’s Day (General Holiday – Banks Open/ Follow Normal Schedule)
Floating Holiday: Third Sunday in June
June 16, 2024
June 15, 2025
June 21, 2026
June 20, 2027
June 18, 2028
Like Mother’s Day, Father’s Day is on a Sunday and is not a federal holiday, so it doesn’t impact banking or business hours either. However, certain companies will see an influx of business as people celebrate the dads in their lives.
Juneteenth (Federal Holiday – Banks Closed)
Fixed Holiday: June 19
Juneteenth was declared a federal holiday in 2021, though parts of the country began celebrating it in the 1800s. Although Lincoln had already signed the Emancipation Proclamation and declared enslaved people free in 1863, slavery continued in several Confederate states. Juneteenth, formerly known as Emancipation Day, commemorates the day federal troops arrived in Galveston, Texas, took control of the state, and freed enslaved people there. The formerly enslaved people celebrated with food, singing, dancing, and prayer, which are all now part of modern celebrations.
Because Juneteenth is a federal holiday, banks and federal government agencies are closed. However, not all states observe the holiday. Because the date is fixed and the holiday is celebrated on June 19 each year, the observed date may move to Friday or Monday if the 19th falls on a weekend.
Independence Day (Federal Holiday – Banks Closed)
Fixed Holiday: July 4
Independence Day, observed every year on July 4th, is one of the original four federal holidays. Banks and many businesses close for the day. It may be observed on the Friday before if it falls on a Saturday or the Monday after if it falls on a Sunday. People often spend the day at patriotic celebrations with music, food, and fireworks.
Labor Day (Federal Holiday – Banks Closed)
Floating Holiday: First Monday in September
September 2, 2024
September 1, 2025
September 7, 2026
September 6, 2027
September 4, 2028
Labor Day is observed on the first Monday in September and is often considered the unofficial end of summer. It’s a day to celebrate workers and acknowledge worker’s rights. Banks are closed, and people often spend the day engaging in outdoor activities such as barbeques and festivals.
Columbus Day (Federal Holiday – Banks Closed)
Floating Holiday: Second Monday in October
October 14, 2024
October 13, 2025
October 12, 2026
October 11, 2027
October 9, 2028
The second Monday in October is a federal holiday, so banks are closed. It’s officially Columbus Day, a day to celebrate Christopher Columbus’ arrival in the Americas in 1492. However, the country is divided on whether this should be celebrated,Pew reports. Many prefer to celebrate Indigenous Peoples’ Day instead due to the hardships early settlers caused for native populations.
Halloween (General Holiday – Banks Open/ Follow Normal Schedule)
Fixed Holiday: October 31
Although Halloween is not a federal holiday and banks follow their regular schedules, some businesses will be impacted. Some retailers, for example, will see upticks in sales throughout the month. Younger children usually spend the evening trick-or-treating, while teens and adults hand out candy or attend parties.
Veterans Day (Federal Holiday – Banks Closed)
Fixed Holiday: November 11
Veteran’s Day is a federal holiday, so banks are closed. However, because it has a fixed date, the observed date may shift to a day before or after if it falls on a weekend.
Diwali (Religious Holiday – Banks Open/ Follow Normal Schedule)
Floating Holiday: 15th day of the Month of Kartika in the Hindu Calendar
November 1, 2024
October 21, 2025
November 6, 2026
October 29, 2027
October 17, 2028
The word “Diwali” comes from the Sanskrit word “Deepavali,” which means “line of lamps.” It’s considered the Festival of Lights, or a celebration of the triumph of good over evil, and is celebrated by Hindus, Buddhists, Jains, and Sikhs.
Banks and business operations are not usually impacted by the holiday, though some companies may see an uptick in business. People often celebrate by lighting dipa lamps, lighting fireworks, sharing a meal, and exchanging gifts.
Thanksgiving (Federal Holiday – Banks Closed)
Floating Holiday: Fourth Thursday in November
November 23, 2023
November 28, 2024
November 27, 2025
November 26, 2026
November 25, 2027
November 23, 2028
Thanksgiving was one of the original four federal holidays. Banks and most businesses are closed. People often travel to see family, share a meal, and watch football, though the day is intended to commemorate the first Thanksgiving – a 1621 harvest feast shared by early colonists and members of the Wampanoag Nation.
Thanksgiving usually serves as the kickoff for holiday shopping. Several shopping-based observances immediately follow it, and most businesses capitalize on them to boost sales.
Thanksgiving-Based Shopping “Holidays”
Black Friday: Day After Thanksgiving
Small Business Saturday: Saturday After Thanksgiving
Floating Holiday: Beginning the 5th of Kislev on the Hebrew Calendar
December 7, 2023
December 25, 2024
December 14, 2025
December 4, 2026
December 24, 2027
December 12, 2028
Hanukkah, the Jewish Festival of Lights, can start as early as November 28 or as late as December 27. The holiday commemorates the rededication of the Second Temple in Jerusalem following the Maccabean Revolt against the Seleucid Empire in the 2nd century BCE. The event is special because it’s said that a single day’s oil supply lasted the eight days required to complete the rededication. Therefore, Hanukkah is an eight-day celebration, with evenings full of worship, family time, and traditional foods. It’s not a U.S. bank holiday, and most businesses are unaffected.
Christmas Eve (General Holiday – Banks Open/ Follow Normal Schedule)
Fixed Holiday: December 24
Although many people begin their Christmas festivities on Christmas Eve, the day is not a federal holiday. Banks and most businesses are open, though some close early in observance of the holiday.
Christmas Day (Federal Holiday – Banks Closed)
Fixed Holiday: December 25
Christmas Day is the final of the initial four federal holidays. Banks and most businesses are closed. Although it has a religious history, most Americans celebrate it regardless of religion. Gift exchanges and festive meals are common.
Kwanzaa (Cultural Holiday – Banks Open/ Follow Normal Schedule)
Fixed Holiday: December 26 – January 1
“Kwanzaa” comes from the Kiswahili phrase “matunda ya kwanza,” which means “first fruits [of the harvest].” It’s a fixed holiday honoring African heritage and culture that runs seven days starting on December 26 each year, though it’s not a federal holiday and doesn’t impact bank or business operations.
New Year’s Eve (General Holiday – Banks Open/ Follow Normal Schedule)
Fixed Holiday: December 31
New Year’s Eve is a day of parties, with people striving to stay awake until the new year officially rolls in. It’s not a bank holiday, though sometimes banks and businesses close early.
Help Your Business Prepare for U.S. Bank Holidays and Observances with Factoring
Invoice factoring accelerates payment on your B2B invoices, you can get working capital right away instead of waiting weeks or months for your clients to pay. If you need cash in order to ramp up for a holiday or want to be sure you’re not impacted by bank holidays, take the first step andrequest a complimentary factoring rate quote.