Are banks open on MLK Day

 Are banks open on Martin Luther King Jr. Day 2024? What to know this year

Every year on the third Monday of January, the United States commemorates the life and work of Martin Luther King Jr. with a federal holiday. Coinciding annually with the civil rights leader's birthday, MLK Day falls this year on Monday, January 15.

Considered one of the most influential figures in modern history, Martin Luther King Jr. is celebrated and remembered for his contributions to the advancement of civil rights and his tireless support to help secure equal rights for black Americans.

An activist, author, and Baptist minister, King's galvanizing speeches and peaceful protest were cornerstones of the civil rights movement, and his inspirational words are as powerful today as they were 50 years ago.

However you plan your vacation, you may want to cross a few tasks off your list. If one of them is a trip to the bank to deposit a check or transact some other financial business, you may be wondering if banks are open on Martin Luther King Jr. Day.

Most schools and government offices are closed on holidays, but what about banks, credit unions and other financial institutions? We've got everything you need to know in time for MLK Day Bank this year, and you'll find all the details below.

Are banks open on Martin Luther King Jr. Day?

Like most federal holidays, most banks and financial institutions are closed on Martin Luther King Jr. Day.

Not only will bank branches be closed, but transactions will not be processed until the next business day The stock market will remain closed on Monday, January 15

ATMs and online banking services will still be available for transactions, but they, too, will not process until banks reopen on Tuesday, January 16.

Although most establishments are closed in observance of the day, they are not required to be. According to the Federal Reserve Bank's website, "Each state decides whether to observe a federal holiday by law." "Although many states recognize most or all federal holidays, the federal government cannot enact laws requiring them to do so."

That's why it's never a bad idea to check with your local bank or branch to confirm their hours, just in case.