Are banks open on Juneteenth?
Juneteenth has become a widely observed holiday in the United States, commemorating the end of slavery; it is the nation's newest federal holiday. Communities across the country celebrate with festivals, parades, and concerts, and many Americans devote the day to volunteer work. As many Americans ...
Are banks open on Juneteenth?
Overview
Juneteenth has become a widely observed holiday in the United States, commemorating the end of slavery; it is the nation's newest federal holiday. Communities across the country celebrate with festivals, parades, and concerts, and many Americans devote the day to volunteer work.
As many Americans prepare for a welcome three-day weekend, you may want to know if it's business as usual at your bank or if your bank will join federal offices and many other institutions and close for the day.
For customers who need to deposit checks, withdraw cash, or conduct other banking business, the answer is straightforward. Most banks' in-person services are not available on Juneteenth because it is a Federal Reserve holiday.
That means branch locations for many major banks, including JPMorgan Chase, Bank of America, Wells Fargo, Citibank, and PNC, generally do not open on June 19.
Details
Regular banking operations resume the following business day. Some banks will be open on Saturday, June 20, but many will not, so you will have to check your branch for specifics.
What is closed on Juneteenth?
In addition to banks, the New York Stock Exchange, Nasdaq and other institutions that observe the federal holiday calendar will be closed for the holiday.
Banks are closed because Juneteenth is recognized by the Federal Reserve as a banking holiday. While physical branches may be shuttered, customers can still access ATMs, mobile banking apps, and online banking services.
The U.S. Postal Service also suspends regular mail delivery, and post offices are closed for the day.
If you're expecting a delivery from UPS, DHL, or FedEx, your package should arrive as anticipated, since private companies typically continue operating on normal schedules.
When is the next bank holiday?
After Juneteenth, the next scheduled federal holiday is Friday, July 3. This is when most companies, banks, and government offices will observe Independence Day because July 4 falls on a Saturday this year.
10 days most banks close every year
Most banks follow the traditional federal holiday calendar. Some may shorten hours on the day before a major holiday, including Good Friday, Christmas Eve, and New Year's Eve, and some banks even stay closed the day after Thanksgiving, aka Black Friday, to give employees a long weekend. Here are the days most banks are closed:
- New Year’s Day
- Martin Luther King Jr. Day
- Washington’s Birthday (aka President’s Day)
- Good Friday
- Memorial Day
- Juneteenth National Independence Day
- Independence Day
- Labor Day
- Thanksgiving Day
- Christmas Day
Related: Wells Fargo reveals unexpected best days for stock market gains
Source
Originally published at www.thestreet.com.
