Oh, the New Year brings with it celebrations, farewells, new magical moments, and many hopes to discover. And these are hectic times for those who need to make last-minute banking transactions.
Are banks open on these dates, in between New Year’s Eve preparations and New Year’s planning? If you need to make any changes or transactions, such as withdrawing cash or simply ensuring that everything is in order before the start of the year, you should be aware of the bank hours for these dates.
So, we’re going to tell you everything you need to know so you can better plan your activities and have a great start to the year!
What happens to banks on December 31st and January 1st?
Keep in mind that on December 31st, many people go out to celebrate the new year with their families, and January 1st is one of the 11 federal holidays in the United States, so public institutions and government offices will be closed to celebrate.
But what about the banks? Banks will keep regular business hours on December 31st, but many branches will close earlier than usual, so operations will most likely end around 4:00 PM (local time).
As previously stated, most banks, including Bank of America, Wells Fargo, Citi, and many others, will close their doors on New Year’s Day, so keep in mind that you will not be able to conduct urgent transactions at the branches.
And what do I do if I’m in a hurry?
Fortunately, we live in the age of technology, and while banks are not offering in-person service, banking services do not stop during holidays, so ATMs and mobile banking applications will be fully operational, allowing you to complete any transaction you would normally do (transfers, bill payments, and balance inquiries).
When will things go back to normal?
Remember that the next day’s closure is only for national holidays, so all branches will be open as usual on January 2.
What other days are federal holidays in the USA?
We’ve compiled a list of national holidays on which government offices, banks, and most businesses will be closed.
- New Year: January 1.
- Martin Luther King Jr. Day: Third Monday in January.
- Presidents’ Day (or Washington Day): Third Monday in February.
- Memorial Day: Last Monday in May.
- Independence Day: July 4.
- Labor Day: First Monday in September.
- Columbus Day (or Indigenous Peoples’ Day): Second Monday in October.
- Veterans Day: November 11.
- Thanksgiving Day: Fourth Thursday in November.
- Christmas: December 25.
- Please note that if the holiday falls on a Saturday, it will be moved to the previous Friday, and if it falls on a Sunday, it will most likely be moved to the following Monday.
Any tips for planning?
To avoid inconvenience during these festive days, plan ahead of time for closures. So, if you need to withdraw cash or make specific transactions, you can do so on December 31st or earlier.
Take advantage of digital banking as well, as it allows you to keep your bank with you at all times and complete transactions as needed.
Finally, check your branch’s hours because, while most banks close earlier on New Year’s Eve, some locations may have different hours.
Remember that everyone celebrates New Year’s Day, and we all enjoy spending it with our families. So, if you need to complete a transaction quickly, do so now and plan ahead of time for the closing!
Life returns to normal on January 2nd. Have a happy new year!
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