New Year, oh, celebrations, farewells, new magical moments and many hopes to discover. And very hectic times for those who need to make last-minute banking transactions. Between preparations for New Year’s Eve, planning for the new year, are banks open on these dates? If you need to make any changes or transactions, whether it’s withdrawing cash or simply making sure everything is in order before the start of the year, it is necessary to know what the bank hours are for these dates. So, we are going to tell you everything you need to know so you can plan everything better and enjoy a great start to the year!
What happens to banks on December 31st and January 1st?
You have to keep in mind that on December 31st a lot of people go out to celebrate the new year with their families, and that January 1st is one of the 11 federal holidays in the United States, so public institutions and government offices will remain closed to celebrate the holiday. But what about banks? On the last day of the year, December 31st, banks will operate on regular business hours, but many branches will close earlier than usual, so operations will most likely end around 4:00 PM (local time).
For New Year’s Day, as we said, most banks will close their doors, as will Bank of America, Wells Fargo, Citi and many others, so keep in mind that if you need to make urgent transactions you will not have access to the branches.
And what do I do if I’m in a hurry?
Fortunately, we live in the age of technology, and although banks are not offering in-person service, banking services do not stop during holidays, so ATMs and mobile banking applications will be fully operational, so you will be able to carry out any transaction that you normally do (transfers, bill payments and balance inquiries).
When will things go back to normal?
The next day, remember that this closure is only for national holidays, so on January 2, all branches will be operational as every other day.
What other days are federal holidays in the USA?
Below, we are going to leave you the list of national holidays, in which government offices, banks, and most businesses will close their doors:
- 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 any inconvenience during these festive days, it is best to anticipate the closings. So, if you need to withdraw cash or make some specific transactions, you can do so on December 31st or days before. Take advantage of digital banking as well because it is a way to always have your bank with you and be able to make the necessary transactions when necessary. Finally, check the hours of your branch because although most banks close earlier on New Year’s Eve, some branches may have different hours.
Remember that New Year is New Year for everyone, and we all like to enjoy this day with our family. So, if you are in a hurry to make a transaction, do it earlier and anticipate this closing!
Life returns to normal on January 2nd. Have a Happy New Year!