Are Banks Open on Memorial Day?

Theresa Kim

By , Staff Writer
Posted on Thu May 22, 2014, Last Updated on Fri Sep 12, 2014

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Are Banks Open on Memorial Day?

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Memorial Day is commemorated on the last Monday in May — which falls on May 26, 2014. Memorial Day customarily marks the start of summer, while Labor Day, celebrated on the first Monday of September, marks its end. Many people will spend this three-day weekend to enjoy the beginning of the summer season with barbeque parties and family gatherings — but are banks open on Memorial Day? 

Memorial Day is a federal holiday

Unlike the Confederate Memorial Day, Memorial Day is a U.S. federal holiday that honors all the soldiers who have died for our country — including both the Union and Confederate soldiers. Memorial Day is a federal holiday and therefore most of the biggest banks in the U.S. will be closed on May 26, 2014.

It is important to note that TD Bank will be closed on Monday. This may come as a surprise for many TD Bank customers, given that the bank was open during most federal holidays last year. On the other hand, U.S. Bank will be open on Monday but plan to close their doors at 2 p.m. — earlier than their regular weekday hours but still a huge plus given that it is a federal holiday.

Note that some banks have a presence in retail outlets — which may not be affected by the holiday bank hour schedule. Even though PNC Bank and SunTrust Bank branches will be closed on Memorial Day, their in-store or supermarket branches may remain open. Hours may vary by location so be sure to check before leaving home.

Here is the holiday schedule for Memorial Day at the 10 largest U.S. banks:

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Other closings

Because Memorial Day is recognized as a federal holiday in the United States, many government offices, public schools, post offices, and banks will be closed or affected on this day.

Some businesses may offer reduced hours of services or be closed for Memorial Day as well. The good news is that most supermarkets, drug stores and grocery stores will stay open over the Memorial Day weekend (including on Monday) to accommodate its customers.

What you can do

Your bank may be closed but you won’t be exempt from your financial duties so it’s crucial to plan ahead. If you have any errands to run at the bank, especially the ones that will require the help of a banker or a teller, make an effort to take a visit before this three-day weekend kicks in.

If you need to get cash from the ATM, rest assured that ATMs will remain accessible any day of the week, even through the holidays. Remember that you can always conduct your banking through online and mobile channels. Regardless of whether or not your bank is open, all banking transactions will not be processed on federal holidays.

If you have any additional questions, find your bank’s customer service phone number and a branch nearest you by looking up your bank on MyBankTracker’s Bank Profile page.

The team at MyBankTracker would like to wish you all a very fun and safe Memorial Day weekend!

 

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