Are banks open on Labor Day 2016?

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Labor Day 2016 falls on Sept. 5 and, if you're lucky, you're one of the millions of Americans who gets a day off work. Deemed the unofficial end of summer, Labor Day always falls on the first Monday of September.

A legal holiday across the U.S. since 1894, Labor Day was created to honor the social and economic achievements of American workers. The very first Labor Day holiday was celebrated in New York City back in 1882, more than 130 years ago. Since then, it has been embraced as a relaxing day to soak up the last bits of summer.

There are a million different ways to enjoy the Labor Day holiday, so maximize your day away from work by making a game plan. Whether you head out of town for a weekend trip or plan a fun barbecue for your friends, now is the time to start preparing.

Are Banks Open on Labor Day 2016?

Financial institutions generally follow the Federal Reserve schedule, and since Labor Day is a holiday observed by the central bank, expect most branch locations to be closed. The NYSE, Nasdaq and SIMFA will also be closed on Labor Day, allowing employees to enjoy the day with family and friends. Of course, in today's tech-savvy world, you're never more than a few clicks away from your accounts, so if you need to access your funds, simply use your bank's website, mobile app or ATM.

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Of course, in some cases, some banks are open, so if you absolutely must do some banking in-person on Labor Day, you might be able to find an open branch. Generally speaking, branches located inside a store — such as a supermarket — have a better chance of being open, but be sure to inquire in advance.

Banks Open on Labor Day 2016

You'll be happy to know select branches of these banks might be open for at least part of the day on Labor Day.

  • Wells Fargo: Labor Day hours and closings vary by location, so check with your local branch for specific holiday information.
  • U.S. Bank: Most in-store branches will be open on Labor Day 2016, but might have limited hours. Check with your specific location for details.

How To: Start Making Good Financial Decisions

Banks Closed on Labor Day

These banks will not be open on Labor Day 2016, so be sure to plan accordingly prior to the holiday.

  • Bank of America
  • Bank of the West
  • BBVA Compass Bank
  • BB&T
  • BMO Harris Bank
  • Capital One Bank
  • Chase Bank
  • Citibank
  • Citizens Bank
  • Comerica Bank
  • Fifth Third Bank
  • First Niagara Bank
  • HSBC Bank
  • Huntington Bank
  • Huntington State Bank
  • KeyBank
  • M&T Bank
  • People's United Bank
  • PNC Bank
  • Regions Bank
  • Santander Bank
  • SunTrust Bank
  • TD Bank
  • Union Bank

The Origins of Labor Day

Enjoy this history lesson detailing the beginnings of Labor Day to truly appreciate having this day off of work and relaxing with your family.

RELATED: Helpful tips to save money on a holiday weekend:

9 PHOTOS
How to save money on a weekend getaway
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How to save money on a weekend getaway

Avoid peak weekends
Prices for everything will be higher (especially lodging) and places will be more crowded. You could end up paying more for a getaway that you enjoy less, thanks to long lines and wait times.
 

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Choose a location where outdoor activities are common
A rural location is ideal for things like bike riding, hiking and exploring--all of which are free!

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Don’t fall for the shorter time, spend more each day trap
Don't budget the same amount for a weekend trip as you would for a full vacation--staying somewhere for a longer vacation will probably cost you more overall.
 

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Take advantage of local deals online
Be sure to visit sites like Groupon and LivingSocial, which specialize in subsidizing area-specific deal, for fun things to do in the area on the weekend you're visiting.

Photo credit: Shutterstock

Bring pets if you have them
The cost of a pet sitter or kennel for the weekend can be costly. Save by bringing your animals along.
 

Photo credit: Shutterstock

Buy admission tickets in bundles
Many websites and companies will bundle tickets together for several attractions in the area, so the overall price is almost always cheaper than buying tickets individually.

Photo credit: Getty

Stay somewhere close to the main attractions
It will cut down on transportation costs and save you time, while ensuring you get the most out of your short time away.

Photo credit: Getty

Avoid chain hotels 
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This article originally appeared on GOBankingRates.com: Are Banks Open on Labor Day 2016?

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