Are banks open on Memorial Day 2024? What to know about holiday hours

Sophie Caldwell
Smith Collection/Gado

Whether you plan to host a potluck, take a road trip, tune in to a concert, or just spend time with family and friends, Memorial Day is sure to be an action-packed holiday weekend.

Memorial Day, which falls on May 27 this year, honors the sacrifices of the U.S. military personnel who gave their lives in service of our country.

Traditional holiday activities include commemorative concerts, local parades, and outdoor events. At 3:00 p.m. on Memorial Day, Americans pause their activities to participate in a national moment of silence in remembrance of fallen soldiers.

Many businesses close for Memorial Day, and you might find yourself out of luck at some of your local stores.

Since Memorial Day is a federal holiday, government institutions and services will be closed on Monday, including the United States Postal Service.

If you're planning to make a financial transaction on Memorial Day, it's important to check your bank's schedule for the holiday.

Here's what you need to know about bank hours on Memorial Day.

Are banks closed on Memorial Day?

Many banks and financial institutions will be closed on May 27.

A majority of banks follow the Federal Reserve System’s standard holiday schedule.

According to their website, Federal Reserve Banks and Branches will be closed on Memorial Day.

The stock market will also be closed for the federal holiday, according to the New York Stock Exchange website.

Even if a bank permits you to make a transaction on Memorial Day, it’s likely that the transaction won’t process until the next business day. However, if you need to make an emergency transaction, ATMs will remain open during the holiday.

Will banks be closed on any other days in 2024?

Federal Reserve Banks and Branches will be closed during federal holidays.

Here is a list of the remaining federal holidays in 2024:

  • Memorial Day | Monday, May 27

  • Juneteenth National Independence Day | Wednesday, June 19

  • Independence Day | Thursday, July 4

  • Labor Day | Monday, September 2

  • Columbus Day | Monday, October 14

  • Veterans Day | Monday, November 11

  • Thanksgiving Day | Thursday, November 28

  • Christmas Day | Wednesday, December 25

This article was originally published on TODAY.com

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