Are Banks Open on President’s Day 2021? Here is everything you need to know about banks

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Are Banks Open on President’s Day 2021? Here is everything you need to know about banks
Are Banks Open on President’s Day 2021? Here is everything you need to know about banks

Monday, February 15, 2021 is President’s Day. Many of us like to get tasks such as banking done on Mondays. And it can be hard to remember which holidays banks close for. So you might find yourself wondering, “are banks open on President’s Day 2021?”

When Is President’s Day

President’s Day is the third Monday in February each year. Historically, it used to always be on February 22nd, in commemoration of George Washington’s Birthday. However, the day later came to honor all past and current presidents. At that time, the date shifted. This was due in part to a desire for a three-day weekend holiday. So, now, President’s Day is that third February Monday. Since February 1st was on a Monday this year, President’s Day is earlier than usual. It’s 2/15/2021.

President’s Day Is a Federal Holiday

There are typically ten federal holidays per year. Although in 2021, there are actually 11 observed holidays because New Year’s Day 2022 will be observed on New Year’s Eve. In any case, these holidays, also called bank holidays, are the times of the year when federal government services shut down in recognition of particular events.

President’s Day is a federal holiday. Therefore, as with other federal holidays, services will close down. The idea is to recognize the contributions of our presidents. But whether or not you’re feeling patriotic, you’ll want to know what’s open and closed. On federal holidays, services that close include the stock market, post offices, and yes – banks.

The following banks are scheduled to be closed on Presidents Day, according to Banks.org.

Bank of America
Capital One Bank
Chase
Citibank
PNC Bank
Santander Bank
Wells Fargo

There is only one major bank that is scheduled to stay open on Presidents Day:

TD Bank

So the answer to that question is: no, banks are not open on President’s Day 2021. All bank will close for the holiday. Likewise, credit unions are closed for President’s Day 2021. Therefore, if you have any banking to do, then you’ll want to make sure that you get it complete in advance of the three day weekend.

If you use a bank branch that is open on Saturdays, then your branch should have regular hours on Saturday, February 13th, 2021. If your bank isn’t open on weekends, then you’ll want to complete all banking activities by close of day on Friday, February 12th. Otherwise, you’re going to have to wait until Tuesday, February 16th, 2021 for banks to re-open. They will resume normal working hours at that time.

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