Are Banks Open on Martin Luther King Day 2021?

MLK Day 2021 takes place on Monday 20 January 2021. It is a day for honoring the 1968 assassinated activist and minister. Will banks be open on MLK Day? Read on!

Are Banks Open on Martin Luther King Day 2020?

It is the second federal holiday of the year and, because it falls so close to the new year, often gets forgotten until it is upon us.

When a holiday like this sneaks up on you-you may find yourself confused as to what’s open and what’s closed. Banks typically follow the federal holiday schedule but are banks open on Martin Luther King Jr. Day?

MLK Bank Holiday Schedule

This year, the majority of banks, including Chase, Wells Fargo, and Bank of America, plan to remain closed for Martin Luther King Day.

Be sure to check with your local branch to find out what they plan to do for the holidays.

There is good news for SunTrust bank customers, as their supermarket locations will likely have normal hours, despite the fact that all of their bank branches will remain closed.

Make sure to call ahead to verify the exact holiday schedule for your local branch or in-store location.

Bank Martin Luther King Jr. Day
Bank of America Closed
Chase Closed
Wells Fargo Closed
Citibank Closed
U.S. Bank Closed
Capital One Closed
PNC Bank Closed
TD Bank Closed
BB&T Closed
SunTrust Closed (excluding in-store locations)

TD Bank has occasionally remained open on minor federal holidays (such as MLK Day) in the past, but the TD site reports that most branches are closed this year. “We’re closed on Martin Luther King Jr. Day, January 20.

But you can still bank with us right here. Or call 1-888-751-9000,” the website states.

Like banks, most credit unions are closed on Martin Luther King Jr. Day. Although credit unions don’t explicitly follow the bank holiday schedule, most close on federal holidays.

The only credit unions that will be open on Martin Luther King Jr. Day are those located within retail locations.

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Banking Services Available on MLK Day


If you need to do any banking on January 20, you still have some options. As mentioned above, banks within retail locations may be open.

And even if you’re not lucky enough to have a bank that is open, some services are available 24 hours a day, even on holidays.

Basic banking transactions like deposits, withdrawals, and transfers can be done through your bank’s website, mobile app, or ATM. In fact, most people don’t need to visit the bank at all anymore.

Each of these is available 24 hours a day, seven days a week. For the most part, they are available 365 days a year as well (though scheduled maintenance may hinder that at times).

Keep in mind, some banks will put a hold on deposits and may take longer to process transactions over the holiday. If you need the money to post right away, you may have a problem getting access to your newly deposited cash on MLK Day.

Worse comes to worst, you can always cash a check at a grocery store or other check-cashing facility if you need the money immediately.

Martin Luther King, Jr. Day Bank Deposits

Also, because Martin Luther King, Jr. The day is a federal holiday, this can delay when bank deposits are credited to your account, depending on your bank’s holiday deposit schedule.

This includes deposits made by customers, payroll deposits, and other direct deposits such as Supplemental Security

Income (SSI) deposits that will be made on Martin Luther King, Jr. Day, Monday, January 20, 2020, but may not be credited to some bank accounts until January 21, 2020, or later.

Bank Without a Branch

If you have financial errands to make, be sure to make a trip to the bank before the three-day weekend, especially if you need the help of a banker teller.

Remember, you can always take care of basic banking needs through online and mobile banking, and if you need cash, you will have full access to ATMs all throughout the holiday.

Also, you can call your bank’s customer service phone number if you have any questions that need to be addressed.

Banks Are Closed on Most Federal Holidays, Including MLK Day, Presidents’ Day, Columbus Day & Veterans Day

When it comes to holidays that fall on a weekend, the Federal Reserve website states, “For holidays falling on Saturday, Federal Reserve Banks and Branches will be open the preceding Friday; however, the Board of Governors will be closed.

For holidays falling on Sunday, all Federal Reserve offices will be closed the following Monday.”

The Federal Reserve Bank observes the following holidays:

  • New Year’s Day
  • Martin Luther King Jr. Day
  • Presidents’ Day/Washington’s Birthday
  • Memorial Day
  • Independence Day
  • Labor Day
  • Columbus Day
  • Veterans Day
  • Thanksgiving Day
  • Christmas Day

MLK Day always falls on the third Monday of January each year and it is a federal holiday, which honors the birthday of Martin Luther King Jr. (although his actual birthday is January 15, 1929).

Other services often affected by MLK Day include mail delivery, garbage pickup, and most government services; the DMV and most county libraries, as well as local, state, and federal courts are all closed, although national parks typically remain open.

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