Most banking customers doubt whether their banks on New Year’s Eve and New Year’s Day will be open at all. Landing at the end of a workweek, the end-of-the-year holidays are sure to affect your bank hours.
New Year’s Eve is not only a night of celebration, but it’s also the last business day of the year, which means you need to get your financial tasks completed by this day.
Here are the banks that will be open during New Year’s Day and the holiday bank hours for the biggest banks in America.
|Banks||New Year’s Eve||New Year Day|
|Bank of America||Regular hours||Closed|
|Wells Fargo||Regular hours||Closed|
|U.S. Bank||Regular hours||Closed|
|Capital One||Regular hours||Closed|
|PNC Bank||Closes at 12 p.m. (supermarket branches may vary)||Closed (includes supermarket branches)|
|TD Bank||Closes at 6 p.m.||Open|
|SunTrust Bank||Regular hours||Closed (includes in-store locations)|
|Fifth Third Bank||Regular hours||Closed|
|Regions Bank||Closes at 4 p.m.||Closed|
|Union Bank||Regular hours||Closed|
|BMO Harris Bank||Closes at 3 p.m.||Closed|
|M&T Bank||Closes at 3 p.m.||Closed|
|KeyBank||Closes at 3 p.m.||Closed|
|Citizens Bank||Closes at 2 p.m.||Closed|
|BBVA Compass Bank||Regular hours||Closed|
|Santander Bank||Closes at 3 p.m.||Closed|
New Year’s Holiday Bank Hours
As a federal holiday, all of the largest banks in the U.S. will be closed on. This includes the in-store and supermarket branches of PNC and SunTrust Bank.
All banks will remain open on New Year’s Eve, with half — including Bank of America, Chase, Citibank, U.S. Bank, BB&T and SunTrust Bank — resuming their regular schedule.
The other half of the banks — including Wells Fargo, PNC Bank, Capital One and TD Bank — will close earlier, between 2 p.m. to 6 p.m. It is important to remember that the holiday bank schedule may or may not affect the in-store and supermarket locations.
In the case of PNC Bank, some of their supermarket locations will resume their normal hours, despite the fact that their bank branches are expected to close by 4 p.m. on New Year’s Eve.
These bank hours may not apply to every single branch of our bank. Make sure to call ahead to find out the exact holiday schedule for your local branch or in-store locations.
What Does it Mean When Your Bank is Closed?
Regardless of whether or not your bank is open, banking transactions will not be processed on federal holidays (like New Year’s Day).
New Year’s Eve is not a federal holiday, which means all the checks that are deposited on this day before the cut-off time will be processed as usual.
Generally, checks take one business day to be processed but since the next day is New Year’s Day, the deposits will not be processed. This means it will not be processed until at least Monday.
Therefore, it will take 3-4 days (including the holiday and the weekend) for your deposit to clear.
How to Access Your Money if Your Bank is Closed
Modern marvels such as online bankig and ATM deposits allow you to access your funds even if your bank is closed. Besides being open late — or 24/7 in some cases — many ATMs now have the capacity to deposit your checks.
This thereby providing you funds that you can then withdraw. Many bank branches even include drive-thru ATMs that are open even when the bank itself is closed.
Using a money order can also be an option for accessing your own funds on the days that your bank is closed. You can also write, endorse and cash in a money order to yourself.
The trick is finding a check-cashing place that stays open long enough for you to complete the transaction. Moneytree, a check cashing service, has select branches open on the holidays.
2021 Bank Holidays
Start off New Year’s Day right by penning this holiday schedule into your calendar.
|2020 Bank Holidays|
|Martin Luther King, Jr. Day||Jan. 20|
|Presidents Day||Feb. 17|
|Memorial Day||May 25|
|Independence Day||July 4|
|Labor Day||Sept. 7|
|Indigenous Peoples Day||Oct. 12|
|Veterans Day||Nov. 11|
|Thanksgiving Day||Nov. 26|
|Christmas Day||Dec. 25|
Every day listed here is a federal holiday, which means your bank will be closed on that day. Always do your due diligence, however, and check your local bank hours to see if this is the case.
The stock market will also be closed. On New Year’s Eve, the government will open as usual. It will be half days at the stock market, as it will close at 1 p.m. EST.
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