When do banks process transactions? Explained

In the banking sector, there are number of days which bank operate and offer services to their customers, while some days they are locked and not open for banking services.

In the days where banks are open, bank customers can’t will have to pend any transaction they want to do except for atm transactions.

In this article I will be explaining to you when do banks process transactions and which also includes the bank holidays. Now let’s proceed to that.

when do banks process transactions

When do banks process transactions?

Banks process transactions on banking days which includes Monday to Friday and during banking hours or overnight. Banks are open for a short period of time on Saturdays and don’t open on Sundays.

Most bank process their payments during banking hours and which is 9am to 5pm, while some prefer overnight. For example, td bank do process transactions overnight compared to chase which is usually during banking hours.

If you go to the bank from Monday to Friday, the bankers will attend to your need and you can perform any transaction you want like cash or check deposit, direct deposit, money transfer, account opening, resolving bank issues on your bank account, etc.

As long as Monday to Friday is concerned, it is a business day and bank will attend to your need and offer banking services to you.


Related Posts:


What about on Saturday?

Banks don’t process transactions on Saturdays and please bear that in your mind. If you go to the bank on a Saturday to deposit a check, transfer money, cash deposit, direct deposit, resolving a bank account issue, etc.

The bank will not process the transaction until the next business day or banking day which is Monday except if there is a bank holiday making Tuesday to be the next banking day.

Bank e are open on saturdays but not all bank branches, and they are usually open from 9am in the morning until 1pm or 2pm in the afternoon.

You can go to the bank on Saturday to pay in a check or cash deposit, the bank will accept the transaction but will pend it until the next business day. Don’t expect to pay in a check or cash deposit and expect for it to be posted to the stated bank account, it won’t happen until the next business day.

What about Sunday?

On Sundays, banks are not open and doesn’t offer banking services to their customers inside the bank except for atm transactions.

For the fact that I said banks are not open and doesn’t offer banking services on Sundays doesn’t mean mobile banking and internet banking services will not function, they will function and you can transfer money from the mobile banking app or through your internet banking account.

The bank holidays

Aside from Saturdays and Sundays(weekends) that banks don’t process transactions or offer banking services to their customer’s, bank holidays also affect the banking industry.

On bank holidays, banks are open for operation and don’t offer banking services to their customers. On bank holidays, banks branches are mostly closed except for atm which will function.

Talking about bank holidays, it may feel during the weekdays and which will affect banking services. For example, a bank holiday may fall on Monday and this means Saturday, Sunday and Monday bank will not procces any transaction until the next business day which is Tuesday.

Using 2022 as an example and if you base in the United States. We have up to five bank holidays that fall on a Monday, and they are;

  • Martin Luther King Jr. Day – Mon, 17 Jan 2022
  • Memorial Day – Mon, 30 May 2022
  • Independence Day – Mon, 4 Jul 2022
  • Labor Day – Mon, 5 Sept
  • Christmas Day – Mon, 26 Dec 2022

If you go to the bank on any of these days, no one will attend to you because banks will be closed on any of these days.

Still on bank holidays, there are Banks that don’t observe some federal holiday like the TD bank  don’t observe Columbus Day which will be on October 10.

So it is proper to know if your bank observe all the federal holidays by contacting the customer service representative and inquire about their bank holiday for the year.

Below this article I’ve made a table that shows the number of days banks are open for operation which includes the federal holidays or bank holidays.

2022 Bank holidays table

Chase bank Holiday Schedule 2022
New Year’s Day — Jan. 1 Closed
Martin Luther King, Jr. Day — Jan. 17 Closed
Valentine’s Day — Feb. 14 Open
Presidents’ Day — Feb. 21 Closed
St. Patrick’s Day — March 17 Open
Memorial Day — May 30 Closed
Independence Day — July 4* Closed*
Labor Day — Sept. 5 Closed
Columbus Day — Oct. 10 Closed
Halloween — Oct. 31 Open
Veterans Day — Nov. 11 Closed
Thanksgiving Day — Nov. 24 Closed
Black Friday — Nov. 25 Open
Christmas Eve (daytime) — Dec. 24 Open (Most branches open 9 a.m. to 3 p.m.)
Christmas Day — Dec. 25 Closed

 

Wells Fargo Bank

Below are the list of Wells Fargo Bank holiday in 2022.

DAY DATE HOLIDAY
Sat Jan 01 New Year’s Day
Mon Jan 17 M L King Day
Mon Feb 21 Presidents’ Day
Mon May 30 Memorial Day
Mon Jul 04 Independence Day
Mon Sep 05 Labor Day
Mon Oct 10 Columbus Day
Fri Nov 11 Veterans Day
Thu Nov 24 Thanksgiving
Sun Dec 25 Christmas

TD Bank

Below are the list of TD bank holidays in 2022

 
Holiday
Date
New Year’s Day
Saturday, January 1
Martin Luther King, Jr. Day
Monday, January 17
Easter Sunday
Sunday, April 17
Memorial Day
Monday, May 30
Juneteenth
Sunday, June 19
Independence Day
Monday, July 4
Labor Day
Monday, September 5
Veterans Day
Friday, November 11
Thanksgiving Day
Thursday, November 24
Christmas Day
Sunday, December 25

Bank of America

Below are the list of bank of America bank holidays in 2022

DAY DATE HOLIDAY
Sat Jan 01 New Year’s Day
Mon Jan 17 M L King Day
Mon Feb 21 Presidents’ Day
Mon May 30 Memorial Day
Mon Jul 04 Independence Day
Mon Sep 05 Labor Day
Mon Oct 10 Columbus Day
Fri Nov 11 Veterans Day
Thu Nov 24 Thanksgiving
Sun Dec 25 Christmas
Mon Dec 26 Christmas Holiday

Pnc Bank

Below are the list of pnc bank holidays in 2022

Jan 1 New Year’s Day Saturday Closed
Jan 17 Martin Luther King Day Monday Closed
Feb 21 Presidents’ Day Monday Closed
April 15 Good Friday Friday Regular Hours
May 30 Memorial Day Monday Closed
Jul 4 Independence Day Monday Closed
Sep 5 Labor Day Monday Closed
Oct 10 Columbus Day Monday Closed
Nov 11 Veterans Day Friday Closed
Nov 23 Day Before Thanksgiving Wednesday Regular Hours
Nov 24 Thanksgiving Thursday Closed
Nov 25 Black Friday Friday Regular Hours
Dec 24 Christmas Eve Saturday Open
(Some locations may choose to close early).
Dec 26 Christmas Day Monday (observed) Closed
Dec 31 New Year’s Eve Saturday Open

USAA Bank

Below are the list of USAA bank holidays in 2022

Jan 1 New Year’s Day Saturday Closed
Jan 17 Martin Luther King Day Monday Closed*
Feb 21 Presidents’ Day Monday Closed*
April 15 Good Friday Friday Regular Hours
May 30 Memorial Day Monday Closed
Jul 4 Independence Day Monday Closed
Sep 5 Labor Day Monday Closed
Oct 10 Columbus Day Monday Closed*
Nov 11 Veterans Day Friday Closed*
Nov 23 Day Before Thanksgiving Wednesday Regular Hours
Nov 24 Thanksgiving Thursday Closed
Nov 25 Black Friday Friday Regular Hours
Dec 24 Christmas Eve Saturday Open
(Some locations may choose to close early).
Dec 26 Christmas Day Monday (observed) Closed
Dec 31 New Year’s Eve Saturday Open

SunTrust Bank

Below are the list of SunTrust bank holidays in 2022

Jan 1 New Year’s Day Saturday Closed
Jan 17 Martin Luther King Day Monday Closed
Feb 21 Presidents’ Day Monday Closed
April 15 Good Friday Friday Regular Hours
May 30 Memorial Day Monday Closed
Jul 4 Independence Day Monday Closed
Sep 5 Labor Day Monday Closed
Oct 10 Columbus Day Monday Closed
Nov 11 Veterans Day Friday Closed
Nov 23 Day Before Thanksgiving Wednesday Regular Hours
Nov 24 Thanksgiving Thursday Closed
Nov 25 Black Friday Friday Regular Hours
Dec 24 Christmas Eve Saturday Open
(Some locations may choose to close early).
Dec 26 Christmas Day Monday (observed) Closed
Dec 31 New Year’s Eve Saturday Open

Citi Bank

Below are the list of Citi bank holidays in 2022

Jan 1 New Year’s Day Saturday Closed
Jan 17 Martin Luther King Day Monday Closed
Feb 21 Presidents’ Day Monday Closed
April 15 Good Friday Friday Regular Hours
May 30 Memorial Day Monday Closed
Jul 4 Independence Day Monday Closed
Sep 5 Labor Day Monday Closed
Oct 10 Columbus Day Monday Closed
Nov 11 Veterans Day Friday Closed
Nov 23 Day Before Thanksgiving Wednesday Regular Hours
Nov 24 Thanksgiving Thursday Closed
Nov 25 Black Friday Friday Regular Hours
Dec 24 Christmas Eve Saturday Open
(Some locations may choose to close early).
Dec 26 Christmas Day Monday (observed) Closed
Dec 31 New Year’s Eve Saturday Open

Capital one Bank

Below are the list of Capital one bank holidays in 2022

Jan 1 New Year’s Day Saturday Closed
Jan 17 Martin Luther King Day Monday Closed
Feb 21 Presidents’ Day Monday Closed
April 15 Good Friday Friday Regular Hours
May 30 Memorial Day Monday Closed
Jul 4 Independence Day Monday Closed
Sep 5 Labor Day Monday Closed
Oct 10 Columbus Day Monday Closed
Nov 11 Veterans Day Friday Closed
Nov 23 Day Before Thanksgiving Wednesday Regular Hours
Nov 24 Thanksgiving Thursday Closed
Nov 25 Black Friday Friday Regular Hours
Dec 24 Christmas Eve Saturday Open
(Some locations may choose to close early).
Dec 26 Christmas Day Monday (observed) Closed
Dec 31 New Year’s Eve Saturday Open

Huntington Bank

Below are the list of Huntington Bank holidays in 2022

Jan 1 New Year’s Day Saturday Closed
Jan 17 Martin Luther King Day Monday Closed
Feb 21 Presidents’ Day Monday Closed
April 15 Good Friday Friday Regular Hours
May 30 Memorial Day Monday Closed
Jul 4 Independence Day Monday Closed
Sep 5 Labor Day Monday Closed
Oct 10 Columbus Day Monday Closed
Nov 11 Veterans Day Friday Closed
Nov 23 Day Before Thanksgiving Wednesday Regular Hours
Nov 24 Thanksgiving Thursday Closed
Nov 25 Black Friday Friday Regular Hours
Dec 24 Christmas Eve Saturday Open
(Some locations may choose to close early).
Dec 26 Christmas Day Monday (observed) Closed
Dec 31 New Year’s Eve Saturday Open

Related Questions

When does td bank process transactions?

TD bank process all transactions to your accounts overnight following each business day. The overnight process will be a Pending transactions to Posted transactions and clears any checks or ACHs (accounts payable by cheque) that are presented that day.

According to the bank;

For example, if you make a transaction on your account on a Saturday, this process would happen on Monday night since it is the next business day and becomes a posted transaction on Tuesday.

However, if Monday happens to be a holiday, the next business day is Tuesday. In this case, that deposit or payment will become a posted transaction on Wednesday.

Some debit and credit transactions can take longer to become posted transactions based on merchant processing.

When does bank of america process transactions?

Bank of america do process transactions during banking hours which is 9am to 5pm and the transaction will be posted to the stated account the same day or the next banking day.

When does bank of america process ach

Bank of america process ACH debits as received in business accounts around 2:30 p.m. and 5 p.m. Eastern time.

When do ach transfers clear?

ACH transfer usually clear the same day day the next one to two bussines day. ACH debit transactions must be processed by the next business day. These timelines are based on rules from the National Automated Clearing House Association, or NACHA, the trade group that oversees the network.

When do banks process deposits?

Banks process deposits on same business day or banking day, and also during banking hours whicg is usually 9am to 5pm depending on when the deposit was made.

Talking about when do banks process transactions, kindly note that banks do process transactions from Monday to Friday during banking hours or overnight just like the TD bank.

 

Similar Posts

Leave a Reply

Your email address will not be published. Required fields are marked *