When it comes to business days in the banking sector, we have Mondays to Fridays as they are called weekdays. In these number of days banks are open for operation and which the offer banking services to their customers.
When it comes to bank offering services on weekends, the case is quite different compared to during weekdays and this leads us to the question of the day.
Do bank transactions go through on Saturday?
Bank transactions don’t go through on saturday as any transaction made on saturday will not be processed until the next banking day or business day.
For example, you went to the bank to make a cash deposit or to deposit a check into a bank account on a Saturday. The cash you deposited into your account on Saturday will not be posted or processed until the next business day which is usually on Monday.
This goes to any other transaction made in the bank on saturday.
No transaction will be processed until the next business day and mind you banks don’t open on Sundays.
Talking about do bank transactions go through on Saturday, kindly note that not all banks are opened for operation on Saturdays though one’s location matters a lot.
Again not all branches of a bank do open on saturdays as only key areas or or business areas bank branches tends to open on saturdays.
As transactions made in the bank on Saturdays don’t go through, the question will be why it so.
Why bank transactions don’t go through on Saturday
The main reason why transactions don’t go through on Saturdays is because not all financial institutions be it bank and non bank are open for operation.
Most financial institutions are closed on weekends or the usually open for a short period of time.
In the United States, the ACH is not open on saturdays and transactions like transfer or direct deposit cannot be processed without the ACH. Because of this, banks cannot process transactions or have a direct deposit posted to the stated account on saturday or weekends except if the transaction was made on Friday or during weekdays.
As Saturday and Sunday is a resting day or probably a day off for all government institutions and some part of the private sectors, this also hinder banks from operating fully on weekends or probably on saturday as banks are not open on Sundays.
So any transaction you made on Saturday will have to wait until the next banking day which is usually on Monday.
However, a federal holiday or public holiday might hinder banks from opening on Monday and that very Monday will be like Saturday or I will say Sunday.
And the talking about the bank holiday which is very common across the world and 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
On this federal holiday or bank holiday, banks are not open for operation and they are considered like weekends or probably like Sunday where banks don’t open at all.
Do bank transactions go through on public holidays?
The answer is no. During public holiday banks and other financial institutions are completely closed as banks observe public or federal holidays.
However, the likes of TD bank don’t observe all federal holiday and this is the Columbus Federal holiday. Aside from TD bank, most banks in the United States are closed on Columbus day.
Banking services available on weekends
Aside from the fact that transactions made on saturday will not be processed or posted to the stated account, there are transactions that will work on weekends.
1. Money transfer using mobile app or internet banking
If you want to send money to someone on weekends or on a Saturday, I don’t recommend going to the bank even if they are open for operation. I recommend you to use the bank mobile app or internet banking services to transfer the money from your bank account is to the recipient bank account.
Thie definitely work even on a Sunday.
The only restriction here is that there are certain amount of money which a bank customer can transfer in a day, and that limit cannot be exceeded.
Instead of depositing the cash into the bank on saturday, kindly transfer the fund using the bank mobile app or internet banking if you still have available funds in your bank account.
Mobile banking services and internet banking services are 24/7 available to bank customers.
2. Atm withdrawals
As atm withdrawal is 24/7 available to bank customers, during weekends you can to any atm around you and withdraw cash without any restriction even on Sunday.
If you want to make a bank transaction on a Saturday, kindly know that the transaction will not be processed or posted to the stated account until the next banking day except if banking holiday(federal holiday) falls on a weekday.