Do banks process payments on bank holidays? Explained
When it comes to bank holiday or the federal holiday, banks and other financial institutions are mostly closed until the next banking day.
Now in the case where you made a transaction late in the day and which the next day is a bank holiday, do you think the bank will process your transaction on that very day? This is what this article will explain to you.
If at all do banks process payments on bank holidays.
Now let’s proceed into the post.
Do banks process payments on bank holidays?
Banks don’t process payments on bank holidays as every financial institution both bank and non bank are mostly closed and not open for operation during bank holidays or federal holidays.
Supposed you went to the bank on Monday to make a payment or transaction right inside the bank and which they are almost closed for the day, the next day is a bank holiday, the bank will process your payment that very Monday.
The reason why the bank will process your payment is because during bank holidays or federal holidays ACH are closed and this will prohibit any bank from carrying out transactions.
Once a bank customer service representative or a banker accepts your payment or transaction, he or she will make sure to finish up the transaction before they are closed for the day and every transaction has been posted.
However, if I’m the case whereby the transaction was completed, you will have to wait till the next banking day and which will be on Wednesday.
Talking about bank holidays, not all bank do observe all federal holidays as I’m very sure that TD bank don’t observe Columbus day. On Columbus day, TD bank is very much open to attend to their customers and offer banking services from 9am in the morning until 5pm in the evening.
Still on TD bank opening on Columbus day and which is a federal holiday, the bank will accept cash deposits, direct deposit, check deposits or any payment but the truth is that it won’t be processed until the next banking day.
If you are depositing check or making a direct deposit on TD bank during Columbus day which the bank don’t observe, be rest assured that the transaction will have to wait until the next banking day simply because ACH are not open to finalize the transaction as the transaction won’t be posted.
However, you can go to the bank and perform any transaction that wouldn’t involve paying cash into an account or direct deposit. As long as that very day is is a federal holiday, the transaction won’t be posted or processed.
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Let’s take a look at banks and the bank holidays they will observe in 2022.
2022 Bank holidays
In case you don’t understand what a bank holiday means, it simply means a federal holiday which all the financial institutions and other sectors in the country are not open for banking activities.
| 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 |
Do ach payments process on holidays?
Ach don’t process payments on holidays but rather during business days. Any direct deposit made during bank holiday or federal holiday will have to wait until the next business day.
As long as you are making a cash deposit or direct deposit during weekdays or bank holiday, it won’t be processed simply because ACH don’t operate on weekends or on a bank or federal holiday.
Will banks process transactions on christmas eve
Banks do Transactions on Christmas eve but the usually close too early.
If you are to make a transaction on Christmas eve, then you have to go to the bank very earl or do it very early because all banks close too early on Christmas eve.
Talking about do banks process payments on bank holidays, kindly note that payments like direct deposit won’t be processed on a bank holiday because of ach are not open, and it will be processed on the next banking day or business day.
