Major US Banks Close for 24 Hours on Martin Luther King Jr. Day

Several major banks in the United States, including Chase Bank, Wells Fargo, Citibank, and Bank of America, will close their branches for 24 hours on January 19, 2024. This closure is in observance of Martin Luther King Jr. Day, a federal holiday dedicated to honoring the legacy of the civil rights leader.

The temporary closure will affect all 5,300 Chase locations nationwide. Branches will resume normal operations on January 20, 2024, reopening at 9 a.m. During this period, any pending transactions will be processed as soon as banking systems return to full functionality.

Available and Unavailable Services During Closure

While in-person services will be halted, online and mobile banking functionalities will remain operational. Customers can still access balance checks, fund transfers, and check deposits throughout the 24-hour closure. It is important to note that transactions initiated on a federal holiday may not be completed until the bank reopens for business the following day.

Time-sensitive operations, such as Automated Clearing House (ACH) transfers, wire transfers, and bill payments, may experience delays. Additionally, check deposits requiring manual review will only be processed starting from January 20.

In-person services that will not be available during the closure include teller transactions, cash withdrawals from branches, new account openings, identity verification, and consultations for loans and mortgages. Notary services will also be unavailable.

Future Bank Closures on Federal Holidays

Scheduled closures for federal holidays are standard practice across the banking industry. Banks typically announce their holiday schedules in advance on their websites. In addition to Martin Luther King Jr. Day, Chase Bank observes several other federal holidays, including New Year’s Day, Presidents’ Day, Memorial Day, Labor Day, Veterans Day, and Christmas Day.

Customers are encouraged to plan their banking needs accordingly, taking into account these closures to ensure smooth financial transactions.