Are banks open on Martin Luther King Jr. Day 2025? What to know

On By Littum

Each year, the third Monday in January is set aside to honor the life and work of civil rights leader and activist, Martin Luther King, Jr. King is considered one of the most influential figures in modern history and is recognized worldwide for his contributions in promoting equal rights for black Americans, among many other notable achievements.

Born on January 15, 1929, King is recognized annually with a federal holiday that falls on or near his birthday. This year, Martin Luther King Jr. Day falls on Monday, January 20. In a rare event, the holiday falls on the same day as the US presidential inauguration, which has not happened since 1997.

Since MLK Day is a federal holiday, schools and government offices, including the USPS, will be closed for the day. However, many retailers and restaurants remain open for business, which is good news if you plan to spend the holiday shopping or crossing errands off your to-do list.

But what about financial institutions? Are banks open on Martin Luther King Jr. Day?

See below for details on whether banks, credit unions and US stock markets will be open on Monday, January 20, 2025.

Are banks open on Martin Luther King Jr. Day?

As with most federal holidays, a majority of banks and other financial institutions will be closed on Martin Luther King Jr. Day and will not reopen until Tuesday, January 21st.

The US stock market will also be closed on Monday, January 20, 2025, and will reopen on Tuesday morning at 9:30 a.m. ET.

Although banks and credit unions are closed, ATMs and online banking services will still be available for transactions on January 20, but transactions will not be processed until the following day when banks reopen.

Although most, if not all, financial institutions will be closed for the Martin Luther King Jr. holiday, you can contact your local bank or credit union to confirm hours of operation if they are different.

Banks and credit unions closed on MLK Day

The following banks will be closed on Monday 20 January 2025:

  • Bank of America
  • Hunt
  • Citibank
  • The capital
  • Navy Federal Credit Union
  • PNC Bank
  • Santander Bank
  • The Norwegian Employees’ Credit Association
  • TD Bank
  • Truist
  • Wells Fargo

What other holidays are banks closed in 2025?

There are 11 federal holidays each year, including Martin Luther King Jr. Day. Here’s a list of remaining bank holidays in 2025 so you can plan ahead.

  • President’s Day | Monday 17 February
  • memorial day | Monday, May 26
  • Juneteenth | Thursday 19 June
  • Independence Day | Friday, July 4
  • Labor Day | Monday 1 September
  • Indigenous Peoples Day | Monday, Oct. 13
  • Veterans Day | Tuesday 11 Nov
  • Thanksgiving Day | Thursday 27 Nov
  • christmas day | Thursday, December 25