As Martin Luther King Jr. Day approaches, many people wonder about the availability of banking services. If you’re planning to visit your local branch, you’ll need to know: are banks closed on MLK Jr. Day? The answer is yes, banks are indeed closed on Martin Luther King Jr. Day, as it is a federal holiday.
Martin Luther King Jr. Day, often simply referred to as MLK Day, is a significant federal holiday in the United States. It officially became a federal holiday in 1983, thanks to legislation signed by President Ronald Reagan. However, it wasn’t officially observed until three years later, and it took until the year 2000 for all 50 states to formally recognize MLK Day. This holiday marks a crucial moment for reflection on the life and legacy of Dr. King and the ongoing pursuit of civil rights and equality.
This holiday creates a three-day weekend for many and is the second bank holiday of the year, following New Year’s Day on January 1st. It’s important to note that while the actual birthday of the Reverend Martin Luther King Jr. is on January 15th, the federal holiday is observed on the third Monday of January each year. This means the specific date of MLK Day shifts annually, but it always falls on that Monday in January.
U.S. Bank Holidays 2025 Schedule
Beyond bank branches, the closure extends to financial markets as well. For those asking, “is the stock market open on Martin Luther King Day?,” the answer is typically no. Stock markets, like banks, observe MLK Day as a holiday. Similarly, bond markets also close for the day, giving bond traders a three-day weekend as well. So, if you were planning any in-person banking transactions or stock market moves on MLK Day, it’s important to adjust your schedule.
While physical bank locations will be closed, customers can still access some banking services online. Most banks offer online and mobile banking platforms that remain operational even on holidays. You can typically check balances, transfer funds, and conduct other routine transactions through these digital channels. However, services requiring in-person interaction or processing may be unavailable until the next business day. Keep in mind that while ATMs may be available for cash withdrawals and deposits, they might have limited services or availability depending on location and maintenance schedules.
As you plan for the MLK Day three-day weekend, remember that this holiday is more than just a day off. It’s an opportunity to reflect on Dr. King’s immense contributions to the fight for civil rights and social justice. While banks and markets are closed, taking time to learn about and honor his legacy is a meaningful way to spend the day.
Looking ahead, it’s useful to be aware of the full schedule of bank holidays for 2025. Knowing these dates can help you plan your financial activities throughout the year, avoiding any last-minute surprises when banks are closed. Below is a table outlining the US bank holidays for 2025, including Martin Luther King Jr. Day and other important federal holidays.
2025 Bank Holidays Schedule
| Date | Day | Holiday |
|---|---|---|
| January 1 | Wednesday | New Year’s Day |
| January 20 | Monday | Martin Luther King, Jr. Day |
| February 17 | Monday | Presidents’ Day/Washington’s Birthday |
| May 26 | Monday | Memorial Day |
| June 19 | Thursday | Juneteenth National Independence Day |
| July 4 | Friday | Independence Day |
| September 1 | Monday | Labor Day |
| October 13 | Monday | Columbus Day/Indigenous Peoples’ Day |
| November 11 | Tuesday | Veterans Day |
| November 27 | Thursday | Thanksgiving Day |
| December 25 | Thursday | Christmas Day |
Note: This schedule is based on the Federal Reserve’s recommended bank holiday schedule and is subject to possible changes.
Understanding which days banks are closed, like Martin Luther King Jr. Day, allows for better financial planning and ensures you can access banking services when you need them. Remember to utilize online and mobile banking options for basic needs on bank holidays and plan ahead for any transactions requiring in-person services.
