Things get so busy during the holidays. The days are short and they are jam packed with activities. Yes, even in 2020. Therefore, you might forget to take care of some of the things that are on your To Do list. Banking might be one of those things. Before you know it, Christmas Day is here, and the weekend looms ahead, and you haven’t hit the bank yet. Are banks open on Christmas Day?
Christmas Day is a Federal Holiday
There are several federal holidays throughout the year. These holidays are also knowns as bank holidays. In other words, these are days when a variety of places shut down, including federal buildings and banks. Christmas is one of the federal holidays. So, naturally, many places will close for Christmas Day in recognition of the holiday. Banks are among those places.
Banks Close for Christmas
Just to reiterate, banks will not be open on Christmas Day. They allow their employees to take that time off to spend the holidays with their families. Therefore, your bank won’t be open on Friday, December 25, 2020. If you have important banking tasks to take care of, then you should make sure to get that done before Christmas Day.
Since Christmas is on a Friday, your bank might not be open again until Monday, December 28th, 2020. Some banks are open on Saturdays. Very few banks are open on Sundays. So you could get lucky and be able to visit your bank on the Saturday after Christmas. But don’t chance it if you really need to go to the bank. Get there before Christmas Day.
Are Banks Open on Christmas Eve?
Banks do not close for Christmas Eve. After all, Christmas Eve isn’t a federal holiday. However, many banks change their store hours in recognition of the holiday. Banks may close as early as noon on Thursday, December 24th, 2020. Or they may be open until 2 or 3 or even their regular closing time later in the day. Each bank branch is different, so you’ll have to check with yours in advance to be certain.
That said, if you know that you need to get to the bank on Christmas Eve, then you should do so as close to the bank’s opening hours as possible. And if you can get your banking done even earlier in the week, so that you don’t need to worry about limited store hours on Christmas Eve, then that’s even better.
Some Banking Services Are Accessible on Christmas
Even though banks close for Christmas, there are certain tasks that you can still complete. For example, ATM machines won’t close for the holiday. Therefore, you can deposit or withdraw money or perform any other ATM machine tasks that you usually do. Likewise, the Internet doesn’t close for the holiday, so you can do online banking tasks. That said, deposits and payments might not clear until the Monday following Christmas.
Credit Unions and Christmas Day
Credit unions differ a bit from banks. Therefore, they don’t always maintain the same hours. However, credit unions typically close for Christmas as well. You should check with your specific credit union to find out what the holiday hours are on and around Christmas Eve.
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