725 is president s day a bank holiday find out here

Presidents’ Day, also known as Washington’s Birthday, is a federal holiday in the United States that honors the nation’s past presidents, particularly George Washington and Abraham Lincoln. While the holiday provides a much-needed break for many Americans, it also raises questions about what institutions and services are available on this day. One common question is: Is Presidents’ Day a bank holiday? In this article, we’ll explore the answer to that question and provide you with all the information you need to plan your activities on this patriotic holiday.

What is Presidents’ Day?

Presidents’ Day is a federal holiday celebrated on the third Monday of February each year. The holiday was originally established in 1885 to honor George Washington’s birthday, which falls on February 22. Over time, the holiday has evolved to commemorate all U.S. presidents, past and present.

The holiday was moved to the third Monday in February as part of the Uniform Monday Holiday Act, which took effect in 1971. This change was designed to create more three-day weekends for workers and to standardize the celebration of Washington’s birthday across the country.

Origin and History of Presidents’ Day

The origins of Presidents’ Day can be traced back to the late 18th century. Following George Washington’s death in 1799, his birthday became an unofficial day of remembrance. In 1879, Congress declared February 22 a federal holiday in Washington’s honor.

In the 1960s, Congress proposed a measure known as the Uniform Monday Holiday Act. This law sought to shift several federal holidays to Mondays, thereby creating more three-day weekends for the nation’s workers. The Act also included a provision to combine the celebration of Washington’s birthday with Abraham Lincoln’s birthday, which falls on February 12. The resulting holiday was eventually renamed Presidents’ Day and was officially standardized as the third Monday in February.

When is Presidents’ Day Celebrated?

Presidents’ Day always falls on the third Monday in February. This means that the exact date of the holiday changes from year to year. Here are the dates for the next few years:

  • 2023: February 20
  • 2024: February 19
  • 2025: February 17

In 2022, Presidents’ Day fell on February 21. The holiday will not fall on this date again until 2033.

Are Banks Open on Presidents’ Day?

Now, let’s address the main question: Are banks open on Presidents’ Day? The short answer is no. Presidents’ Day is one of the ten federal holidays recognized by the Federal Reserve System, which means that most banks are closed on this day.

Bank Holiday Status for Presidents’ Day

The vast majority of banks, including all Federal Reserve Banks, are closed on Presidents’ Day. This means that you won’t be able to visit your local bank branch to conduct transactions or speak with a banker.

However, there are a few exceptions to this rule. Some banks, such as TD Bank, choose to remain open on Presidents’ Day. If you’re unsure whether your bank is open, it’s best to check their website or call customer service for more information.

Credit unions typically follow the same holiday schedule as banks, so most credit unions will also be closed on Presidents’ Day.

Online and ATM Banking Availability

Although physical bank branches are closed on Presidents’ Day, you can still access your accounts through online banking and mobile apps. These digital platforms allow you to check your balance, transfer funds, pay bills, and perform other basic banking tasks from the comfort of your home.

Additionally, ATMs will remain accessible on Presidents’ Day. You can withdraw cash, check your balance, and make deposits at most ATMs, even when the bank is closed. Just keep in mind that transactions made on a bank holiday may not be processed until the next business day.

What’s Closed on Presidents’ Day?

Presidents’ Day is a federal holiday, which means that many government offices and institutions are closed. Here’s a breakdown of what you can expect to be closed on this day:

Government Offices and Services

All federal offices, including post offices, are closed on Presidents’ Day. Many state and local government offices, such as the DMV, are also closed. However, the exact closures vary by state, so it’s best to check with your local government for more information.

Schools and Universities

Most public schools are closed on Presidents’ Day, giving students and teachers a three-day weekend. However, some private schools and universities may choose to remain open or have different holiday schedules, so it’s essential to check with your specific institution.

Financial Markets and Post Office

The stock market, including the New York Stock Exchange (NYSE) and NASDAQ, is closed on Presidents’ Day. Bond markets are also closed.

As mentioned earlier, the United States Postal Service (USPS) is closed on Presidents’ Day, and no mail will be delivered.

What’s Open on Presidents’ Day?

While many institutions are closed on Presidents’ Day, there are still plenty of businesses and services that remain open. Here are some examples:

Retail Stores and Restaurants

Most retail stores, such as Walmart, Target, and Costco, are open on Presidents’ Day. In fact, many stores offer special Presidents’ Day sales and discounts to attract customers on their day off.

Restaurants and supermarkets are also typically open on Presidents’ Day, though some may have limited hours or special menus.

Courier Services and Delivery

While the USPS is closed on Presidents’ Day, some private courier services remain open. For example, UPS is open on Presidents’ Day, though UPS Express Critical service is unavailable. FedEx Office and FedEx Custom Critical are open, while FedEx Ground and FedEx Home Delivery are operating with modified service.

How to Celebrate Presidents’ Day

If you have the day off on Presidents’ Day, there are many ways to celebrate and honor the legacy of our nation’s presidents. Here are a few ideas:

Traditions and Activities

One popular way to celebrate Presidents’ Day is to attend patriotic events or visit historical sites related to U.S. presidents. Many cities and towns host parades, ceremonies, and reenactments on this day.

You can also take advantage of Presidents’ Day sales to score some great deals on everything from clothing to electronics to home goods.

For a more low-key celebration, consider baking a cherry pie, which is a traditional dessert associated with George Washington. Or, spend some time learning about U.S. history and the lives of our presidents through books, documentaries, or educational programs.

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By James Altucher

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