716 is presidents day a bank holiday find out here

Presidents Day is a federal holiday celebrated annually in the United States to honor the nation’s presidents, particularly George Washington and Abraham Lincoln. It’s a day that marks the birthdays of these two influential leaders and recognizes the contributions of all U.S. presidents throughout history. But with the holiday comes a common question: Is Presidents Day a bank holiday? In this article, we’ll explore the history of Presidents Day, its impact on bank operations, and provide you with a comprehensive list of banks that are closed on this day.

What is Presidents Day?

Presidents Day, officially known as Washington’s Birthday, is a federal holiday in the United States that celebrates the birthdays of George Washington and Abraham Lincoln. The holiday was originally established in 1885 to honor George Washington, the first U.S. president, on his birthday, February 22. Over time, the holiday evolved to include the recognition of Abraham Lincoln, whose birthday falls on February 12, and eventually encompassed the celebration of all U.S. presidents.

The holiday has become a time for Americans to reflect on the leadership, achievements, and sacrifices of the nation’s presidents. It’s also an opportunity for many to enjoy a three-day weekend, as the holiday always falls on the third Monday of February. Retailers often take advantage of the extended weekend by offering sales and promotions, making it a popular time for consumers to shop for deals.

The History of Presidents Day

The origins of Presidents Day can be traced back to 1800, following the death of George Washington in 1799. His birthday, February 22, became a day of remembrance, with informal celebrations taking place across the country. In 1879, Washington’s Birthday became a federal holiday for government offices in Washington, D.C., and in 1885, it was expanded to include all federal offices nationwide.

In the late 1960s, Congress proposed the Uniform Monday Holiday Act, which sought to shift several federal holidays to Mondays, creating more three-day weekends for workers. The act, which took effect in 1971, moved Washington’s Birthday celebration to the third Monday of February. This change, combined with the proximity of Abraham Lincoln’s birthday on February 12, led to the popularization of the term “Presidents Day” and the inclusion of Lincoln in the holiday’s recognition.

When is Presidents Day Celebrated?

Presidents Day is celebrated annually on the third Monday of February. This means that the exact date of the holiday varies from year to year, but it always falls between February 15 and February 21. In 2024, Presidents Day will be observed on Monday, February 19.

The holiday is a federal holiday, which means that many government offices, post offices, and banks are closed. Some private businesses may also choose to close or operate on reduced hours. Schools often have the day off, and many retailers offer special sales and promotions to mark the occasion.

Are Banks Open on Presidents Day?

As Presidents Day is a federal holiday, most banks are closed on this day. This includes both brick-and-mortar locations and customer service call centers. ATMs and online banking services typically remain available, allowing customers to access their accounts, check balances, and make transactions.

However, there are some exceptions. For example, TD Bank, which has branches primarily on the East Coast, remains open on Presidents Day. It’s always a good idea to check with your specific bank to confirm their hours of operation on the holiday.

List of Banks Closed on Presidents Day

Here is a list of major banks that are typically closed on Presidents Day:

  • Bank of America
  • Chase
  • Citibank
  • Capital One
  • PNC Bank
  • Santander Bank
  • Truist
  • U.S. Bank
  • Wells Fargo

As mentioned earlier, TD Bank is a notable exception, remaining open on Presidents Day.

When Do Banks Reopen After Presidents Day?

Banks that are closed on Presidents Day typically reopen on the following Tuesday, resuming their normal business hours. In 2024, this means that banks will reopen on Tuesday, February 20.

It’s worth noting that some smaller, local banks or credit unions may have different schedules. If you have pressing banking needs on Presidents Day, it’s always best to contact your specific financial institution to inquire about their hours and availability.

Other Federal Bank Holidays in 2024

In addition to Presidents Day, there are several other federal holidays throughout the year during which most banks are closed. These holidays, recognized by the U.S. government, include:

  • New Year’s Day
  • Martin Luther King Jr. Day
  • Memorial Day
  • Juneteenth National Independence Day
  • Independence Day
  • Labor Day
  • Columbus Day (also known as Indigenous Peoples’ Day)
  • Veterans Day
  • Thanksgiving Day
  • Christmas Day

List of Bank Holidays in 2024

Holiday Date
New Year’s Day Monday, January 1
Martin Luther King Jr. Day Monday, January 15
Presidents Day Monday, February 19
Memorial Day Monday, May 27
Juneteenth National Independence Day Wednesday, June 19
Independence Day Thursday, July 4
Labor Day Monday, September 2
Columbus Day (Indigenous Peoples’ Day) Monday, October 14
Veterans Day Monday, November 11
Thanksgiving Day Thursday, November 28
Christmas Day Wednesday, December 25

It’s important to keep these holidays in mind when planning your banking activities throughout the year. By being aware of bank closures, you can ensure that you complete any necessary transactions or appointments in advance or plan to use alternative methods, such as online banking or ATMs, during the holidays.

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By James Altucher

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