Are banks open on MLK Day 2025? What to know before Monday

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. Considered one of the most influential figures in modern history, King is recognized across the world for his contributions in advancing equal rights for Black Americans, among many other notable accomplishments.

Born on Jan. 15, 1929, King is acknowledged annually with a federal holiday that falls on or near his birthday. This year, Martin Luther King Jr. Day falls on Monday, Jan. 20. In a rare occurrence, the holiday lands on the same day as the U.S. presidential inauguration, which hasn’t happened since 1997.

Given that MLK Day is a federal holiday, schools and government offices, including the USPS, will be closed in observance of the day. Many retailers and restaurants, however, 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 or not banks, credit unions and U.S. stock markets will be open on Monday, Jan. 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 won’t reopen until Tuesday, Jan. 21.

The U.S. stock market will also be closed on Monday, Jan. 20, 2025, reopening again Tuesday morning at 9:30 a.m. ET.

Though banks and credit unions are closed, ATMs and online banking services will still be available for transactions on Jan. 20, however transactions won’t process until the following day when banks reopen.

Even though most, if not all, financial institutions will be closed in observance of the Martin Luther King Jr. holiday, you may want to check with your local bank or credit union to confirm hours in case they differ.

Banks and credit unions closed on MLK Day

The following banks will be closed on Monday, Jan. 20, 2025:

Bank of America
Chase
Citibank
Capital One
Navy Federal Credit Union
PNC Bank
Santander Bank
State Employees’ Credit Union
TD Bank
Truist
Wells Fargo

What other holidays are banks closed in 2025?

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