Columbus Day, October 14, 2024, is a federal holiday viewed differently in various quarters of America. While most businesses remain open, banks seem to have their way around this. This post would cover which banks are open, what services shall be available, and the place of self-service ATMs on this day.
Bank closures on Columbus Day
Most major banks will be closed on Columbus Day, including the following:
The aforementioned all usually follow federal holidays and, therefore, have no in-person services on that day. However, not all fit this category.
Banks open on Columbus Day
Some banks will stay open on Columbus Day. Examples include:
These banks very often have customers that might have a need for banking services over the holiday period. They will do well to check the hours of operation at their local branch since hours may vary.
ATM self-service and digital banking
While most bank branches will shut their doors, one can still access his or her money through self-service ATMs. These machines remain operational and enable users to:
- Withdraw cash
- Check balances
- Deposit checks (depending on the ATM)
Besides the above services, digital banking services will be fully functional. Clients can do all kinds of transactions from their respective bank’s mobile apps and websites by paying bills, transferring money between accounts, checking account statements, etc. However, clients should keep in mind that even though these above-mentioned services are available for them, the transactions they do on Columbus Day may not be processed and might take time until the next day because the Federal Reserve is closed.
Transaction processing times
Remember, one important point about federal holidays when it comes to banking is that processing may be longer than usual. Electronic transfers and bill payments take place through the Federal Reserve, which is closed on holidays. Thus,
- Online and mobile banking initiated transactions will not begin processing until the next business day.
As an example, if you deposit a check or make a transfer on Columbus Day, the processing time will be counted from Tuesday, October 15.
The effect of holidays on a local area
In certain states and municipalities, Columbus Day is sometimes referred to as Indigenous Peoples’ Day. This affects local banking differently because this would be more celebrated than Columbus Day in the local area. Some banks remain open even in areas where Indigenous Peoples’ Day is observed rather than Columbus Day.
Planning ahead
To those people relying on banks on Columbus Day, planning ahead of it is a crucial activity. A few steps for planning include:
- Check bank hours: Always know about your bank’s operational and closing hours on specific days before going there. It is usually available at the bank’s official website or at their customer helpline.
- Utilize digital services: Avail online banking facilities for bill payments and transferring funds as far as possible to avoid delays.
While most organizations will shut down on Columbus day, it might interest you to know, Restaurants open on Columbus Day 2024 in the US: What to expect at McDonald’s Starbucks, Taco Bell, Wendy’s…
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