Martin Luther King Day 2021

Banks opening hours on Martin Luther King Jr Day: Chase, Wells Fargo, Citibank

Martin Luther King Day on 18 January is a federal holiday, which isn't a business day at national banks, but you could still manage certain transactions.

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Banks opening hours on Martin Luther King Jr Day: Chase, Wells Fargo, Citibank
DANIEL SLIM AFP

Monday 18 January, or Martin Luther King Jr. Day is a federal holiday, meaning that the central bank, the Federal Reserve won’t be open, therefore national banks won’t be either. But most ATM’s will still be working.

It’s important to remember that regardless of whether or not your bank is open, banking transactions will not be processed on this day.

What banking transactions can I make on MLK Day 2021?

Even if your bank branch is closed on Monday 18 January, there are a variety of transactions that you can still take care of. Many ATMs accept deposits, and you can always withdrawal cash or check balances at ATMs. As long as your preferred ATM isn’t locked inside the building, you may still be able to handle those tasks.

Also online banking services will remain accessible. For instance you can deposit a check through your bank’s mobile app and schedule bill-paying services, transfers and more. However, most of these services may not fully process until the business day or two after the holiday.

Making a deposit and recurring payments on MLK Day 2021

If you made a deposit in-branch last week, due to MLK day it could take up to six days including the holiday and weekends, for your deposit to become available.If your bank is open, you can still make the deposit on MLK Day, but the transaction will not be processed until the day after, on 19 January.

In general, recurring payments that occur on a weekend or federal holiday should have been scheduled for the last business day prior to the weekend or federal holiday.The cut-off times for processing deposits and payments before a federal holiday vary between banks and even among the different branches, so it’s best to contact yours directly if you’re unsure.

National banks closed on Martin Luther King Day 2021

  • Bank of America: Closed
  • Chase: Closed
  • Wells Fargo: Closed
  • Citibank: Closed
  • U.S. Bank: Closed
  • Capital One: Closed
  • PNC Bank: Closed
  • TD Bank: Closed
  • BB&T: Closed
  • SunTrust: Closed (excluding in-store locations)

Other federal bank holidays observed in 2021

  • Washington's Birthday: February 15
  • Memorial Day: May 31
  • Independence Day: July 4
  • Labor Day: September 6
  • Columbus Day: October 11
  • Veterans Day: November 11
  • Thanksgiving Day: November 25
  • Christmas Day: December 25

Why is Martin Luther King Day celebrated?

Martin Luther King was born in 1929 into a country divided by racial segregation in many states. He was the son of early civil rights activist Martin Luther King Sr., and participated in protest movements from a young age.

He grew to national prominence in 1955 when he led the Montgomery bus boycott after Rosa Parks was arrested for refusing to give up her seat on a bus for a white man. He made perhaps the single most famous speech in modern history in 1963 in declaring; “I Have a Dream”, delivered on the steps of the Lincoln Memorial during the March on Washington.

MLK Day is one of only two official federal holidays to take place on someone’s birthday, with the other being the observance of George Washington’s birthday. King was assassinated in 1968 in Memphis, Tennessee and was posthumously awarded the Presidential Medal of Freedom and the Congressional Gold Medal.

Martin Luther King Day began in some cities and states as early as 1971, but it wasn’t until 1986 that President Ronald Reagan made it a federal holiday.

Though most federal buildings like post offices and public libraries will be closed on MLK Day 2021, many private businesses choose to stay open every year. Many nationwide stores are planning to stay open.

National Parks are offering free entry this Martin Luther King Jr Day.