THANKSGIVING

Bank opening hours on Thanksgiving 2020: Bank of America, Citi, Wells Fargo, JP Morgan, Goldman Sachs

Thanksgiving is on 25 November, most banks and public offices will be closed, so best to prepare in advance.

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Bank opening hours on Thanksgiving 2020: Bank of America, Citi, Wells Fargo, JP Morgan, Goldman Sachs
SUSANA VERA REUTERS

After the pandemic upended many Thanksgiving plans last year, many families are excited to return to a more traditional celebration. While you dig into a plate heaping with roast turkey, stuffing, and all the fixings, covered in gravy, you should expect the staff at your local banking to be doing to same.

With Thanksgiving just two days away, it is best to prepare as many bank offices will be closed on Thursday and Friday.

Thanksgiving is one of 11 bank holidays in the United States and is celebrated every fourth Thursday of November. This year Thanksgiving falls on 25 November typically the holiday almost universally observed across the US by all businesses.

When will banks be open?

Call your local bank branch to see what their hours will be on these days and whether you need an appointment, due to the pandemic some branches have limited hours and capacity inside the building.

While the bank may be closed, most will have their ATMs open for people to deposit checks, or withdraw funds. However, be aware that the Federal Reserve will be closed on Thanksgiving Day so any money transfers done between banks online will not be processed until the following day. Most banks follow the Federal Reserve holidays as they are dependent on their services.

What to do in an emergency

If you need to make a transfer to someone in a hurry on Thanksgiving Day you can look into using a peer-to-peer or mobile payment system, like Venmo. Researching which option may be the best can help if you are in a bind because only some allow for the transferring of funds instantly.  Most banks offer this sort of service and check with yours to see if they integrated this service into their online app.

You can also try calling your local bank to see if they are open or have someone watching the ship, but don’t be surprised if no one picks up the phone.