CHRISTMAS
Bank opening hours on 2023 Christmas Eve and Day: Wells Fargo, JP Morgan, Citibank, Goldman Sachs
If you have holiday transactions to make, you may have to wait until Tuesday because Christmas Eve falls on a Sunday and Christmas Day is a federal holiday.
Whether baking up cookies with the kids, picking up those last-minute gifts or meeting up with friends to share the holiday spirit, one can easily overlook having to do the mundane. If you need to do any banking before Christmas, you’ll need to get to the bank by Saturday or you’ll have to wait until Tuesday next week.
Christmas is one of 11 bank holidays in the US when the Federal Reserve closes. Even though banks are not required to close on 25 December, don’t expect to find one open. The 25th is on Monday, so inter-bank transactions will not be processed until the next business day. If you’re in a pinch, you can always use online banking services.
READ ALSO: Know your federal holidays
When will banks be open?
Many businesses including banks close on Christmas Day, so you’ll need to wait until the next business day, which will be Tuesday 26 December this year.
At most banks, if you must do any transactions on Christmas Eve or Day you can use an ATM or online banking service. However, be aware that the Federal Reserve will be closed Christmas Day, so any money transfers done between banks online will not be processed until the following business day.
For those who need to do Market Mutual Funds transactions with JP Morgan banks and some of their third-party partners, there are early cut-off times for Christmas Eve, as well as days before and after other observed US holidays.
READ ALSO: USPS to deliver over 10 million packages this holiday season
What to do in a banking emergency
If you need to make a transfer to someone in a hurry on Christmas Day you can look into using a peer-to-peer or mobile payment system like Venmo but research which one you are going to use first since not all send money instantly. The best option is to check with your bank to see if they have a service already integrated into their online app.
You can also try calling your local bank to see if they are open or have someone watching the helm, but don’t be surprised if no one picks up the phone.