Labor Day 2023: Opening hours for banks on Labor Day: Citi, Wells Fargo, Bank of America…

Labor Day is a federal holiday celebrated on the first Monday in September each year. It honors and recognizes the American labor movement and the contributions of workers to the development of the country.

The holiday serves as a tribute to the social and economic achievements of workers, and because most of them take the day off, many establishments will be closed on Monday, Sept. 4.

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Are banks open on Labor Day?

Being financial institutions, most banks follow the Federal Reserve Schedule which includes Labor Day on the list of holidays that they celebrate. The Central Bank will not be operating on Monday, and most high street banks will do the same.

The following banks will definitely be closed on Labor Day:

Online transactions may not be immediate on Labor Day

Financial transactions like direct deposits you make on Labor Day may also be delayed until the next business day, regardless of which bank you transact with. Financial institutions will re-open with regular banking hours on Tuesday, Sept. 5.

For those who are clients of online banks, you may still be affected even though there are no physical branch locations. The bank may still observe Labor Day, and transactions may also be delayed until the day after the holiday.

If you need to do a lot of banking in general, it is advisable to check your bank’s website to see which holidays they observe. If you cannot find their holiday schedule online, you can call the branch closest to you for this information.