Black Friday, occurring on the day after Thanksgiving, is widely recognized as the biggest shopping day of the year. It’s a time when retailers offer some of the biggest holiday steals, enticing shoppers to flock to stores and online marketplaces.
But is Black Friday a bank holiday? The answer is no; Black Friday is not a federal bank holiday. However, this doesn’t necessarily mean that all banks will be open. The decision to open is often left to individual banks and can vary by location.
Key Takeaways:
- Black Friday is not a federal banking holiday, so bank hours vary.
- Many major banks stay open regular hours, while smaller banks and credit unions may close.
- Closed branches don’t cut off access – ATMs, mobile banking, debit cards, and more still work.
- Online banking and mobile check deposit enable remote account management.
- Payments still process on Black Friday but may hit accounts on the next business day.
Are Banks Open on Black Friday in 2023?
The day after Thanksgiving, known as Black Friday, is famous for blowout deals and jam-packed shopping malls. But behind the scenes of doorbuster sales and crowded parking lots is an uncertainty — are banks open on Black Friday?
For many Americans, the answer is unclear. Black Friday is a huge shopping holiday, but not technically a federal bank holiday. So banks may operate differently than other businesses.
This article will provide a complete guide on what to expect from banks and credit unions on Black Friday 2023. We’ll cover bank hours, services, account access, and more so you can shop stress-free.
Is Black Friday a Bank Holiday?
Black Friday is not an official bank holiday. The Federal Reserve recognizes 11 national bank holidays each year, and the day after Thanksgiving is not one of them.
So even though many government agencies, schools, and businesses are closed on Black Fridays, banks do not have to follow suit. It is up to each individual bank or credit union to decide whether to close for the day.
Federal Holidays vs. Bank Holidays: Understanding the Difference
Federal holidays in the United States are days designated by the government when federal institutions are closed. Bank holidays, while often aligning with federal holidays, are not always identical. Banks and credit unions may observe additional days off or maintain regular hours even on some federal holidays.
Do Banks Close on Black Friday?
Most national banks remain open on Black Fridays with regular hours. However, some banks opt to close early or keep select branches shuttered.
Here are Black Friday operating hours for major banks:
- Bank of America — Open regular hours
- Wells Fargo — Open regular hours
- Chase — Open regular hours
- Citibank — Open regular hours
- U.S. Bank — Open regular hours
Meanwhile, many credit unions close for the holiday. Call ahead or check your financial institution’s website to confirm its Black Friday schedule.
Bank Holiday Closures in 2023
| Holiday | Date |
|---|---|
| New Year’s Day | January 2 |
| Martin Luther King Jr. Day | January 16 |
| Presidents’ Day | February 20 |
| Memorial Day | May 29 |
| Independence Day | July 4 |
| Labor Day | September 4 |
| Columbus Day | October 9 |
| Veterans Day | November 11 |
| Thanksgiving | November 23 |
| Christmas | December 25 |
*Black Friday is not a federal banking holiday
What are Bank Holidays?
Bank holidays are days when banks are federally mandated to close. There are 10 federal bank holidays in the United States each year. These holidays are:
- New Year’s Day
- Martin Luther King, Jr. Day
- Presidents’ Day
- Memorial Day
- Independence Day
- Labor Day
- Columbus Day
- Veterans Day
- Thanksgiving Day
- Christmas Day
Why Do Some Banks Close on Black Friday?
There are a few reasons why some banks shut down on the busy shopping day:
- It is a state holiday — In several states, Black Friday is an official state holiday. So banks located in those states may be required to close.
- Skeleton staff — With many employees taking vacation around Thanksgiving, banks may not be able to open fully staffed.
- Low traffic — Customer traffic drops dramatically at physical branches on Black Fridays. So closing may make financial sense.
- Security — Armored transports may be unavailable on the holiday. This makes replenishing cash risky.
If your local branch is impacted, never fear. You still have plenty of options for accessing funds and managing finances on Black Friday.
Are Major Banks Open on Recent Black Fridays?
| Year | Bank of America | Chase | Wells Fargo | Citibank | U.S. Bank |
|---|---|---|---|---|---|
| 2022 | Open | Open | Open | Open | Open |
| 2021 | Open | Open | Open | Open | Open |
| 2020 | Open | Open | Open | Open | Open |
| 2019 | Open | Open | Open | Open | Open |
| 2018 | Open | Open | Open | Open | Open |
How to Access Cash on Black Friday
If your bank or credit union closes for Black Friday, here are some ways to access cash for holiday shopping:
Use fee-free ATMs
Most major banks participate in ATM networks that provide surcharge-free withdrawals. For example, Bank of America customers can use ATMs at CVS, 7-Eleven, and other partner networks at no extra cost.
Try retail ATMs
Many stores like grocery and big box outlets have ATMs on-site. While fees may apply, they are often lower than strip mall ATMs.
Use your debit card
Debit cards connected to checking accounts can be used to get cash back at merchants like grocery stores. Just ask for cash back when making a purchase.
Head to retailers
Department stores and other retailers often have on-site ATMs, especially on Black Friday. Malls are another safe bet for ATM access.
How to Manage Finances Digitally on Black Friday
Closed branches don’t have to derail your entire financial routine. Mobile and online banking keep accounts accessible on Black Friday:
Check balances — Log in to your bank’s website or mobile app to view up-to-date balances and recent transactions.
Transfer money — Move funds between accounts to cover Black Friday purchases via mobile banking.
Pay bills — Pay credit cards, utilities, and other bills through your bank’s online bill pay.
Deposit checks — Deposit checks remotely by submitting photos through your banking app.
Send money — Use peer-to-peer services like Zelle to pay back friends or transfer cash gifts.
Will Transactions Process on Black Friday?
Yes, banks still process transactions on Black Fridays. However, the timing may differ slightly.
ACH transfers — Scheduled ACH transfers will process normally. However, processing could be delayed until the next business day depending on your specific bank.
Bill payments — Online bill payments will go through but may postpone processing until the following Monday.
Direct deposits — Scheduled paycheck deposits still credit accounts on Black Fridays. But your employer’s payroll processor could delay funds until the next business day.
Wires — Wire transfers enter the payment network on Black Friday. But recipient banks may not credit funds until the following Monday.
If you need access to incoming funds immediately, check with your employer or sending bank to confirm timing.
How do I get cash on Black Friday if my bank is closed?
You have several options for accessing cash on Black Friday beyond your own bank’s ATMs:
- Use ATMs at retailers, grocery stores, malls, and other public locations.
- Get cash back with debit card purchases at merchants like grocery stores.
- Visit retailers like department stores that may have ATMs available on-site.
Frequently Asked Questions
Are all banks closed on Black Friday?
No, most major national banks remain fully open for Black Friday. However, some smaller regional and local banks opt to close or reduce hours. Credit unions more commonly close for the day.
What bank services are available on Black Friday?
ATMs, mobile banking, online banking, debit cards, credit cards, and other remote services are widely accessible on Black Friday, even when bank lobbies are closed. You can check balances, transfer funds, deposit checks, pay bills and more.
Can I deposit checks on Black Friday?
Yes, mobile check deposit allows you to deposit checks remotely by submitting photos through your banking app. This service is available even when physical branches are closed.
How do I pay bills or transfer money if branches are closed?
Online banking and mobile apps allow you to pay bills, transfer money between accounts, send funds to others, and handle other tasks remotely on Black Friday. Transactions will process normally.
How Do Thanksgiving and Black Friday Affect Bank Operations?
Thanksgiving is a federal holiday, which means banks will be closed. As for the day after Thanksgiving, Black Friday, banks typically resume normal operations, but there may be exceptions. It’s a busy day for everyone, including bank staff, who may be operating on a modified schedule.
Can I Access Online Banking on Black Friday?
Absolutely. Online banking is available 24/7, even on bank holidays. Customers can check their account balance, make transfers, and use mobile check deposit features regardless of whether their local bank branch is open or closed.
Are ATMs Available on Bank Holidays Like Black Friday?
Yes, ATMs are accessible and operational on Black Friday, allowing customers to withdraw cash, deposit checks, and perform other transactions. Many banks are part of larger ATM networks like Allpoint, providing fee-free access to cash even when the local branch is closed.
Do Banks Offer Limited Services on the Day After Thanksgiving?
Some banks may offer limited services on Black Friday due to high demand and staff availability. It’s wise to plan ahead if you anticipate needing in-person services on this day.
How to Check with Your Local Branch About Black Friday Hours
To avoid a wasted trip to your local branch, it’s advisable to check with your bank regarding their Black Friday hours. This can often be done via the bank’s mobile app, website, or by calling the branch directly.
What Are My Banking Options If Banks Close on Black Friday?
If your local bank is closed, you still have plenty of banking options. Mobile banking apps, ATMs, and money transfer services like Venmo or Zelle® ensure that you can carry out most banking tasks without needing to visit a bank branch.
Are banks open today, the day after Thanksgiving, which is often referred to as Black Friday?
Yes, banks will be open today. While the day after Thanksgiving is recognized by many as part of the long holiday weekend, it isn’t a federal bank holiday. Therefore, most local bank branches will resume their normal operating hours. However, it’s always best to check with your local branch or your bank’s mobile app to confirm, as some banks may close their doors or operate with limited holiday hours.
Can I still access my savings accounts through ATMs if my local bank branch is closed on federal holidays?
Absolutely. Even when your local bank branch is closed on federal holidays, you can still use your debit card to make an ATM withdrawal from your savings accounts. ATMs are part of a larger ATM network, like Allpoint, which often provides fee-free ATMs. This ensures that you can check your account balance and access your funds at any time.
If a bank will be closed for a federal bank holiday, when will transactions be processed?
Transactions such as checks or money transfers that occur on a federal bank holiday will be processed on the next business day. This means if you deposit a check on a day when banks are closed, the funds may not be available until the following business day. It’s always best to plan ahead for banking around federal holidays to avoid any inconvenience.
Are credit unions and banks following the same holiday schedules, and how can I find out if my bank is open?
Banks and credit unions may observe similar holiday schedules, but there can be variations. To find out if your bank or credit union is open, it’s first to know their specific holiday hours, which you can usually do by checking their official website, using mobile banking apps, or by contacting your local branch directly. Remember, even if banks close on federal holidays, you can still use mobile banking options and money transfer services like Venmo or Zelle® for many of your banking needs.
Will banking services be available on state holidays, such as Thanksgiving, which some states observe as a state holiday?
On state holidays like Thanksgiving, which some states officially recognize as a state holiday, many banks and credit unions may close their doors or offer limited services.
However, you should be able to visit an ATM for basic transactions or use your bank’s mobile app for services like mobile check deposits or transaction history reviews. To ensure you’re not making a wasted trip to your local branch, it’s best to check with your local branch about their specific holiday hours.
Will direct deposit go through on Black Friday?
Yes, direct deposit will go through on Black Friday. Direct deposits are typically processed on the same day they are sent, regardless of the day of the week.
Is Good Friday not a banking holiday?
Good Friday is not a federal holiday in the United States. However, some banks may close on Good Friday
Conclusion
While not an official holiday for banks, many financial institutions close or reduce hours on Black Friday. But online, mobile, ATM, and card services still provide cash access. Just confirm your bank’s specific holiday schedule before shopping to avoid an unexpected disruption.
With a bit of preparation, you can enjoy smooth banking and big savings this Black Friday.
