Yes, banks are closed on Columbus Day at almost every major national chain, including Bank of America and Wells Fargo.1Bank of America. Bank of America Financial Center Services FAQs Columbus Day 2026 falls on Monday, October 12. TD Bank is the notable holdout and keeps its stores open that day.2TD Bank. TD Bank Holiday Hours, Open and Closure Schedule Some community banks and credit unions also stay open, but that varies by branch, so check your bank’s holiday schedule before making the trip.
The closures aren’t required by law. They follow the Federal Reserve, which shuts down its ACH processing and large-value wire transfer services on federal holidays. Without the payment rails most banks depend on, there’s little reason to open the lobby. For 2026 specifically, Fed ACH processing ends at 3:00 a.m. ET on Saturday, October 10, and resumes at 5:30 p.m. ET on Monday, October 12.3Federal Reserve Bank Services. Federal Reserve System Holiday Schedule
What Stops Working on Columbus Day
Even if you can open your bank’s app, several transaction types pause behind the scenes:
- ACH transfers and direct deposits. The ACH network does not process on federal holidays. A paycheck or benefit payment scheduled for October 12 won’t post until Tuesday.4Nacha. ACH Payments Fact Sheet
- Wire transfers. Fedwire shuts down on federal holidays. A domestic wire initiated Monday won’t settle until the next business day.5Board of Governors of the Federal Reserve System. Federal Reserve Board Announces Expanded Operating Days of Two Large-Value Payments Services
- Check clearing. A check deposited by mobile app or ATM will show as pending, but the funds won’t clear until Fed systems come back online Tuesday.
- Bills due on the holiday. These are generally collected the next banking day, and most lenders extend grace periods that fall on a holiday. Scheduling a day or two early removes any doubt.4Nacha. ACH Payments Fact Sheet
What Still Works
ATMs run around the clock, so cash withdrawals and deposits continue as usual. Online and mobile banking stay live for balance checks, transfers between your own accounts, and transaction history. Peer-to-peer apps like Venmo and PayPal process on their own ledgers, though the underlying bank settlement may not complete until Tuesday.
Two newer payment rails also run every day of the year, including federal holidays:
- FedNow. The Federal Reserve’s instant payment service requires participating banks to make funds available immediately, 24/7/365. If both your bank and the recipient’s bank are on FedNow, a transfer sent Columbus Day settles in seconds.6Federal Reserve. FedNow Payment Flow Process and Funds Availability
- RTP. The Clearing House’s Real-Time Payments network also runs 24/7/365 with instant settlement, handling transactions up to $10 million.7The Clearing House. Real Time Payments
If Your Paycheck Is Scheduled for October 12
Because ACH doesn’t run on federal holidays, a direct deposit dated Monday, October 12, 2026, won’t arrive Monday morning. Some employers submit payroll early so the deposit lands the Friday before. Others let it process the following Tuesday. Your employer’s payroll practice decides which it will be.
If a payment is due Monday and you’re counting on that deposit to cover it, either schedule the bill for the preceding Friday or confirm with the biller that a Tuesday arrival won’t trigger a late fee. Most billers won’t penalize a due date that falls on a federal holiday, but confirming beats assuming.