Yes, Columbus Day is a federal bank holiday. The Federal Reserve closes on the second Monday of October, and most banks close their branches with it. In 2026, that falls on Monday, October 12.
Why Banks Close
Federal law lists Columbus Day as one of eleven legal public holidays.1Office of the Law Revision Counsel. 5 USC 6103 – Holidays All twelve regional Federal Reserve Banks observe every holiday on that list.2Federal Reserve Bank of St. Louis. Federal Reserve Bank Holiday Schedule Since the Fed clears checks, processes electronic payments, and settles transfers between institutions, private banks generally close too.
Private banks aren’t required to close. Most national chains shut their lobbies, but some local banks and credit unions keep limited hours. Call your branch or check its website if you need in-person service.
What Stops Moving Between Banks
The major payment rails the Fed operates go dark for the day:
- Fedwire Funds Service, the real-time wire transfer system, runs Monday through Friday excluding holidays. A wire started on Columbus Day won’t process until Tuesday.3Federal Reserve Board. Federal Reserve Board Announces Expanded Operating Days of Fedwire Funds Service and National Settlement Service
- FedACH ends early on the Friday before and doesn’t resume until Monday evening. Direct deposits, payroll transfers, and electronic bill payments that ride on ACH don’t settle on the holiday.4Federal Reserve Services. Federal Reserve System Holiday Schedule
- The National Settlement Service, which banks use to settle net balances with each other, closes on federal holidays.3Federal Reserve Board. Federal Reserve Board Announces Expanded Operating Days of Fedwire Funds Service and National Settlement Service
What Still Works
- ATMs run normally. Withdrawals, balance checks, and deposits go through. Out-of-network machines still charge their usual surcharge, commonly around $3.
- Mobile and online banking stay up. You can view balances, review transactions, and queue transfers, though anything crossing between banks won’t settle until Tuesday.
- FedNow, the Fed’s instant payments service, runs 24 hours a day, every day of the year, including federal holidays. If both banks participate in FedNow, funds can move in seconds on Columbus Day.5Federal Reserve Board. FedNow Service
How the Holiday Delays Your Money
Columbus Day always falls on a Monday, so the pause in interbank processing stretches from Friday evening to Tuesday morning. Federal check-availability rules specifically exclude the second Monday in October from the definition of “business day.”6eCFR. 12 CFR 229.2 – Definitions A check deposited on the Friday before Columbus Day won’t start its hold-period clock until Tuesday, so your funds may be available a day later than a normal weekend would suggest.
Direct Deposit and Payroll
If payday lands on Columbus Day, timing depends on when your employer submits the payroll file. Many submit early enough for the deposit to post the preceding Friday. Otherwise, it typically shows up Tuesday. Ask your employer or payroll provider if you’re not sure which day to expect.
Credit Card Payments Due on the Holiday
If your credit card payment is due on Columbus Day and the issuer doesn’t accept mailed payments that day, the issuer generally can’t treat a payment received the next business day as late.7eCFR. 12 CFR 1026.10 – Payments The protection covers mailed payments. If you can pay online or by phone on the due date, the issuer may still expect you to use that option.
Automatic Bill Payments
ACH bill payments won’t clear on Columbus Day.4Federal Reserve Services. Federal Reserve System Holiday Schedule Schedule anything due on or right after the holiday at least one business day early to avoid a late charge. Same for person-to-person transfers and scheduled loan payments that ride on ACH.
Stock and Bond Markets
The stock market stays open. The New York Stock Exchange and Nasdaq run normal hours, 9:30 a.m. to 4:00 p.m. Eastern.8NYSE. Holidays and Trading Hours The bond market is closed: the Securities Industry and Financial Markets Association recommends full closure for U.S. government securities, corporate bonds, municipal bonds, and mortgage-backed securities on Columbus Day, and the industry follows that recommendation.9SIFMA. Holiday Schedule
What About Indigenous Peoples’ Day
Some states and the District of Columbia recognize Indigenous Peoples’ Day on the second Monday in October, either in place of Columbus Day or alongside it. For banking, the label doesn’t matter. The Federal Reserve observes the second Monday in October regardless of what a state calls it,2Federal Reserve Bank of St. Louis. Federal Reserve Bank Holiday Schedule so branch closures and processing delays are the same either way.
A Change on the Horizon
In October 2025, the Federal Reserve announced plans to expand Fedwire Funds Service and National Settlement Service to include Sundays and weekday holidays.10Federal Reserve Services. Fedwire Funds Service and National Settlement Service Expansion of Operating Days The Fed expects the change to take effect in 2028 or 2029, with bank participation voluntary. Once it’s live, wires between participating banks could clear on Columbus Day. FedACH is not part of the expansion, so direct deposits and automatic bill payments will still pause on the holiday.3Federal Reserve Board. Federal Reserve Board Announces Expanded Operating Days of Fedwire Funds Service and National Settlement Service Until then, plan around the second Monday in October.