Yes, Presidents Day is a bank holiday. Federally designated as Washington’s Birthday, it falls on Monday, February 16, 2026, and nearly every bank branch in the country will be closed. More importantly for your money, the Federal Reserve’s payment systems go dark that day, so most electronic transfers between banks pause until Tuesday. ATMs, debit and credit cards, and mobile banking apps keep running.
Why Banks Close That Day
The Federal Reserve observes eleven federal holidays each year, and Washington’s Birthday on the third Monday of February is one of them.1Federal Reserve. Federal Reserve System Holiday Schedule When the Fed closes, its core settlement services, the plumbing that moves money between banks, go offline. Private banks depend on those systems to finalize transfers, so most simply close their branches too. The federal name has never officially changed to Presidents Day; the statute still reads Washington’s Birthday.2Office of the Law Revision Counsel. 5 USC 6103 – Holidays
What’s Closed at Your Branch
Lobbies and drive-through lanes at most commercial banks and credit unions are shut for the full day. Tellers are off, and services that require staff, notarization, safe deposit box access, and cashier’s checks, are unavailable. If you need any of those, plan to go the Friday before or the Tuesday after.
A few branches located inside grocery stores or large retailers may keep limited hours for shopper convenience. They can generally handle simple deposits and withdrawals but cannot process anything that depends on Fed settlement. TD Bank has historically opened on some federal holidays, so check your specific bank’s holiday schedule online or by phone before making the trip.
What Still Works
A closed branch doesn’t mean a frozen account. Several everyday functions keep running:
- ATMs continue to handle cash withdrawals, balance inquiries, and deposits.
- Credit and debit card purchases go through networks like Visa and Mastercard that operate independently of the Fed’s schedule, so swiping, tapping, and online checkout are unaffected.
- Mobile and online banking stay live for checking balances, paying bills, moving money between your own accounts at the same bank, and depositing checks with your phone camera.
You can still initiate a transfer or bill payment through your app on Monday. The catch is that if it needs to reach a different bank, the actual movement of funds won’t complete until settlement resumes Tuesday. Expect it to sit in pending status until then.
FedNow Is the Exception
The Federal Reserve’s FedNow Service, launched in 2023, runs around the clock every day of the year, including federal holidays.3Federal Reserve. FedNow Service Operating Hours If both your bank and the recipient’s bank are on the network, a payment can settle within seconds on Presidents Day. Adoption is still growing, though, so it isn’t available for every account. Peer-to-peer apps like Zelle and Venmo let you send money on the holiday, but if the underlying rails are ACH rather than instant, the transfer between banks may show pending until Tuesday.
How Transfers and Deposits Get Delayed
The bigger practical impact is behind the scenes. Two major Fed systems are offline:
- ACH transfers, which carry payroll direct deposits, most bill payments, and routine bank-to-bank transfers, don’t settle on federal holidays. Any ACH payment with a Monday settlement date gets pushed to the next business day.4Nacha. ACH Payments Fact Sheet
- Fedwire, the Fed’s wire transfer service for large or time-sensitive payments, also closes. Wires initiated on Presidents Day won’t start processing until Tuesday morning.5Federal Reserve. Dates to Remember
Same Day ACH follows the same rule. It only runs on banking days, not weekends or holidays.6Nacha. Same Day ACH – Moving Payments Faster Phase 1 A transfer you kick off Monday may not finalize until Tuesday or even Wednesday, depending on when your bank submits it to the next window.
Direct Deposit
If your regular payday lands on Presidents Day, your direct deposit will likely arrive either one business day early, the preceding Friday, or one business day late, the Tuesday after. The timing depends on your employer’s payroll schedule. Larger employers often submit payroll files early enough for a Friday arrival; smaller employers may not, which pushes the deposit to Tuesday. If you’re unsure, ask your employer or payroll provider.
International Wires
International transfers routed through SWIFT are affected too. When a bank holiday hits either the sending or receiving country, the transfer waits for the next working day in both. A wire sent from overseas on Presidents Day weekend can run past the usual one-to-five business day window because U.S. correspondent banks can’t settle it until Tuesday.
Markets and Real Estate Closings
The pause reaches beyond deposit accounts. Both the New York Stock Exchange and Nasdaq close for the full day.7Nasdaq. Stock Market Holidays and Trading Hours Orders you enter over the long weekend queue for Tuesday morning. The U.S. bond market closes as well.8SIFMA. Holiday Schedule If you have pending trades, dividend reinvestments, or retirement contributions timed for that Monday, expect settlement to shift by a business day.
Homebuyers should be alert too. Mortgages can’t fund when Fedwire is offline, because lenders use it to move loan proceeds to the title or escrow company. County recorder offices are typically closed as well. Federal rules define “business day” for mortgage disclosure waiting periods to exclude Sundays and the holidays listed in 5 U.S.C. ยง 6103.9Consumer Financial Protection Bureau. 1026.31 General Rules Disclosures delivered late in the prior week can push a closing date past Tuesday, so coordinate with your lender and title company early.
How to Prepare
A few simple moves can keep the holiday from disrupting your finances:
- Withdraw cash before the weekend if you’ll need it.
- Submit bill payments and transfers by Friday so they start processing before the pause.
- Confirm with your employer whether payroll will land Friday or Tuesday.
- Check your bank’s posted holiday hours in case a nearby branch, especially one inside a store, keeps limited service.
- If you’re closing on a home near mid-February, work with your lender to avoid scheduling funding on the holiday itself.