Is Veterans Day a Bank Holiday? What You Need to Know

Veterans Day, observed annually on November 11, is indeed a federal holiday in the United States, honoring those who have served in the military. But does that mean your bank will be closed? For the most part, yes.

Do Banks Close on Veterans Day?

Most major banks, including household names like Chase and Wells Fargo, typically close their branches on Veterans Day. This is because they adhere to the Federal Reserve's holiday schedule, and the Federal Reserve System observes Veterans Day as a holiday. So, if you're planning a trip to your local branch, it’s wise to check their specific holiday hours. However, don't fret about your finances entirely; online banking services and ATMs remain fully operational, allowing you to manage your accounts and withdraw cash.

A Brief Look at Veterans Day History

The origins of Veterans Day trace back to Armistice Day, a commemoration of the end of World War I on November 11, 1918. It wasn't until 1954, driven by the advocacy of veteran organizations, that Congress officially renamed it Veterans Day to honor all American veterans across all conflicts. There was a brief period, from 1971 to 1978, when the holiday was shifted to the fourth Monday in October due to the Uniform Monday Holiday Act. This move aimed to create more three-day weekends, but it led to considerable confusion and public resistance. Many felt November 11 held too much historical and patriotic significance to be moved. Consequently, in 1975, President Gerald R. Ford signed legislation to restore the observance to its original date, effective in 1978. It's a testament to the date's enduring importance, wouldn't you say?

Beyond Banks: Who Else Observes the Holiday?

While federal government offices are closed, the observance of Veterans Day by other entities can vary significantly. State and local governments, schools, and private businesses are not legally mandated to close. Many private companies might offer it as a floating holiday, giving employees flexibility. For instance, UPS and FedEx retail stores and shipping services generally operate as usual, though you might experience minor shipping delays. On the other hand, the U.S. Postal Service strictly observes the holiday, meaning most mail services are suspended, with the exception of Priority Mail Express delivery. Interestingly, the stock market does not observe Veterans Day as a holiday and remains open for trading. Wisconsin stands out as the only state that doesn't officially recognize Veterans Day as a legal holiday, choosing instead to continue celebrating Armistice Day. It's a nuanced picture, isn't it?

Here's a quick overview of common closures: