There's nothing like a good Black Friday deal to loosen the purse strings. In fact, a survey released by the National Retail Federation revealed that 179.8 million unique shoppers dropped some cash on in-store and online purchases over the Thanksgiving Holiday weekend in 2021, with $8.9 billion spent on Black Friday alone. That's a lot of financial transactions that may have necessitated a trip to the bank (by both consumers and business owners), which raises the question: are banks open on Black Friday?
Black Friday is not a federal holiday, so banks are generally open and operate within their normal business hours. However, there may be exceptions, so it's important to check beforehand to avoid disappointment. Many credit unions and other financial institutions are closed on the day.
To ensure you're fully prepared for the holiday season and don't miss out on the biggest retail day of the year, this post covers everything you need to know about your ability to use banking facilities over the Thanksgiving weekend and what to do if your branch is closed. Let's dive in by elaborating on the answer to your most pressing question.
Are Banks Closed On Black Friday?
Once bellies are full of Thanksgiving roast turkey, sweet potatoes, and pumpkin pie, it's only natural to start thinking about the very next day. For some, it's back to work. For others, it's a rush to snag the best Black Friday specials. Those who have to cash paychecks, withdraw funds, deposit money, and conduct other financial transactions probably wonder if their bank is even open.
Although many people view Black Friday as a holiday of sorts, the reality is that it's not a holiday the Federal Reserve System observes. That means—like most businesses on this day—brick-and-mortar stand-alone banks are open as per their regular operating schedule. However, there is a chance that some may have shortened hours depending on the bank brand and location.
If you need to do some banking on Black Friday, you can rest easy knowing that the following banks are likely to be open:
|Banks Open on Black Friday|
|American National Bank||Great Western Bank|
|Bank of America||KeyBank|
|Bank of the West||M&T Bank|
|BBVA Bank||PNC Bank|
|BMO Harris||Regions Bank|
|Capital One||Santander Bank|
|Citibank||Silicon Valley Bank|
|Commerce Bank||Truist Financial|
|Eastern Bank||U.S. Bank|
|Fifth Third Bank||Union Bank|
|First Citizens Bank||Zions Bank|
That's not to say all banks or banking brands are open, though.
There are currently 26 states in the U.S. where the day after Thanksgiving (a.k.a. Black Friday) is a state holiday. That makes it an official non-working day in those states, so local banks and credit unions are likely to be closed. Additionally, if a bank branch operates within another business, such as a college campus or supermarket, it may be closed if the business is closed.
Which states observe Black Friday as a non-working holiday?
|States Where Black Friday is a State Holiday|
If you reside in one of these states or you're simply visiting for the holidays, it's best to call the local branch you want to visit or check the website for operating hours ahead of time.
Some states will also have additional holidays. For example, West Virginia observes West Virginia Day on June 20, while Texas celebrates Texas Independence Day on March 2. As a result, some banks or branches may not be open within those states.
What you should be aware of are the true bank holidays (i.e., the days recognized as non-working holidays nationally), as banks and financial institutions will be closed across the U.S. on those dates.
Which Days Are Bank Holidays?
The following table outlines the holiday schedule the Federal Reserve System observes.
|U.S. Bank Holidays|
|New Year's Day||January 1|
|Martin Luther King Jr. Day||3rd Monday of January|
|Washington's Birthday (Presidents Day)||3rd Monday of February|
|Memorial Day||Last Monday of May|
|Juneteenth National Independence Day||June 19|
|Independence Day||July 4|
|Labor Day||1st Monday in September|
|Columbus Day||2nd Monday in October|
|Veterans Day||November 11|
|Thanksgiving Day||4th Thursday of November|
|Christmas Day||December 25|
What About Credit Unions? Are They Open?
Credit unions are another matter altogether.
While banks typically follow the federal holiday calendar, credit unions and many other financial institutions observe additional days to the ones outlined above. This includes:
- Good Friday
- Emancipation Day (Observed) Washington, DC.
- Black Friday
- New Year's Eve
Even though these aren't federal holidays, many credit unions are either closed or have limited services and hours. Some private businesses that offer financial services may also choose to give their employees time off to spend a long weekend with family and friends on these days.
However, the following credit unions are definitely closed on Black Friday:
|Credit Unions Closed on Black Friday|
|Horizon Credit Union|
|Members Credit Union|
|Mobiloil Credit Union|
|Signature Federal Credit Union|
|Teachers Credit Union|
|Unify Financial Credit Union|
|Virginia Credit Union|
|Welcome Federal Credit Union|
Again, to avoid wasting your time on a trip to a bank or credit union that's closed, it's best to call a few days beforehand to inquire about standard operating hours on specific days earmarked for celebrations and observance.
Are Banks Open On Thanksgiving Day?
Unfortunately, running financial errands on Turkey Day isn't something you'll want to put on your to-do list. Since Thanksgiving is a federal holiday (as noted in our U.S. Bank Holidays table earlier), it's a non-working day nationally. The good news is that it's one of the last holidays of the year when banks and credit unions are closed for business.
How To Still Bank On Bank Holidays
Even though you cannot go to a physical bank on a bank holiday, you do have other options. Whether you need to check your account balance, pay your bills, or make an inter-account transfer, you can use online banking facilities to complete transactions. These days, nearly every banking brand has some form of online banking service available on both desktop and mobile devices.
Additionally, you may still be able to access customer service representatives in emergencies. For example, if your card is lost or stolen, you should be able to report the incident and cancel the card through your bank's dedicated number for lost cards and fraud protection. Be sure to do this immediately so that you don't lose money.
Although you'll have fewer transaction options, you can also use an ATM for deposits and withdrawals. If your bank has a mobile banking app, you may be able to conduct mobile check deposits, too.
4 Tips For Banking During The Holiday Season
Holidays provide the perfect opportunity to celebrate and relax with your loved ones, but they can also cause stressful financial issues. With financial transactions grinding to a halt on certain days, there may be payment processing delays. This means you may not receive money into your account when expected, or payments for bills may not make it to your creditors in time. Here are some of our top tips to help you navigate the holiday season and your finances with ease.
Tip 1: Pay Bills Early
In both November and December, bank holidays take place toward the end of the month—usually when bills come due. To ensure bills are paid on time, transfer the money a few days early. If you have automatic bill pay set up, make sure you always set up payment dates with enough leeway to allow funds to clear in time.
Tip 2: Plan Ahead for Bank Visits
Long queues and waiting times are part and parcel of the holiday experience. Everyone will be rushing to do their banking on the days leading up to Thanksgiving and then on Back Friday when banks reopen. The problem is only exacerbated when certain banks and credit unions have restricted hours and services. If you can't make a trip to your bank well in advance, consider banking electronically instead.
Tip 3: Have Some Extra cash On Hand
If you're a business owner who deals with customer transactions on a regular basis, you'll want to avoid running short on cash. Although you shouldn't have too much available for safety purposes, withdrawing some extra coins and currency can help you keep business going without too much trouble.
Tip 4: Save for Holiday Spending
Payroll pauses for federally recognized holidays, so you may have to wait longer for wages if you receive direct deposits from your employer. If you anticipate that purchases during this time will put extra pressure on your finances, start saving up for the holiday season so that you're not strapped for cash if wages are late.
While it's highly likely your bank will be open on Black Friday, Thanksgiving is a different story. Whether you're a business owner or consumer who needs to do financial transactions around this timeframe, make sure you plan ahead so that you don't face unexpected problems.
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Shawn Manaher is a former financial advisor, has founded 5 online businesses, and is a coach, speaker, podcast host, and author. He's been featured on Forbes, The Consults Corner on TAE Radio, The Writing Biz, What's Your Story, and more.