Are Banks Closed on Memorial Day?

Why Memorial Day does not move to a weekend

Federal law sets Memorial Day as “the last Monday in May” (5 U.S.C. 6103). Because it is defined by a weekday rather than a calendar date, it cannot fall on a Saturday or Sunday. The Federal Reserve and the federal government (OPM) therefore close on the same Monday every year, and there is no split like the one on Juneteenth or Independence Day in some years.

The upcoming dates on the Federal Reserve’s holiday schedule are Monday, May 31, 2027; Monday, May 29, 2028; Monday, May 28, 2029; and Monday, May 27, 2030. The dates for 2031 (Monday, May 26) and 2032 (Monday, May 31) are calculated from the statutory rule, because the Federal Reserve has not published those years yet.

What happens to payments on Memorial Day

The holiday closes the Federal Reserve’s settlement systems, which makes the long weekend a three-day pause for interbank payments: Saturday, Sunday and Monday are all non-business days.

• ACH and direct deposit: FedACH does not settle on a Federal Reserve holiday. For Memorial Day 2026, Federal Reserve Financial Services’ holiday schedule showed FedACH processing ending at 3:00 a.m. ET on Saturday, May 23 and resuming at 5:30 p.m. ET on Monday, May 25. Payments sent over the weekend settle on Tuesday at the earliest. More on timing on our ACH page.
• Wire transfers: The Fedwire Funds Service treats Federal Reserve holidays as non-business days. A wire that misses your bank’s cut-off on the Friday before goes out on Tuesday. See wire transfers.
• Checks: Under Regulation CC, a deposit made on a day that is not a banking day for your bank may be treated as deposited on the next banking day. A check you deposit at an ATM or in the app on Memorial Day can be treated as a Tuesday deposit; your bank’s funds availability policy has the details.
• ATMs, debit cards and mobile banking: These are run by banks and card networks, so a Federal Reserve holiday does not switch them off. Transfers between two accounts at the same bank may post on the holiday, depending on the bank.
• Instant payments: The FedNow Service has “a 24-hour business day each day of the week, including weekends and holidays.” A FedNow transfer can arrive on Memorial Day if both banks offer it. The payments overview explains the difference.

Month-end paydays in 2027 and 2032

Memorial Day is the last Monday in May, so in some years it lands on May 31. That happens on Monday, May 31, 2027, and again on Monday, May 31, 2032 (calculated). Payrolls and bills scheduled for the last day of the month cannot settle through ACH that day.

An employer that pays on the last day of each month can move the May 2027 payroll to Friday, May 28 or to Tuesday, June 1. Which day it picks is the employer’s policy, not a Federal Reserve rule, and the payroll provider’s file deadline comes before the Federal Reserve’s. Employees paid every other Friday are not affected, because Memorial Day is a Monday. Our direct deposit guide covers how early or late pay can arrive around a holiday.

Since September 18, 2026, the Nacha Operating Rules require a receiving bank to make a regular ACH credit available by 9:00 a.m. its local time on the settlement date. A direct deposit that settles on Friday, May 28, 2027 should therefore be available that morning, and one that settles on Tuesday, June 1, 2027 by 9:00 a.m. that day.

What else is closed on Memorial Day

• Federal offices close on the same Monday, according to OPM.
• Mail: The Postal Service lists Memorial Day among its holidays. Its 2026 schedule shows no regular mail service on Monday, May 25, 2026; it had not yet posted 2027 dates when we checked.
• Stock market: The NYSE closes for Memorial Day in 2026, 2027 and 2028, including Monday, May 31, 2027, according to its 2026 to 2028 holiday calendar.

Saturday and Sunday before the holiday follow your bank’s usual weekend hours. The Federal Reserve does not settle ACH or wires on weekends in any case.

Frequently asked questions

Are the banks closed on Memorial Day weekend?

Saturday and Sunday branch hours are each bank’s decision; check its holiday notice. What changes for payments is Monday: with the Reserve Banks closed, nothing settles through ACH or Fedwire from Friday evening until Tuesday. To see which days are business days right now, use are banks open today.

Will my direct deposit be early because of Memorial Day?

It depends on your pay date. If your regular payday falls on Memorial Day, such as May 31, 2027 for month-end pay, your employer has to choose an earlier or later settlement date. If your payday is a Friday, the holiday does not change it.

How many business days does Memorial Day add to a deadline?

One. A Federal Reserve business day is a weekday on which the Reserve Banks are open, so Memorial Day is skipped. Five business days after Wednesday, May 26, 2027 is Thursday, June 3, 2027. The business days calculator does the count for any date.