Are Banks Open on MLK Day?

Why the date changes every year

The law names the holiday “Birthday of Martin Luther King, Jr.” and fixes it on the third Monday in January (5 U.S.C. 6103). King was born on January 15, 1929, and the holiday was first observed on January 20, 1986, according to the Encyclopedia of Alabama. Because it is tied to a Monday, it lands between January 15 and January 21.

That also means MLK Day cannot fall on a weekend. The Federal Reserve and the federal government close on the same Monday every year, and there is no Friday-before or Monday-after rule to worry about. The Federal Reserve’s published schedule covers the dates through 2030; the 2031 and 2032 dates in the table above are calculated from the statutory rule.

January 15 itself is a normal business day unless it happens to be the third Monday. On Friday, January 15, 2027, for example, the Reserve Banks are open and payments settle as usual.

Are the banks open on MLK Day for payments?

No. MLK Day is a closure day for the payment systems the Federal Reserve runs. What that means in practice:

• ACH and direct deposit: FedACH does not settle on the holiday. For MLK Day 2026, Federal Reserve Financial Services stopped FedACH processing at 3:00 a.m. ET on Saturday, January 17 and resumed it at 5:30 p.m. ET on the holiday, so files sent that evening settled on Tuesday. As of October 23, 2026, the 2027 windows have not been published. A payday on Friday, January 15, 2027 is not affected. More on ACH and direct deposit.
• Wires: the Fedwire Funds Service does not operate on Federal Reserve holidays. A wire that misses your bank’s cut-off on Friday, January 15, 2027 is sent on Tuesday, January 19. See wire transfers.
• Checks: under Regulation CC, the third Monday in January is not a business day, so it does not count toward a hold on a check deposit.
• ATMs, debit cards and mobile apps: run by banks and card networks, not the Federal Reserve, so a Fed holiday does not switch them off. When a deposit made on the holiday is credited depends on your bank.
• Instant payments: the FedNow Service runs on weekends and holidays, so a FedNow transfer can arrive on MLK Day if both banks offer it.

For deadlines, the holiday removes one business day from the count. Ten business days after Monday, January 4, 2027 is Tuesday, January 19, because January 18 is skipped. The business days calculator does this for any date.

What else is closed on MLK Day

MLK Day closes more than the Federal Reserve:

• Federal offices are closed, as the Office of Personnel Management schedule shows.
• Mail: the Postal Service lists Martin Luther King Jr. Day among its holidays with no mail service.
• Stock market: the NYSE is closed on Monday, January 18, 2027, according to its holiday calendar.

State offices, schools and private employers set their own schedules.

Frequently asked questions

Is it a bank holiday today?

Our are banks open today page shows today’s status, tomorrow and the next seven days, based on the Federal Reserve schedule.

What are the other bank holidays in January?

January has two Federal Reserve holidays: New Year’s Day on January 1 and MLK Day on the third Monday. In 2027 that means two closures in less than three weeks. The full list for the year is on our 2027 bank holidays page.