November 3 is the day of the presidential elections, so the daily routine of millions of Americans on this Tuesday could look a little different – to plan ahead, it’s worth finding out if the banks will be closed on election day 2020.
Banks are usually closed on federal holidays, which is determined by the schedule set by the Federal Reserve. The holidays observed by the Federal Reserve are New Year’s Day, Martin Luther King, Jr. birthday, Memorial Day, Independence Day, Labor Day, Columbus Day, Veterans Day, Thanksgiving Day and Christmas Day.
Banks tend to follow the Federal Reserve’s schedule, so they are likely to remain closed on these holidays.
However, Election Day is not a federal holiday, so the banks will operate as usual on Tuesday, November 3.
Popular banks in the United States, including Bank of America, Chase Bank, Wells Fargo, JPMorgan Chase, Citigroup, Bank of the West, BMO Harris Bank, SunTrust, HSBC USA and Comerica Bank, are all likely to be open after regular business hours on Election Day.
However, these banks will be affected by the upcoming holiday season and are likely to be closed or work with modified services on and around Thanksgiving and Christmas, with holiday hours varying by bank and branch.
To ensure that they can take advantage of certain services during the holiday season, Americans should plan ahead for possible bank closures.
When banks are closed, customers will not be able to make appointments or use services that require the services of an employee. Services that take a working day to process, such as cashing a check, will be delayed even on holidays.
However, some banking services such as ATMs, online banking and mobile banking will also be available on federal holidays. Banks are also likely to provide customer service contact information for urgent matters that cannot wait until after the holiday.
Although not a federal holiday, Election Day is a state holiday for certain states, including Delaware, Hawaii, Illinois, Kentucky, Louisiana, Montana, New Jersey, New York, Virginia and West Virginia.
In these states, some federal offices may be closed for the holiday or may operate with limited service as staff may be released on that day. However, on Election Day on November 3, banks will continue to operate as usual.