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Are banks open on MLK Day 2025?: What to know before heading to a branch

Many financial institutions will be closed Monday for MLK Day, which also is Inauguration Day in America in 2025

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The nation will honor Dr. Martin Luther King, Jr. on Monday as part of a National Day of Service to pay tribute to his legacy.

The day is marked each year by a federal holiday when many businesses close. In 2025, most banks and financial institutions, along with the stock market, will be closed on MLK Day.

When is MLK Day?

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Martin Luther King, Jr. Day is observed on the third Monday of January every year in the United States and this year will be held on Jan. 20, 2025.

Are banks closed on MLK Day?

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Martin Luther King, Jr. Day is a federal holiday, which means most banks will be closed and transactions will not post on that day.

"On January 20, 2025, the Federal Reserve Banks are closed in observance of the Birthday of Martin Luther King, Jr," the Federal Reserve's website states. Most banks follow the lead of the federal reserve and the federal government, though not required to do so.

The following banks will be closed on Monday, Jan. 20, 2025 for MLK Day:

What holidays do banks in the U.S. observe in 2025?

Banks in the United States may observe the following holidays but are not required to, according to the New York State Department of Financial Services:

  • Jan. 1 - New Year's Day
  • Jan. 20 - MLK Day
  • Feb. 17 - Washington's Birthday
  • April 18 - Good Friday
  • May 26 - Memorial Day
  • June 19 - Juneteenth
  • July 4 - Independence Day
  • Sept. 1 - Labor Day
  • Oct. 13 - Columbus Day/Indigenous People's Day
  • Nov. 11 - Veterans' Day
  • Nov. 27 - Thanksgiving Day
  • Dec. 25 - Christmas Day

Some institutions may also close for Lincoln's Birthday on Feb. 12 or Election Day on Nov. 4.

It is always best to check with your local branch to see if they are open or closed.

Is the stock market open on MLK Day?

The New York Stock Exchange will close for a long weekend after normal trading hours on Friday, Jan. 17 and reopen on Tuesday, Jan. 21.

The stock market in the United States will be closed on Monday, Jan. 20, 2025 for MLK Day.

Martin Luther King, Jr. Day will mark the third closure of the year after closures for New Year's Day on Jan. 1 and for the National Day of Mourning after Jimmy Carter's death, which was marked on Jan. 9.

When is the stock market closed in 2025?

The stock market will close for the following days in 2025:

  • Jan. 1 - New Year's Day
  • Jan. 9 - National Day of Mourning for Jimmy Carter
  • Jan. 20 - MLK Day
  • Feb. 17 - Washington's Birthday
  • April 18 - Good Friday
  • May 26 - Memorial Day
  • June 19 - Juneteenth National Independence Day
  • July 4 - Independence Day
  • Sept. 1 - Labor Day
  • Nov. 27 - Thanksgiving Day
  • Dec. 25 - Christmas Day

The markets will close early on July 3, Nov. 28 (Black Friday), and Dec. 24 (Christmas Eve).

TODAY's Sarah Lemire contributed to this report.

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