President-elect Donald Trump's Inauguration Day will take place on Monday, January 20, which also coincides with Martin Luther King Jr. Day, a federal holiday.
Because of the date, many federal offices and services will be closed. Banks will also be shut down on Monday, January 20, due to the holiday.
Why It Matters
Banks close on days that are deemed to be federal holidays. That includes Martin Luther King Jr. Day as well as other holidays like Christmas and Easter.
While online banking services are still available for major financial institutions, you should not expect physical offices to be open throughout the day on Monday.
What To Know
King was born in 1929 and died in April 1968 when he was assassinated in Memphis, Tennessee, while supporting striking sanitation workers.
Today, the civil rights leader is perhaps most well-known for his famous "I Have a Dream" speech, which he delivered at the Lincoln Memorial in Washington, D.C., five years before his death.
Is Citibank open on Inauguration Day?
Citibank, which operates roughly 650 banks in 13 states, will be closed on Monday, January 20, in observance of Martin Luther King Jr. Day.
Is Wells Fargo open on Inauguration Day?
Just like Citibank, Wells Fargo will be closed on Inauguration Day as well. Online banking services and ATMs, however, should still be accessible to customers.
Is Chase open on Inauguration Day?
Chase, like the other banks, shuts down its offices on federal holidays. That includes Martin Luther King Jr. Day, which this year falls on Trump's Inauguration Day.
Is Bank of America open on Inauguration Day?
Regardless of the timing of Inauguration Day, Bank of America will be closed for the federal holiday of Martin Luther King. Jr Day.
Is US Bank open on Inauguration Day?
Like all other major banking institutions, US Bank will be closed on Inauguration Day.
Likewise, the stock market will be closed for Martin Luther King Jr. Day.
What People Are Saying
A Nasdaq trader alert said for U.S. markets: "Nasdaq U.S. equities and options markets will be closed on Monday, January 20, 2025, in observance of Martin Luther King Jr. Day."
What Happens Next
In addition to banking institutions, federal and state courts will be closed on Inauguration Day as well due to the timing of Martin Luther King Jr. Day.
Mail delivery from the United States Postal Service will also be suspended, but FedEx will continue to deliver packages as previously scheduled.
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