Yes, Presidents Day is a bank holiday. Nearly every U.S. bank and credit union will close its branches on Monday, February 16, 2026, because the Federal Reserve shuts down its payment systems that day.1Federal Reserve. Federal Reserve System Holiday Schedule Your debit card, ATM, and mobile app will still work, but transfers between banks will mostly pause until Tuesday.
What’s Closed at Your Branch
Most commercial banks and credit unions lock both the lobby and the drive-through for the full day. Tellers are off, so anything that needs a person behind the counter is unavailable: notarization, safe deposit box access, cashier’s checks, loan signings, and account opening with original documents. If you need any of those, go in on the Friday before or wait until Tuesday.
A few branches keep limited hours. Locations inside grocery stores or large retailers sometimes stay open for simple deposits and withdrawals, and TD Bank has historically opened on some federal holidays. Check your specific bank’s holiday schedule on its website or app before making a trip.
What Still Works
A closed branch does not freeze your account. These functions run as normal on Presidents Day:
- ATMs for cash withdrawals, balance inquiries, and deposits.
- Credit and debit card purchases in stores and online. Card networks like Visa and Mastercard operate independently of the Federal Reserve’s settlement schedule.
- Mobile and online banking for checking balances, viewing transactions, paying bills, moving money between your own accounts at the same bank, and depositing checks by phone camera.
You can start a transfer or schedule a payment through your app on Monday, but if the money has to move to a different bank, the actual settlement waits until Tuesday. The transaction will usually show as pending in the meantime.
FedNow Is the Exception
The Federal Reserve’s FedNow Service, launched in 2023, processes instant payments every day of the year, including federal holidays.2Federal Reserve. FedNow Service Operating Hours If both your bank and the recipient’s bank participate, the transfer can settle in seconds on Presidents Day. Not every institution has joined the network, so this will not be available for every transfer. Peer-to-peer apps like Zelle and Venmo let you send money on the holiday, but if the underlying transaction runs on ACH rather than a real-time rail, the final bank-to-bank settlement can still show as pending until Tuesday.
How Transfers and Deposits Get Delayed
The real impact of the holiday happens inside the payment system, not at the front door. Two Federal Reserve services go dark:
- ACH transfers, which handle payroll direct deposits, bill payments, and most bank-to-bank transfers, do not settle on federal holidays. Any payment with a settlement date of February 16 moves to the next business day.3Nacha. ACH Payments Fact Sheet
- Fedwire, the Fed’s wire transfer service for large or time-sensitive payments, is also closed. Wires initiated on Monday will not begin processing until Tuesday morning.4Federal Reserve. Dates to Remember
Same Day ACH follows the same rule and only runs on banking days.5Nacha. Same Day ACH – Moving Payments Faster Phase 1 A Monday transfer may not finalize until Tuesday or Wednesday, depending on when your bank submits it to the next processing window.
Direct Deposit on Payday
If your regular payday falls on Presidents Day, your direct deposit will usually arrive either one business day early, on Friday, or one business day late, on Tuesday. Larger employers often submit payroll files early so funds land Friday. Smaller employers may not, which pushes the deposit to Tuesday. Ask your employer or payroll provider if you need to know in advance.
International Wires
Transfers routed through SWIFT are also affected. When a bank holiday hits either country involved, the transfer waits until the next working day in both. Money sent from overseas over Presidents Day weekend can see delays beyond the usual one-to-five-business-day window because U.S. correspondent banks cannot settle until Tuesday.
Markets and Real Estate Closings
The New York Stock Exchange and Nasdaq both close for the full day on February 16, 2026.6Nasdaq. Stock Market Holidays and Trading Hours The U.S. bond market closes as well.7SIFMA. Holiday Schedule Orders you enter over the long weekend will queue for Tuesday. Pending trades, dividend reinvestments, and retirement account contributions timed around the holiday will shift settlement dates by one business day.
Homebuyers and sellers should plan around the closure too. Mortgage loans cannot fund when Fedwire is offline, because lenders use it to send loan proceeds to the title or escrow company. County recorder offices that file deeds are also typically closed. Federal mortgage disclosure rules treat the holiday as a non-business day for required waiting periods,8Consumer Financial Protection Bureau. 1026.31 General Rules so late-week disclosures can push a closing past Tuesday. If you are closing in mid-February, coordinate with your lender and title company early.
How to Prepare Before the Weekend
- Withdraw any cash you’ll want for the weekend by Friday.
- Schedule bill payments and transfers to go out before Monday so they begin processing ahead of the pause.
- Confirm with your employer whether payroll will land Friday or Tuesday.
- Check your bank’s holiday hours in case a local branch is open for limited services.
- If a home closing falls near the holiday, work with your lender to avoid scheduling funding on February 16.