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Memorial Day 2014 bank holiday: Are banks open or closed Monday, May 26?

Memorial Day is finally here, and while many Americans are celebrating the federal holiday today by remembering those who died while serving in the military, many more will be asking if their local banks are open on Memorial Day. This year, Memorial Day is observed Monday, May 26, 2014. Memorial Day is indeed a federal holiday, but many consumers think it's still business as usual like shopping at Walmart or Target.

Placing flags at grave sites during the 'Flags-In' ceremony at Arlington National Cemetery in Arlington, Virginia.
Placing flags at grave sites during the 'Flags-In' ceremony at Arlington National Cemetery in Arlington, Virginia.
Photo by Alex Wong/Getty Images
Memorial Day 2014 Bank Holiday: Are Banks Open or Closed on Federal Holiday, Monday, May 26
Stock.xchng; emsago

According to The Epoch Times on Sunday, May 25, most banks are closed on Memorial Day, as it is one of the 10 major banking holidays throughout the year. Unfortunately, that means you'll have to wait until Tuesday, May 27 to make deposits and do any major banking business. Of course, you can always withdraw money from the ATM in most places, unless of course they are located inside a locked bank or kiosk in a store that is also closed on Memorial Day.

Meanwhile, CBS News reported on Sunday, May 25 that after President Obama returns from his surprise visit to Afghanistan, he plans to visit Arlington National Cemetery on Monday to mark Memorial Day by laying a wreath at the Tomb of the Unknown Soldier.

TD Bank Stores are closed on Memorial Day

TD Bank stores are closed on Memorial Day, May 26 this year. TD Bank has an unusual bank holiday schedule, in that while most banks are closed on all 10 federal holidays, TD Bank picks and chooses which holidays they are open and closed so it can get pretty confusing for their bank customers. For example, TD Bank was open on Presidents' Day this year. Memorial Day just happens to be one of those federal holidays that they are closed. You will have to wait until their banks reopen for normal business on Tuesday, May 27.

Any banks that you are fortunate to find open on Memorial Day will most likely be open for abbreviated business hours and close early. However, all transactions made on federal holidays will be processed the next business day, May 27. Supermarket stores usually follow the same holiday schedule as traditional stores.

Banks that are Closed on Memorial Day

Here in the Providence, Rhode Island area, the following banks observe Memorial Day, and their lobby and drive-up windows are closed. Local ATMs are almost always open unless they are located inside a bank lobby. Call first to be sure.

TD Bank stores are closed on Memorial Day, May 26. Webster Bank's holiday schedule shows that their banks are not open on Memorial Day. Citizens Bank holiday schedule shows that their bank branches are closed on Memorial Day. Washington Trust's Bank Holiday Schedule shows the bank is not open on Memorial Day. Santander Bank offices will be closed to observe the Memorial Day holiday. Coastway Credit Union observes observes Memorial Day on Monday, May 26. Greenwood Credit Union's holiday schedule reports the bank is closed Memorial Day. And finally, Bank of America offices and banking centers will be closed in observance of Memorial Day.

Sources: The Epoch Times; CBS News; Citizens Bank, Washington Trust, Bank of America, Sovereign Bank, Coastway Credit Union, Greenwood Credit Union, TD Bank

Photo Credit: Memorial Day 2014 Bank Holiday, Stock.xchng; emsago

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