Monday, January 16 marks Martin Luther King Jr. Day across the United States.
The federal holiday is celebrated on the third Monday of January, close to the civil rights activist's birthday on January 15.
King Jr. was born in 1929 and died in April 1968, when he was assassinated while in Memphis, Tennessee, to support striking sanitation workers.
Five years before his death, Nobel Peace Prize winner King Jr. delivered his famed "I Have a Dream" speech from the steps of the Lincoln Memorial in Washington, D.C.
Though his birthday was approved as a federal holiday in 1983, all 50 states began observing it as a government holiday only in 2000.
Newsweek has everything you need to know about how the banks will be running as the Martin Luther King Jr. holiday is celebrated all around the country.
Are Banks Open on Martin Luther King Jr. Day 2023?
As Martin Luther King Jr. Day, also known as MLK Day, is a federal holiday, the majority of banks and financial institutions are closed.
Branches will be closed, as will the stock market, and while ATMs and online banking services will still be available, transactions won't process until the following business day.
According to the Federal Reserve Bank, "all nonessential federal offices and many financial institutions are closed for business."
Institutions aren't required to close in observance of the holiday, and the Federal Reserve Bank website states that "each state decides whether to legally observe a federal holiday."
The following banks will be closed on Monday, January 16:
- Bank of America
- Chase
- Citibank
- Capital One
- PNC Bank
- Santander Bank
- TD Bank
- Truist
- Wells Fargo
What Else Is Closed on Martin Luther King Jr. Day 2023?
The U.S. Postal Service's post offices will be closed and postal services suspended on Martin Luther King Jr. Day.
USPS will not be delivering mail on January 16, but post offices will reopen and full mail delivery will restart on January 17.
Priority Mail Express, however, will be operating on the federal holiday as it runs "every day, all year, with limited exceptions."
Martin Luther King Jr. Day is one of the seven paid-leave days that Amazon gives to its employees, so the company will not be delivering again until Tuesday, January 17.
The UPS will be open, though, and pickup and delivery services are both available, according to the company's website. However, customers should note that "UPS SurePost and UPS Mail Innovations deliveries will require one additional business day's time in transit due to the Federal (USPS) holiday."
FedEx services will be available on MLK Day, with the exception of FedEx Express and FedEx Ground Economy, which will be operating a modified service.
Uncommon Knowledge
Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.
Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.
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