Martin Luther King Jr. Day is celebrated throughout the United States on Monday, January 16.
The federal holiday falls on the third Monday in 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 famous “I Have a Dream” speech from the steps of the Lincoln Memorial in Washington, D.C.
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Although his birthday was approved as a federal holiday in 1983, all 50 states only began celebrating it as a government holiday in 2000.
news week has everything you need to know about how banks will operate when the Martin Luther King Jr. holiday rolls around the country.
Are the banks open on Martin Luther King Jr. Day 2023?
Since Martin Luther King Jr. Day, also known as MLK Day, is a federal holiday, most 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 be processed until the next business day.
According to the Federal Reserve Bank, “all non-essential federal offices and many financial institutions are closed to the public.”
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Institutions are not required to close in observance of the holiday, and the Federal Reserve Bank’s 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
- To pursue
- Citibank
- capital one
- PNC Bank
- Santander Bank
- TD bank
- truist
- fargo wells
What else is closed on Martin Luther King Jr. Day 2023?
US Postal Service post offices will be closed and postal services suspended on Martin Luther King Jr. Day.
USPS will not deliver mail on January 16, but post offices will reopen and full mail delivery will resume on January 17.
Priority Mail Express, however, will be operating on the federal holiday as it runs “every day, year round, with limited exceptions.”
Martin Luther King Jr. Day is one of seven days of paid vacation Amazon gives its employees, so the company will not deliver again until Tuesday, January 17.
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However, UPS will be open and pickup and delivery services will be available, according to the company’s website. However, customers should note that “UPS SurePost and UPS Mail Innovations deliveries will require an additional business day in transit due to a federal (USPS) holiday.”
FedEx services will be available on MLK Day, with the exception of FedEx Express and FedEx Ground Economy, which will operate modified service.