Columbus Day, also known as Indigenous People’s Day, is falling on October 10, 2022, this year. Many people are wondering if Banks are open across the United States or not on Columbus Day 2022 since it’s a federal holiday. Find that out here.
The holiday which falls on the second Monday of October every year often makes grocery stores, schools, and post offices observe a day off. People also get a holiday from their jobs while college students don’t have to go to their colleges.
When people have a holiday, they tend to think about getting their bank-related work done. If you are one of them, scroll down and read further before moving a step out of your house.
Are Banks Open on Columbus Day 2022?
No. Banks are not open on Columbus Day 2022 as it’s a federal holiday. All Federal Reserve Banks will be closed on Indigenous People’s Day. This includes Bank of America, Citibank, Wells Fargo, Goldman Sachs, JPMorgan Chase, U.S. Bancorp, and any other bank in the US.
If you have planned to visit the local branch of your bank this Monday, scrap the plan and instead utilize it to celebrate the federal holiday. You won’t be able to get the task done as all branches of the Banks across the US will stay closed on Columbus Day 2022.
What About the ATMs and Online Banking Services?
The ATMs and online banking services via bank apps and websites will be running as usual. They won’t be halted and you can get your tasks done without visiting the local branch. You can easily get cash via the ATM if you get an urgent need.
However, remember there’s a daily cash withdrawal limit for ATMs. This depends on who you bank with as each bank or credit union follows its own policy. The daily ATM cash withdrawal limit ranges from $300 to $1,000 a day.
You can visit your bank’s website to find out the exact figures. If you have an upcoming need for big amounts of cash on Columbus Day, it’s better you make the arrangements beforehand or later.
Will the Stock Market be Open on Columbus Day 2022?
Yes, the Stock Market will stay open and functional on Columbus Day 2022. You’ll be able to perform basic operations like trading, lending, and investing. The stock market will stay open between the usual time of 9:30 AM to 4 PM ET.
However, the Bond Markets will be closed on Columbus Day 2022 as they are operated by the Federal Reserves and it’s a federal holiday. You’ll have to stop your tasks related to them for a day on Monday.
A lot of operations across the United States will stay closed on the federal holiday falling this Monday. It’s better you leave the chores for a day and celebrate a relaxing day off from all the work and other responsibilities.
There’ll be plenty of ways to celebrate Columbus Day across your city. Find the perfect spot and visit there on time. What are your plans for the day? Feel free to share them with us in the comments.