Are banks open on Christmas? This is a question many are asking with Christmas falling on Monday, December 25, in 2023.
The answer is no. Christmas is one of several federal holidays this year, so banks will not be open.
Banks will also be closed on Christmas Eve this year, considering it falls on a Sunday. They are generally open on Christmas Eve, though specific branches may close early.
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As for stock market holidays – particularly for those asking "is the stock market open on Christmas" – both the stock and bond market typically close early on Christmas Eve and are closed for a full day on Christmas. However, given that Christmas Eve falls on a Sunday in 2023, market participants will get the entire day off.
For those wondering what time does the market open for regular trading hours, both the Nasdaq Stock Market and the New York Stock Exchange (NYSE) are open from 9:30 am to 4:00 pm Eastern time Monday through Friday.
How to cut costs this holiday season
The holiday season is certainly a time when folks are looking to cut costs. Kiplinger's personal finance team has been busy crunching the numbers on cheaper options to our everyday tasks, including using the oven vs an air fryer, the dishwasher vs hand washing and electric heaters vs radiators.
You also don't need to tip everyone. While it is certainly welcome and heartening to reward the people who have helped you throughout the year, not knowing who to tip or by how much can create anxiety. Kiplinger's holiday tipping guide provides guidance.
Below, we feature a full schedule of all U.S. bank holidays for 2023.
Bank Holidays 2023
| Date | Day | Holiday |
|---|---|---|
| January 2 | Monday | New Year's Day (Observed) |
| January 16 | Monday | Martin Luther King, Jr. Day |
| February 20 | Monday | President's Day |
| May 29 | Monday | Memorial Day |
| June 19 | Monday | Juneteenth |
| July 4 | Tuesday | Independence Day |
| September 4 | Monday | Labor Day |
| October 9 | Monday | Columbus Day |
| November 11 | Saturday | Veterans Day |
| November 23 | Thursday | Thanksgiving Day |
| December 25 | Monday | Christmas Day |
* This is the recommended bank market holiday schedule from the Federal Reserve. This schedule is subject to change.
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