Are Banks Open on Memorial Day?

Memorial Day is almost here, which has many wondering if banks are open on Monday, May 29.

American flag pennants strung together in backyard
(Image credit: Getty Images)

Are banks open on Memorial Day in 2023? That's a question plenty of folks are asking just ahead of the holiday that commemorates fallen military personnel. The answer is no, banks are not open on Monday, May 29.

The federal holiday also unofficially marks the start of summer vacation season, and it's likely to be a busy one. According to AAA, travel demand is expected to be "one for the record books." For Memorial Day, specifically, AAA estimates more than 42 million Americans will travel 50 miles or more from where they live, up 7% over last year.

Anyone planning to travel this summer can certainly find plenty of deals. Kiplinger editors recently highlighted three ways to save on booking a cruise. Additionally, those looking for a cheap getaway might want to consider flying, with the price of domestic flights down around 19% from last year. Looking to go overseas? We found five ways to save money on summer flights to Europe.

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Bankers are not the only ones who get to enjoy an extended weekend. For those wondering "is the stock market open on Memorial Day," the answer to that is no. Memorial Day is one of many stock market holidays in 2023. Bond traders also get the day off, though their long weekend starts early. Specifically, bond markets will close at 2 pm Eastern on Friday, May 26. 

For those curious about 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.

Below, we feature a full schedule of all U.S. bank holidays for 2023. Please note that the list includes Juneteenth – the June 19 holiday commemorating the end of slavery – which became the 11th federal holiday by vote of Congress in 2021.

Bank Holidays 2023

Swipe to scroll horizontally
DateDayHoliday
January 2MondayNew Year's Day (Observed)
January 16MondayMartin Luther King, Jr. Day
February 20MondayPresident's Day
May 29MondayMemorial Day
June 19MondayJuneteenth
July 4TuesdayIndependence Day
September 4MondayLabor Day
October 9MondayColumbus Day
November 11SaturdayVeterans Day
November 23ThursdayThanksgiving Day
December 25MondayChristmas Day

* This is the recommended bank market holiday schedule from the Federal Reserve. This schedule is subject to change.

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Karee Venema
Senior Investing Editor, Kiplinger.com

With over a decade of experience writing about the stock market, Karee Venema is the senior investing editor at Kiplinger.com. She joined the publication in April 2021 after 10 years of working as an investing writer and columnist at Schaeffer's Investment Research. In her previous role, Karee focused primarily on options trading, as well as technical, fundamental and sentiment analysis.