Are the banks open on Columbus Day?

Columbus Day, also known as Indigenous Peoples Day, falls on October 10, 2022, This year. Many people wonder whether or not banks are open across the United States on Columbus Day 2022, as it is a federal holiday. Find out here.

The holiday that falls on the second Monday in October each year often forces grocery stores, schools, and post offices to observe a day off. People are also getting time off from their jobs while students don’t have to go to their colleges.

When people are on vacation, they tend to think about doing their banking work. If you are one of them, scroll down and read further before stepping out of your house.

Are the banks open on Columbus Day 2022?

No. Banks are not open on Columbus Day 2022 as it is a federal holiday. All Federal Reserve Banks will be closed on Indigenous Peoples Day. This includes Bank of America, Citibank, Wells Fargo, Goldman Sachs, JPMorgan Chase, US Bancorp, and any other bank in the United States.

If you’ve been planning to visit your local bank branch this Monday, ditch the plan and use it to celebrate the federal holiday instead. You will not be able to complete the task as all bank branches across the United States will remain closed on Columbus Day 2022.

What about ATMs and online banking?

ATMs and online banking through banking apps and websites will work as usual. They will not be interrupted and you will be able to complete your tasks without going to the local branch. You can easily get cash through the ATM if you need it urgently.

However, remember that there is a daily cash withdrawal limit from ATMs. It depends on who you are dealing with, as each bank or credit union follows its own policy. The daily ATM cash withdrawal limit ranges from $300 to $1,000 per day.

You can visit your bank’s website for the exact numbers. If you have an imminent need for large sums of money on Columbus Day, it is better that you make the necessary arrangements in advance or later.

Will the Stock Exchange be open on Columbus Day 2022?

Yes, the Exchange will remain open and functional on Columbus Day 2022. You will be able to perform basic operations like trading, lending, and investing. The stock market will remain open between the usual time of 9:30 a.m. and 4 p.m. ET.

However, bond markets will be closed on Columbus Day 2022 as they are run by the Federal Reserve and it is a federal holiday. You will need to stop your tasks related to them for a day on Monday.

Many operations across the United States will remain closed on the federal holiday falling on Monday. It’s best to leave the chores for a day and celebrate a day of relaxation away from all the work and other responsibilities.

There will be many ways to celebrate Columbus Day in your city. Find the perfect place and visit it in time. What are your plans for today? Feel free to share them with us in the comments.

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