Are Banks Open on Veterans Day 2020

Are Banks Open on Veterans Day 2020

Are Banks Open on Veterans Day 2020

Veterans Day is a federal holiday. Therefore, certain things are closed for the day. Banks are one of those things. If you need to go to the bank the week of November 11, 2020, then you should probably plan to go either before or after the actual date.

What is Veterans Day?

Veterans Day is a federal holiday that honors and recognizes that contributions of people who have served in the American Armed Forces. Although it originally started specifically to honor the veterans of World War I, today the holiday recognizes those who have served at any time in America’s history. In other words, whether someone served during a war or a time of peace, Veterans Day recognizes their efforts.

Veterans Day 2020

2020 marks a few key anniversaries of Veterans Day:

  • 30 years since the beginning of Desert Shield
  • 30 years since the end of the Panama Invasion
  • 70 years since the beginning of the Korean War
  • 75 years since the end of World War II

The latter is a particularly important one since thankfully we haven’t had another world war since then. World War I was supposed to be “the war to end all wars.” When it finally ended, the president created Armistice Day to recognize veterans. But then another world war occurred, and Armistice Day became Veterans Day.

When Is Veterans Day?

Veterans Day is on November 11th each year. However, if that falls on a Sunday, then the federal holiday is recognized the following day.

This year, November 11th is on a Wednesday. Therefore, Veterans Day is right in the middle of the week. It’s a weird time for things to close. However, it does make working around the closures more convenient. If you need to go to the bank, then you can plan to do so on Tuesday or Thursday, knowing that the bank will close Wednesday, November 11th, 2020 for Veterans Day.

So, Banks Are Closed on Veterans Day

The answer is yes, banks are closed on Veterans Day. There are ten federal holidays during which banks usually close.

Every country defines their own holidays. America has federal holidays. We also call these bank holidays. As the name notes, banks close to recognize these holidays. In addition to Veterans Day, those bank holidays are:

  • New Year’s Day
  • Martin Luther King, Jr. Day
  • Washington’s Birthday (Presidents Day)
  • Memorial Day
  • Independence Day
  • Labor Day
  • Columbus Day
  • Thanksgiving Day
  • Christmas Day

You might notice that Memorial Day is also on the list. Memorial Day, celebrated in May, is another day of the year for celebrating veterans. However, that holiday specifically honors those people who died serving their country. It’s another important holiday for veterans. Banks close for both holidays each year.

Exception: TD Bank Will Be Open

There is one exception to the rule that banks close for Veterans Day. TD Bank chooses to operate on some federal holidays, including Veterans Day. If you are a TD Bank customer then you can take advantage of this unique exception. You can use regular TD Bank locations as well as TD Bank branches located inside of supermarkets.

Are Credit Unions Open on Veterans Day?

Like banks, most credit unions close for Veterans Day. If you have business to do at your local credit union, then you should do so on November 10th or November 12th this year.

How to Do Banking on Veterans Day

Unless you use TD Bank, you can’t do in-person banking on Veterans Day. However, you can still take advantage of banking services that don’t require face-to-face contact with a bank representative. For example, you can still use the ATM to complete many different types of transactions. Additionally, you can make use of online banking services. If you have some bills to pay or you want to move some money around, then you can still do those things on Veterans Day.

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