AMERICANS must plan ahead for any trips to Bank of America soon, as it will close all 3,800 locations for an entire day.
Financial institutions like Chase Bank, among others, will also not be an option during a nationwide banking blackout.
Bank of America is closing all of its branches for 24 hours soon (stock image)[/caption]
Consumers will still have access to ATMs (stock image)[/caption]
The mass and temporary shutterings come in honor of Labor Day, which falls on September 1 this year.
Labor Day is always celebrated on the first Monday in September, and serves as a national commemoration to recognize the contributions and achievements of America’s workforce.
It’s also a holiday recognized by the Federal Reserve.
Most banks, including Bank of America, Chase, and Wells Fargo, strictly follow the holiday schedule determined by the Federal Reserve for the year.
That schedule includes Labor Day, which means thousands of branch locations will be unavailable on September 1.
Those who just need access to ATMs will still be able to do so, and online services through Bank of America’s mobile application will still function as normal.
However, transaction processing will be delayed until the following business day on September 2.
Transactions can still be made on Labor Day, like deposits or transfers, but they will remain pending and unposted until afterward.
THINGS TO CONSIDER
Pauses like this on the first of the month can be complicated for some Americans, as many have monthly mortgage, rent, and credit card payments that are scheduled then.
It’s best to prepare to pay ahead of time if possible.
If not, so long as the transaction shows that consumers paid on September 1, it shouldn’t be determined late.
Again, any bank branch services like opening safe deposit boxes, working with a staff member on a personal loans or business loans, or obtaining investment services must wait until normal operating hours on September 2.
Account holders will also find themselves in a similar situation on Columbus Day/Indigenous Peoples Day, which falls on October 13 and is on the Federal Reserve Holiday Schedule.
Others for the remainder of 2025 include Veterans Day (November 11), Thanksgiving Day (November 27), and Christmas Day (December 25).
Federal Reserve Holiday Schedule 2025
- New Year’s Day – January 1
- Martin Luther King Jr. Day – January 20
- Washington’s Birthday – February 17
- Memorial Day – May 26
- Juneteenth National Independence Day – June 19
- Independence Day – July 4
- Labor Day – September 1
- Columbus/Indigenous Peoples Day – October 13
- Veterans Day – November 11
- Thanksgiving – November 27
- Christmas Day – December 25
It’s also important for Americans to keep in mind that banks and branches that follow the Federal Reserve’s rules will be open on the preceding Friday for any holidays that fall on a Saturday.
If the holiday is on a Sunday, banks and branches will be closed on the following Monday.
CASH BONUS
Bank of America customers were also offered a chance at $300 in free cash earlier this summer.
The funds came as part of a bonus for opening a new checking account, specifically the Advantage Plus Banking option.
While that deal ended on July 31, there’s still a chance at $325 for those who open an Everyday Checking account with the financial institution.
Interested consumers can sign up online and must make $1,000 or more in direct deposits within 90 days of opening the account to get the money.
The offer ends on October 15, with full terms and conditions on Bank of America’s website.
The US Sun also has all the details on the truth behind the new “exploitative” overdraft law at Bank of America and competitors.
A man is also fighting with Chase Bank to recover $185,000.
