Is MLK Day a Holiday? Are Banks Closed on MLK Day?

Are Banks Closed on MLK Day
Photo: William H. Alden / Stringer / Getty Images

After many years of opposition and delay, Martin Luther King Jr. Day was declared a federal holiday in the United States. It is observed on the third Monday of every January.


Martin Luther King Jr. (MLK) was a visionary who saw the dream of an unsegregated America and worked towards it. His nonviolent protests against the discrimination of black people made him an icon who was respected and loved by people of all races in America. He was born on January 5, 1929 and MLK Day falls on the third Monday of January. This year MLK Day will be on on January 16, 2017. Is MLK Day a holiday? Are banks closed on MLK Day? We will tell you everything you need to know about the holiday.

Is MLK Day a Federal Holiday?

Photo: Ted Williams/Getty Images

Photo: Ted Williams/Getty Images

The campaign for declaring a federal holiday in King’s honor began immediately after his assassination in 1968. In 1983, President Ronald Reagan signed the holiday into law, and it was observed three years later. So, yes, MLK Day is a federal holiday in the United States. The holiday was observed for the first time on January 20, 1986, and on January 17, 2000, MLK Day was observed throughout all 50 states.

Work Goes On

Though MLK Day is an official holiday, not all establishments are closed. This is because not all national holidays require businesses to remain open. Even though many schools are closed for Martin Luther King Day, some will be open and hold seminars of King’s message.

MLK Day Banks’ Working Hours

Day Opening Hours Closing Hours Status
Monday, January 16, 2017 Closed Closed Closed

All banks are closed on Monday, January 16, 2017, for MLK Day. Anything payments made over the weekend will be processed on Tuesday, January 17, once business resumes.

Slow Start

is mlk day a federal holiday

Photo: Alex Wong/Getty Images

Despite MLK Day being declared a federal holiday, there were still pockets of resistance to it. Even though the entire country now observe the holiday, this was not always the case. In New Hampshire, the holiday was known as “Civil Rights Day” until 1999, as they did not recognize Martin Luther King Jr. Day. Some states have combined commemorations of King’s birthday with other occasions.

mlk day bank holiday

Photo: Express Newspapers/Getty Images

Time Is Money

MLK Day is a federal holiday in the United States, and all banks will be closed. So make sure all pressing matters are resolved as soon as possible. Otherwise, you can head over to your bank on Tuesday, January 17.

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Martin Luther King Day is observed on the third Monday of January. Since January 16, 2017 is a federal holiday, ... Click here to read more


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