Many people are unsure if banks will be open on Monday because it’s almost Columbus Day, also known as Indigenous People’s Day.
The holiday, which is observed every year on the second Monday in October, falls this year on October 10, giving many people a three-day weekend.
Banks are frequently closed on Columbus Day, but what about post offices, schools, grocery stores, and other establishments?
Find out if you’ll be allowed to visit your neighbourhood Bank of America, Chase, Citibank, and other banks by reading on.
Are Banks Open on Columbus Day 2022?
All banks will be closed because Columbus Day is a federal holiday.
This applies to all US banks, including Bank of America, JPMorgan Chase, Citibank, Wells Fargo, Goldman Sachs, U.S. Bancorp, and others.
Your local branch’s services won’t be available for you to use there. However, ATM cash withdrawals are still possible, and online banking will be accessible.
In addition to being open, the stock market and equity exchanges will be operating normally. However, bond markets will be closed as they take the day off.
Banks Are Closed on All Federal Holidays
On all federal holidays, banks are always closed in the United States. These will be in 2022:
- New Year s Day: Jan 1 (observed on Jan 3)
- Martin Luther King Jr Day: Jan 17
- Presidents Day: Feb 21
- Memorial Day: May 30
- Juneteenth: Jun 19 (observed on June 20)
- Independence Day: Jul 4
- Labor Day: Sep 5
- Columbus Day: Oct 10
- Veterans Day: Nov 11
- Thanksgiving: Nov 24
- Christmas Day: Dec 25 (observed on Dec 26)
What is Columbus Day?
As part of the celebration of Christopher Columbus’ arrival in the Americas in 1492, banks are closed on this day.
Columbus Day praises his accomplishments, but many people would rather honour Indigenous Peoples’ Day because they don’t think Columbus is deserving of recognition.
On behalf of the Spanish monarchs, Columbus set out in August 1492 in pursuit of a new path to the Far East, but he ended up landing in the Bahamas.
Columbus Day was originally observed in 1792, and he was the first European since the Vikings to explore the Americas.
Columbus Day was declared a national holiday by President Franklin D. Roosevelt in 1937, but it has come under fire in recent years.
Since Columbus’ arrival in the Americas marked the beginning of the subjugation of Native Americans, many people opt to observe Indigenous Peoples’ Day instead.
Rather than honouring their oppressor, this day promotes and honours Native Americans and remembers their histories and cultures.