One of the most important days on every annual calendar is attributable to election days. Yet, that becomes all the more important every four years, when the Presidential elections in the United States take place. With the event being so important for so many people, there are generally raised questions regarding whether banks and similar institutions are closed on election day.
For modern voters, that process becomes increasingly more convoluted with the host of different voting options available. When election day arrives, there will already have been a plethora of individuals who have already cast their votes. This would occur through early voting windows and mail-in ballots.
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However, that does not diminish the important event that election day has become for Americans. Subsequently, this day can affect a host of different individuals for different reasons, especially around the unknown of what establishments could be operating on differing schedules throughout the day.
Therefore, this guide will seek to answer if banks are closed on Election Day. Moreover, it should present a better idea of what you could expect from the national day of importance, and how to best prepare for the situation.
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There may be confusion regarding how the date is perceived on a federal level. Specifically, if it is observed as a holiday by lawmakers. Yet, election day is not a federal holiday. What this means is that it does not enjoy the similar restrictions that such a day would impose.
For Federal holidays, banks and other businesses would certainly be closed. Important events like Christmas Day, New Year’s Day, and Thanksgiving are some of the more well-known federal holidays. However, there are others recognized by the government that are less festive.
As of the election to take place in 2024, Election Day is not recognized as a federal holiday. This indicates that banks and other establishments are under no pretense to close or limit hours of operations.
Conversely, it does not ensure that this will not be the case. Specifically, just because it is not a holiday on a federal level, does not mean there are no changes to be expected. So, let’s delve a little bit further into the operation of banks for the key voting day.
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Considering that there is no Federal Holiday in place, banks are not expected to be closed on Election Day. Indeed, many businesses will be operating on normal schedules, and this includes a host of financial institutions.
To this point, there has been no update to well-known banks like Wells Fargo and Bank of America expecting alterations in business hours on Election Day. This continues for regional banks, as they are expected to be open and operational on the voting day.
Although many states recognize voting as a state holiday, it does not come with the same kind of requirements from the federal level. However, we recommend contacting your local bank to ensure that they will be open and fully operational on Election Day.
Disclaimer: Our articles are NOT financial advice, we are not financial advisors. All investments are your own decisions. Please conduct your own research and seek advice from a licensed financial advisor.
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