Avoid Holiday Delays — Manage Your Money in Every Season

Holidays are great for relaxing and spending time with family and friends. Holidays usually mean a little bit of planning, too, like making reservations, grocery shopping for a special dinner, or picking out a perfect gift. Don’t forget, official holidays also can mean a day off for your financial institution, so be sure to add getting your banking done early to your list of holiday preparations.

What are “bank” holidays? Most financial institutions close on the days designated by the Federal Reserve as holidays. To know when your favorite UFCU branch is open, check our list of holiday closings and our locations page for regular hours.

How can an official holiday affect my finances? Your local branch likely will be closed, so any transactions that require an in-person visit will need to be done before or after the holiday. You can always access your accounts through online, mobile, or automated phone banking, get cash from most outdoor ATMs, and use your credit and debit cards. You also can initiate basic transactions — like deposits, online transfers, or wire transfers — with online banking, your mobile banking app, or automated phone banking, but most of these transactions won’t be completed until the next business day. That means your account balances won’t be updated until the next business day as well. Keep in mind that there is no mail service on official holidays and that most companies’ payroll and payment processing departments have the day off too, so paychecks and bill or loan payments could be delayed by a day or two.

Tips to avoid hiccups during the holidays:

• Wait a day or two for deposits to clear. Deposits made on a holiday won’t show up in your account until the next business day. Also, checks will need an extra day to clear since that process is paused for a holiday.


• Pay bills and make loan payments a few days earlier than usual. If you pay bills or make payments automatically online, check your bill pay settings and make a one-time adjustment to make sure the transaction clears before the bill is due. If you pay by mail, send your bill or loan payment a few days early. If you can’t get a check in the mail early, pay in person, electronically, or by phone. However you pay, make sure your payment arrives the business day (usually a weekday) before the holiday.


• Know what day you will be paid. If payday falls on an official holiday, most companies will process paychecks the following business day, even when they rely on direct deposit. Also, if your paycheck is mailed out a day or two before the holiday, it may take a day longer to get to you since there is no mail service on holidays.


• Make last-minute deposits electronically. Many financial institutions’ cut-off time for electronic deposits are later in the evening than their office hours. If you want to make a deposit late the day before a holiday, an electronic deposit may give you a better chance to see that money in your account before the holiday.


• Keep track of your account balance. Since any electronic transactions you make on a holiday won’t show up in your account until the next business day, you may want to keep track of your checking account or credit card balances on paper to avoid accidentally overdrawing your account or going over your credit limit.

Add banking to your holiday planning, and you can enjoy your days off knowing you’ve got your basic banking needs covered!