Federal Bank Holidays You Need To Know About

Written by: John Stearns

May 22, 2023

Holiday Weekends & Bank Closures

A missed payroll doesn’t make for a great holiday weekend. You wake up to emails from employees saying they weren’t paid and begin scrambling to find out what’s wrong only to realize you forgot there was a federal bank holiday. Forgetting is the worst. Usually, all it takes to avoid catastrophe is a simple reminder.

Mark Your Calendars

Here are the upcoming federal bank holidays for 2023, according to the Federal Reserve Board of Governors:

Memorial Day – May 29
Juneteenth National Independence Day – June 19
Independence Day – July 4
Labor Day – September 4
Columbus Day – October 9
Veterans Day – November 11*
Thanksgiving Day – November 23
Christmas Day – December 25

*Saturday – the Federal Reserve Banks are open but the Board of Governors is closed on November 10, 2023

Plan Ahead

Stay on top of these federal bank holidays by adding them to your calendar and turning on notifications. You can also set a reminder a couple of weeks in advance to make all the preparations you need to make payroll processing run smoothly. If a holiday falls on a Monday and your state permits, you can make a request to your bank for payroll to be dated for the Tuesday following. Always be sure to notify employees if their payday is being changed, especially if that change causes any kind of delay.

At ConstructionPayroll.com, we strive to make sure all of our customers know when a holiday that affects payroll is coming up. We don’t want your employees missing their payday and we do want you to be able to enjoy your holiday stress-free. Follow us on Facebook, Instagram, and LinkedIn to receive reminders about upcoming federal bank holidays!