Is the day after Thanksgiving a banking holiday?
Is the day after Thanksgiving a banking holiday?
user
That depends on the type of bank.  The traditional answer to this is that only “branch banks” (which are smaller, independent banks, with a physical location in a town) are closed for this holiday, while “state-chartered” banks (which are larger banks, generally with more branches in different cities or states) are open.  So, to summarize, “branch banks” are closed for Thanksgiving, but state-chartered banks are open.
assistant
Hmm. I bet they still take money out of your account though. Why do banks even close at all?
user
I think they are “closed” in the sense that people can’t access the banks, not necessarily that they don’t accept money.
assistant
Yeah, but why are federal holidays used to close down banking?
user