What Are Typical Bank Branch Hours? Holidays And Weekends?

While shifts in the economy tend to force most retailers to adjust their business hours to curtail labor costs, bank branch hours have continued to expand. In order to remain competitive and provide levels of service that meet customer's expectations, banks have shifted from a Monday through Friday 9-5 schedule to being open later and being open on Saturdays.

The term "banker's hours" came about because most banks were open only during weekdays, often opening later than other retail establishments and closing earlier. The term was used with some jealousy by those not in the banking world, because the work hours were much more appealing.

Modern banks are open in the virtual world 24 hours a day, seven days per week. By providing customers with online banking services, including the ability to check balances, pay bills, and transfer funds, and with the ability to manage most deposits electronically, it might be surprising to learn that bank hours are on the increase.

Even though most banks provide service later into the day and on Saturdays (typically for an abbreviated period, although some banks have branches that are open all day on Saturdays), banks are still closed on major holidays. Banks are typically closed for Christmas Day, New Year's Day, Thanksgiving, Labor Day, and Memorial Day. Some banks will also observe closures on Christmas Eve and New Year's Eve, depending on when the related holidays fall in the week. Banks are typically open for business the two days following Thanksgiving, since those are two of the busiest retail shopping days in the year.

Having your bank be closed means that no deposits are typically posted to your account. However, because of electronic debiting, funds are still withdrawn from your account as you spend them. This has reduced the ability people used to have to "float" a check through the weekend.

In order to remain on the competitive edge, most banks have significantly shifted their focus from traditional banker's hours to a customer-centric approach to business. In addition to staying open more hours, banks also offer a much wider array of services than before. Many banks offer insurance and investment options to their customers in addition to checking and savings accounts. Most banks service mortgage, auto, and personal loans. For those wealthy members who maintain large balances, banks even offer personal banking services, in which a dedicated customer service rep is assigned to the account to ensure the needs of the customer are met.

Customers are also given as much opportunity as possible to manage their own banking services. Most banks allow customers to apply for loans, make loan payments, and shop for services through internet portals that are secured through the use of usernames and passwords. Banks truly on the leading edge of technology are offering mobile banking services, in which notifications, statements, and other pertinent information is provided through and tied to the customer's cell phone.

In the future, banking will continue to undergo metamorphosis, with the shift being toward even more immediate services and information, with a strong focus on digital technology.