Thanksgiving, which is celebrated on the fourth Thursday of every November, falls on November 25 in 2021.

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The day after Thanksgiving—Black Friday—is a major event that sees retailers across the country offering slashed prices on many items, marking the unofficial start of the Christmas shopping season. Accordingly, many employees would like to receive their paychecks on time to get some deals during the Black Friday shopping extravaganza.

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But will my paycheck be delayed on Thanksgiving, which is a federal holiday?

How Thanksgiving Affects Payment

Since it is a federal holiday, many banks (including the Federal Reserve) are closed on Thanksgiving.

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Some banks may offer certain services (such as drive-up banking options) at a shorter time. Check with your local bank branch to confirm available services and hours of operation prior to meeting.

Although some banks may be open, payment services through the Federal Reserve and the ACH (Automated Clearing House) network will not be available on Thanksgiving. Such payments will be processed on the next business day.

Nacha (National Automated Clearing House Association) states that the ACH network processes electronic financial transactions for consumers, businesses, and federal, state and local governments. This includes direct deposit, the payment method by which many employees are paid.

Do we get paid early for Thanksgiving?

The ACH network does not settle payments on holidays or weekends when the Federal Reserve is closed. This applies to both ACH credit (direct deposit) and ACH debit (bill payment).

“Standard industry practice is that paydays that would otherwise be on a weekend or holiday are paid on the first Friday, while bill payments are due and collected on the next business day; in each case in favor of the employee/consumer.” ,” Nacha explains.

During non-holiday periods, if your normal pay day is a Friday, payroll payments by direct deposit are available in workers’ accounts by 9 a.m. local time on that Friday in “nearly all cases.”

According to Nacha, direct deposits sent on Friday mornings may also be available to employees by 5 p.m. local time using the same day ACH capability of the modern ACH network.

Other Federal Holidays in America

below are others federal holiday in the country During which payments and other online banking needs may get affected.

  • New Year’s Day (January 1)
  • Martin Luther King, Jr.’s birthday (3rd Monday in January)
  • Washington’s Birthday (3rd Monday in February)
  • Memorial Day (Last Monday in May)
  • Juneteenth (June 19)
  • Independence Day (July 4)
  • Labor Day (1st Monday in September)
  • Columbus Day (second Monday in October)
  • Veterans Day (11 November)
  • Christmas Day (December 25)