How Federal Holidays Affect Your Accounts

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When a Federal holiday occurs, you may notice that a deposit or transaction seems to have disappeared from your account. Royal Bank operates in real-time so you can see transactions on your account as they happen. Because the government is closed on Federal holidays, these real-time transactions (deposits and withdrawals) will drop off in order to recalculate balances from the holiday. These transactions will re-appear on your account by the next business day, which is every day except Saturdays, Sundays and Federal holidays.

Many employers who use direct deposit for payroll have arranged their payment schedule around Federal holidays; however, you may want to check with your employer prior to a payday that lands on one of these days to confirm when you can expect the deposit. If you receive a government direct deposit like Social Security, your funds will typically be received on the business day before the holiday.