FAQ - Banking Holidays

Due to banking institutions being closed, your buying power may be affected in a number of ways. Please refer to the examples below to see which of these might apply to you.

Unsettled deposits will be pushed back 1 business day before being fully available. This will mean that unsettled deposits will be unavailable for trading on Options, Non-Marginable Stock (Pink sheets, OTC, Penny stocks), Futures, Forex, or Mutual Funds for 1 additional business day.

Cash accounts may be impacted by trade settlement push back, Charles Schwab uses Buy Side Settlement, meaning your initial purchase of a security needs to be settled before funds can be released for trading again. This means if you closed a position that is still in settlement, the funds will not be released for trading until that initial purchase has settled.

Stock trades made up to 2 business days prior to a banking holiday; and Option Trades made the business day prior to the holiday will settle 1 business day later than usual. 

Market Hours

In observance of a federal banking holiday, Federal Reserve Banks and US Banking Institutions will be closed. However, NYSE, NASDAQ, and other US Stock exchanges remain open for trading.

Futures and forex trading are expected to follow normal hours on bank holidays, however, we recommend you check with the individual exchanges: theice.com and cmegroup.com.

Charles Schwab Hours:

Charles Schwab Branches and call centers will follow normal business hours of operation.

Banking Services

As a result of the Federal Reserve Bank closures, the Schwab Payment Services team will not be processing any transactions on the day of the holiday. These transactions include:

• Incoming and outgoing wire transfers
• Incoming and outgoing electronic funding (ACH)
• Incoming and outgoing check requests
• Stop payment requests
• Returned checks
• Check writing
• Bill pay