Banks in the United States are open on Christmas Eve. Christmas Day is a recognized banking holiday, but not Christmas Eve. As a benefit to their employees, some bank branches do close earlier than normal on Christmas Eve.
The decision to close early on Christmas Eve is made on a bank-by-bank and even a branch-by-branch basis. On a similar note, U.S. banks do not close on New Year's Eve but are closed on New Year's Day. As is the case with Christmas Eve, some banks and branches elect to close earlier than normal on New Year's Eve as a benefit to their employees.