One of the Banks we had an account with was closed/Seized by the FDIC last Friday with no prior notice or warning, now for the good news, all accounts are insured by the FDIC and we got a check today, a week later, and took it to Bank of America where we opened a new account last Monday.... figured the check was good since it's from the FDIC, and it probably is, but a seven day hold is now placed on all FDIC checks since the "Bad Guys" have gotten so good at counter fitting FDIC checks and Banks don't know real from counterfeit so all of these checks have a 7 day hold or until they clear, so if your bank goes belly up your looking at a minimum of 15 days before you have access to any of that money.... Luckily our money was split within two different Banks.
Posted on Jul 3, 2009, 4:35 PM from IP address 74.232.181.170