Quote:
Originally Posted by daepp
My experience has been that they are ready with a check for your insured deposit (if you want it) the Monday morning following a Friday afternoon takeover. In other case, they simply sell your deposits to another bank, making for a seamless and largely uneventful transaction. You then have the option of maintaining your relationship with the new bank or not.
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Yep, the FDIC does not mess around. You walk out of the bank with your check the same day you go in.