Banks reportedly not taking IndyMac checks

[PatriotG]

Banks reportedly not taking IndyMac checks (http://www.msnbc.msn.com/id/25719584/)

"Sheryl MacPhee said she waited in line two hours Tuesday at an IndyMac branch in San Marino to liquidate a certificate of deposit. But when she took it to a Washington Mutual branch in South Pasadena to deposit, she said a manager told her their new policy was not to accept IndyMac checks."

One bad bank wont take a check from another. This drips with irony!

[Cowlesy]

Rule # 1.

Don't take a check from a failed bank.

:)

[rapidtrends]

Rule # 1.

Don't take a check from a failed bank.

:)

lol =p

[XNavyNuke]

Rule # 1.

Don't take a check from a failed bank.

:)

But, but, the FDIC promises that they are good! [/whine]

XNN

[Johnnybags]

then and default. Obviously, everyone and their brothers credit slate will have to be wiped clean before this fiasco is over. Bank goes under, cannot pay bills is not your problem, its the FEDS. I'd send the bills to the FDIC and or Uncle Ben and Stuttering Hank. The bouncing Indimac Fed bank checks, too funny.

[tmosley]

then and default. Obviously, everyone and their brothers credit slate will have to be wiped clean before this fiasco is over. Bank goes under, cannot pay bills is not your problem, its the FEDS. I'd send the bills to the FDIC and or Uncle Ben and Stuttering Hank. The bouncing Indimac Fed bank checks, too funny.

It's not funny if it's a check for your entire life savings, minus what the bank stole as they collapsed.

[ItsTime]

I was just telling my fiancee this last night. Banks will LAUGH when you show up with an indy check.... and why wouldnt they? Refuse ALL bank checks, they must give you $$.

[Zippyjuan]

Wasshington Mutual had people over at Indy banks handing out business cards- trying to get them to bring their accounts over to them. Now they are making it hard for them to do so? With electronic banking, it does not take eight weeks for a check to clear.

[torchbearer]

I think the max a bank can put a hold on a check is 20 days.

Too bad legal tender laws don't cover checks, or does it?

[danberkeley]

Wasshington Mutual had people over at Indy banks handing out business cards- trying to get them to bring their accounts over to them. Now they are making it hard for them to do so? With electronic banking, it does not take eight weeks for a check to clear.

right. but the FDIC shut down IndyMac's entire system. people couldnt withdraw from ATMs nor access their accounts online. blame the feds for "making it hard for them" to move their money to another institution.