Is it true that FDIC can delay payment to a depositor for 99 years, IF NOT... for how long?

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Is it true that FDIC can delay payment to a depositor for 99 years, IF NOT... for how long?

2006-06-17 09:59:55 · 3 answers · asked by rcwehner 1 in Business & Finance ➔ Personal Finance

3 answers

http://www.fdic.gov/regulations/laws/

2006-06-17 10:05:57 · answer #1 · answered by j_ardinger 5 · 2⤊ 0⤋

Payment can be delayed but not for 99 years. If it is a very large payment then you can expect a delay of up to 2 weeks while Homeland security does their thing to make sure you are not laundering money of shifting it to support terrorism.

2006-06-17 17:23:46 · answer #2 · answered by smgray99 7 · 0⤊ 0⤋

I don't believe that is true. Most times a deposit will be held for 24 hours or up to 14 business days. Check with your financial institution or the FDIC.

2006-06-17 17:08:45 · answer #3 · answered by Anonymous · 0⤊ 0⤋