That's a scary thought. Most employers have forced their workers to use direct deposit, we have been encouraged to pay our bills on-line.
If my CU closed right after a pay-day I would be out one-half months pay. We have some money in two other banks but if they shuttered at the same time we would have no way to pay bills or buy food or gas. (Note to self: Stock up on ammo, add cash to the "Hurricane supplies".)
Yes, almost everything has become “direct deposit”
Govt checks, social security, military pay
People never see “their” money, it goes straight into...a bankrupt bank (mine is Bank Of America)
I think keeping some easy-to-touch cash onhand is becoming a good idea. Also keeping the car topped up with gas and some survival supplies (water, energy bars, candles and fire making, water purification tablets and for us - Dog food!) having road maps to get to a safe place with family support system inplace, via secondary routes, if that is an option.
Do you watch the Karl Denninger Market ticker blog? Has useful information