Not all emergency situations that a suburban survivalist needs to plan for are catastrophic or world changing. Some are as simple as a bank failure that would barely make the news, but for those with accounts that are seized it can be a major event: If only for a few days.
As an example from history: The federal government closed and seized Indymac Bank on Friday the 11th of July 2008. Officially, on Monday the 14th, customers were given back access to online services, safe deposit boxes, wire services, etc. The automatic direct deposits and automatic withdrawals were supposed to operate normally during this time frame. Also, officially the ATM machines were supposed to continue to work. During the weekend time frame between the 11th and 14th, all online services including checking balances, account status, online transfers, and bill pay services were offline to all customers. Checking accounts, savings accounts, and IRA were all insured; however mutual funds and annuities were not.
There were numerous reports (mostly online) from customers who were having problems getting access to the funds in their accounts, cashing paychecks, withdrawing funds, etc. On the 17th, Fox News was reporting that many other banks were refusing to cash the checks that the FDIC was giving Indymac customer’s to deposit in other banks. Most of them seemed to be relatively short lived (being resolved within a couple of weeks), but high lights the importance of keeping some cash on hand for this kind of emergency.
Also Note: Officially the FDIC (Federal Deposit Insurance Corporation) under the Federal Deposit Insurance Act [12 USC 1821(F)] does not set a time limit on when depositors must be paid. It simply says “as soon as possible”, which is typically interpreted to mean a few business days.