Business Checks

When your bank that you’ve been using for a while, and it has failed, what do you do with the debt and existing checks? FDIC allows a failed bank, when its purchased by another bank, that the existing customers are allowed to use their existing business checks, debit/credit card, and personal checks. When the personal or business checks runs out, the new bank will require you to update the checks.

Alot of people worry that the checks they have already bought wont be able to be used. That is incorrect. When you order new checks, you’ll be assigned a new routing number and your account number will remain the same. Its bad enough to have a bank fail, but to have your info changed is another hassle. They will do what they can to make it easy on you. Dont forget to keep copies of your bank statements with the old bank for at least 2 years. That way, if anything happens, you’ll be able to use those statements as as backup.