Spurred by the MtGox implosion thread and by a TV episode in which "real", presumably USD funds in US banks were stolen by an evildoer who illegally transferred the money elsewhere, I am wondering: What protections do US dollars in FDIC-insured US banks have against fraudulent electronic transfers? Would a victim of such a theft be likely to see all, some, or none of the stolen money reimbursed by an insurance policy?
Electronic transfers have not replaced checks in the United States to the same degree as in most other Western countries. What are the technical and cultural reasons underlying this?
Can you electronically transfer money from one US bank account to another? [more inside]
Why don't bank credits/debits post instantly? [more inside]
I'm a freelance web developer, and I've recently set up a PayPal business-level account to take payment from clients who prefer that method. But I'm growing more and more upset with the fact that it inevitably takes about a week from the day I get the notice of pending payment for the money to actually show up in my PayPal account, and another 4-5 days to get it out and into my bank account. What's the holdup? [more inside]