I was checking around about getting a bank account now that I will be getting SSD. Well, my boyfriend told me that at his bank they said that all banks are required to hold SSD/SSI checks for 9 days before they can cash them or deposit the money into your account. Why is that? The money is guaranteed to be there more than any other check! So why social security checks? Do they hold direct deposits from social security too for 9 days? Isn't there anywhere that cashes them for a fee? (like a check that may be from $2000 to $10000)?

Thanks ahead of time. I know it will be a very long time before mine or my son's back pay comes & I have plenty of time (months and months) but I am checking now.