We have not had a bank account for 4 years now.
Anyone who does is a fool.
I've gotten hard copy checks from the VA but they prefer to do it direct deposit. I cannot foresee any situation where I'd ever tell someone giving me money that I'll only take it in paper form (check or cash) if it's for my labor or monthly pay.
Now... if it's from an individual.... Cash speaks nice and clearly...
The banks will get scalped this year and your money will be gone.
I have posted on this and I have sited the sources, FDIC and Bank of England white paper, also Harvard, also SilverDocs.com