I can understand why people feel this way but...
About two years ago my bank froze my account without any notification. The only way I found out was that checks started to bounce. They said the SEC hard ordered them to do it.
It turned out to be a case of mis-identification. The SEC was trying to shut down a company with the same name but chartered in a different state. Everything resolved fine for me but it put my company in a big financial bind for a few weeks.
I know my experience was a fluke but my point is, if you think that the money you have in a bank account is yours to use you are mistaken. The bank will always position it self so it will not be put at risk for a loss, they don't care about you.
To me, paper checks, as opposed to ETF, simply provides me with a potential opportunity for access to money in the extreme case. If you are using ETF I would have different companies you get deposits from depositing to accounts in unrelated institutions.