Published Date: 2012-03-26
Source: U.S. Department of the Treasury, Financial Management Service
Everyone who receives Social Security/Supplemental Security Income or other federal benefit payments by paper check is required by the U.S. Department of the Treasury to switch to an electronic payment option by March 1, 2013. This move will save taxpayers $1 billion over the next 10 years, while ensuring all federal benefit recipients receive their money in the safest, most reliable way possible.
There is less than one year left to ensure people switch to one of the two Treasury-recommended electronic payment options: direct deposit to a checking or savings account or the Direct Express® Debit MasterCard® card.
It’s fast, easy and free for people to make the switch online at www.GoDirect.org or by calling the U.S. Treasury Electronic Solution Center at (800) 333-1795. For direct deposit, people can also sign up at their bank or credit union.