Social Security Paper Checks Will Still Be Mailed–For Now
Several million consumers have missed the deadline for making the switch to paperless Social Security benefits, but the government will not cut them off from receiving their benefits.
March 1 marked the deadline for Social Security and other Federal benefit recipients to make the change from receiving a paper check to an electronic payment or a prepaid debit card.
The government started a cost-saving program two years ago called Go Direct to eliminate the paper checks distributed for Social Security, Veteran Affairs, Supplemental Security Income and other government programs. According to Treasury officials, a mailed check costs the government 92 cents more than a payment made by electronic transfer. In addition to the cost savings, officials say the direct deposit or debit cards are more secure for the consumer.
Over 90 percent of these payments are being made electronically. But as of last week, there were several million consumers who had not switched their payments. Those consumers will still receive their checks in March but could be contacted by someone from the Treasury Department.
Consumers can get help making the switch by calling 800-333-1795 or online at GoDirect.org.
This entry was posted in Credit Card News and tagged debit cards , Social Security , direct deposit , GoDirect , government cutbacks , Supplemental Security Income , Treasury Department , Veteran Affairs
The information contained within this article was accurate as of March 4, 2013. For up-to-date
information on any of the terms, cards or offers mentioned above, visit the issuer's website.