- Joined
- Mar 24, 2008
- Messages
- 14,502
- Reaction score
- 24
Social Security stops issuing paper checks
Social Security stops issuing paper checks
Posted: 9:27 AM
Last Updated: 4 hours and 1 minute ago
By: LIz Flynn
WEST PALM BEACH, Fla. - Getting your Social Security check in the mail will soon be a thing of the past. The U.S. Department of the Treasury is starting to make some big changes to how you receive your Social Security check and other federal benefits.
Starting today, May 1, anyone who applies for Social Security, Veterans Affairs or other federal benefits will have to choose an electronic payment. Paper checks are no longer an option. If you receive a paper check, you’ll have to switch to direct deposit by March 1, 2013. If you currently have direct deposit, you don’t need to make any changes.
To choose direct deposit into a bank or credit union, you’ll need your routing transit number, the type of account (checking or savings), or you can have your money put onto a pre-paid debit card.
You can do all of this by going to Go Direct: Direct Deposit for Social Security & Federal Benefits, calling the U.S. Treasury Electronic Payment Solution Center at 1-800-333-1795 or by speaking with a representative from your bank or credit union.
The treasurer of the United States showed how much money the country will save over the next ten years by writing a ceremonial check to taxpayers for $1 billion.
The government says it costs .92 more to create and mail each paper check. More than 18 million Baby Boomers are reaching retirement age over the next five years and every day 10,000 people become eligible for Social Security benefits.
According to the government, direct deposit will allow you to get your money faster and safer. Last year, more than 540,000 Social Security and Supplemental Security Income checks were reported missing or stolen and had to be replaced.
Social Security stops issuing paper checks
Posted: 9:27 AM
Last Updated: 4 hours and 1 minute ago
By: LIz Flynn
WEST PALM BEACH, Fla. - Getting your Social Security check in the mail will soon be a thing of the past. The U.S. Department of the Treasury is starting to make some big changes to how you receive your Social Security check and other federal benefits.
Starting today, May 1, anyone who applies for Social Security, Veterans Affairs or other federal benefits will have to choose an electronic payment. Paper checks are no longer an option. If you receive a paper check, you’ll have to switch to direct deposit by March 1, 2013. If you currently have direct deposit, you don’t need to make any changes.
To choose direct deposit into a bank or credit union, you’ll need your routing transit number, the type of account (checking or savings), or you can have your money put onto a pre-paid debit card.
You can do all of this by going to Go Direct: Direct Deposit for Social Security & Federal Benefits, calling the U.S. Treasury Electronic Payment Solution Center at 1-800-333-1795 or by speaking with a representative from your bank or credit union.
The treasurer of the United States showed how much money the country will save over the next ten years by writing a ceremonial check to taxpayers for $1 billion.
The government says it costs .92 more to create and mail each paper check. More than 18 million Baby Boomers are reaching retirement age over the next five years and every day 10,000 people become eligible for Social Security benefits.
According to the government, direct deposit will allow you to get your money faster and safer. Last year, more than 540,000 Social Security and Supplemental Security Income checks were reported missing or stolen and had to be replaced.
