With the Social Security Administration (SSA) going paperless and their efforts to reduce costs, the age of receiving checks will be drawing to a close on March 1, 2013. You are encouraged to sign up for electronic direct deposit as the alternative to receiving checks. If you haven’t already done so, you should sign up as soon as possible. The process takes 30 to 60 days before you begin receiving your benefits electronically. You can learn more about electronic payments by direct deposit by reviewing the FAQ on the Social Security website.
If you choose to not sign up for electronic direct deposit, SSA will issue you a Direct Express® debit card. The Direct Express® card is a debit card you can use to access your benefits. And you don’t need a bank account. With the Direct Express® card program, SSA will deposit your federal benefit payment directly into your card account. Your monthly benefits will be available on your payment day—on time, every time. You can use the card to make purchases, pay bills or get cash at thousands of locations.
And most transactions are free. Please note there are possible fees charged for use of the debit card. For more information on the fees charged go to the SSA website.
With possible fees associated with the debit card, it makes sense to have your benefits electronically deposited into your bank account. Sign up today!