Electronic Deposit of Social Security Check- March 2013

Electronic Deposit of Social Security Check

Department of the Treasury

Treasurer of the United States Rosie Rios on March 1 started an official countdown clock, marking one year until the March 1 2013 deadlne when all Federal Benefit Receipients must utilize Electronic Deposit of Social Security Check &  other Federal Benefit payments by Electronic Deposit.

Treasurer Rios urged remaining paper check receipients to switch now and help taxpayers save $1 Billion over 10 years.

Currently about 90 percent of SS & SSI payments are being made electronically.  For the first time in recent history, the number of monthly paper ceck payments for SS, VA & other Federal benefits has dropped to approximately 7 million – down from a high of 11 million in 2010.  As the deadline approaches the Treasury Dept is urging the remaining 10 percent o make the switch to Electronic Deposits as soon as possible.  If provides a safer, more secure more convenient way for Americans to access their Federal Benefits, while also improving government efficiency and delivering more than $1 Billion in savings.

The Treasury Department published a final rule in December 2010 to greadually phase out paper checks.  Since May 1 2011 all people newly applying for Federl Benefits, including SS, SSI VA, RRB Office of Personnel Management Benefits & other non-tax payments have had to choose direct deposit or the Direct Express Debit MasterCard at the time they sign up for their benefits.

Make the Switch Today -  Federak benefit recipients can switch to electronic payments online at www.GoDirect.org or through the  U.S. Treasury Electronic Payments Solution Center toll-free to 1-800-333-1795.

The Treasury department urges you to have the following before calling of going on-line:

Social Security number of claim number

12-digit federal benefit check number

Amount of most recent Federal benefit check.

If signing up for direct deposit to an existing account – this will be needed also:

Financial institution’s routing transit number – often available on a personal check

Account number & type of account (checking/savings).

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