Social Security switching to direct deposit
by Marcus E Howard
August 17, 2012 12:27 AM | 3640 views | 4 4 comments | 8 8 recommendations | email to a friend | print
MARIETTA — The U.S. Treasury Department wants the more than 3,000 Cobb County residents who still receive Social Security, Veteran Affairs and other federal benefit checks in the mail to know that they have until March to sign up for direct deposit.

Treasury officials are wrapping up a tour around the Southeast to inform communities about the March 1 deadline for all electronic federal benefit payments. Statewide, nearly 162,000 paper checks are sent monthly to seniors and other recipients.

Federal benefit recipients are required to sign up by the deadline to make the switch from paper check to direct deposit or the treasury’s Direct Express prepaid debit card. The Go Direct initiative began in January 2011.

On Thursday, Walt Henderson, Go Direct’s Washington, D.C.-based campaign director, and other officials visited metro Atlanta as part of a series of community visits to spread the word about the switch.

“We’ve been promoting direct deposit for many years because it’s the safest way to receive payments such as Social Security; checks get lost and stolen,” Henderson said. “Another major reason is cost: Treasury checks are far more costly to produce versus direct deposit payments.”

About 3,300 Cobb residents receive paper checks. However, 80,530 have already made the switch to electronic payments, with approximately 96 percent opting for direct deposit payments, according to the U.S. Treasury Department.

Those who make the switch will begin receiving electronic payments in roughly six weeks, Henderson said. Those who fail to sign up by the deadline will receive a more direct reminder about the requirement, he said.

For benefit recipients who may not have a bank account, there is the Direct Express prepaid debit MasterCard option. Payments are electronically loaded onto the card each month. It can be used anywhere MasterCard is accepted, and one free ATM withdrawal is allowed every month. Subsequent withdrawals are 90 cents each. There are no application or monthly fees, Henderson said.

In Georgia, the Go Direct campaign is working with local organizations to help federal benefit recipients learn about the electronic payments, including the Atlanta Regional Commission, Georgia Division of Aging Services Senior Medicare Patrol Program, Center for Financial Independence and Innovation in Decatur, and the Atlanta Housing Authority.

To make the switch to electronic payments, call the U.S. Treasury Department’s call center at (800) 333-1795 or go online to Recipients with bank or credit union accounts may also sign up at their bank or credit union.
Comments-icon Post a Comment
one eye
August 17, 2012
Social Security has ALWAYS been a ponzi scheme! Social Security is viewed as just another pot of cash that has been raided time and time again to buy votes. Most of the "Trust Fund" is being spent on government programs that have nothing to do with the original plan for SS. Eliminate this waste and return SS to paying ONLY for retirement benefits will go a long way toward saving the fund. The money contributed to SS must be invested in government securities which pay the lowest interest rate.
HLM _ Smyrna
August 17, 2012
And you do NOT mention the tax that is to begin

after the November elections.
Kennesaw Resident
August 17, 2012
Everyone out there should read National Public Radios recent reports on what a bad deal Social Security is. For those retiring in 2030, they will pay much more in than they will get. I want a private account!
VoterID All Over...
August 17, 2012
Again!!!! It's Racist! It's disenfranchisement!
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