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.
Story by Lynn Oldshue for LowCards.com.
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