Direct Deposit: Theft Protection for Federal Benefit Payments
Help safeguard money from financial crimes by switching from paper checks to direct deposit today
Source: U.S. Department of the Treasury, Financial Management Service
Last year alone, more than 540,000 Social Security and Supplemental Security Income checks were reported lost or stolen. Despite the risks, too many people in California still rely on Social Security paper check payments each month, putting their money in danger of check theft and other financial crimes. See a map with the number of paper checks received by Californians.
To keep federal benefits safer, the U.S. Department of the Treasury is getting rid of paper checks for federal benefit payments. Payments will instead be made electronically, which eliminates the risk of stolen checks and helps protect recipients from financial crime.
Anyone getting federal benefits by paper check must switch to electronic payments by March 1, 2013. It’s fast, easy and free to make the make the switch to direct deposit:
• Visit your bank or credit union branch.
• Go to the Treasury Department’s Go Direct® campaign website, www.GoDirect.org.
• Call the U.S. Treasury Electronic Payment Solution Center at (800) 333-1795.
For more information, visit www.GoDirect.org.
The Go Direct® campaign is sponsored by the U.S. Department of the Treasury and Federal Reserve Banks. The Go Direct® is a registered service mark, and the Go DirectSM logo is a service mark, of the U.S. Department of the Treasury, Financial Management Service (used with permission).