Go Direct

Direct Deposit: Theft Protection for Your Federal Benefit Payments

Help safeguard your money from financial crimes by switching from paper checks to electronic payments today

Source: U.S. Department of the Treasury, Financial Management Service

If you receive federal benefit payments by paper check, did you know that criminals can steal your check from the mailbox, making you a victim of financial crime?

Last year alone, more than 540,000 Social Security and Supplemental Security Income checks were reported lost or stolen.  Despite the risks, people in Michigan still rely on 182,600 Social Security paper check payments each month, putting their money in danger of check theft and other financial crimes.

Ensuring you get your money the safest way possible is one reason why the U.S. Department of the Treasury is getting rid of paper checks for federal benefits. Payments instead will be made electronically, which eliminates the risk of stolen checks and helps protect you from financial crime.

If you are about to apply for federal benefits, you will receive your payments electronically from day one. If you already get federal benefit payments by check, you must switch to an electronic payment method by March 1, 2013.

Don’t leave your money at risk by waiting for the deadline. It’s fast, easy and free to switch to one of the two electronic payment options recommended by the Treasury Department:

·         Have a bank or credit union account? Sign up to get your money by direct deposit to a checking or savings account. Your federal benefit payment will go straight into your account on payment day each month.

·         Prefer a prepaid debit card? Switch to the Direct Express^® Debit MasterCard^® card. You money will be posted to the card account on payment day each month. You can make purchases and get cash back with purchases at no charge anywhere Debit MasterCard^® is accepted. There are no sign-up fees, overdraft fees or monthly fees. Some fees for optional services may apply. For information on card fees and features, visit www.GoDirect.org. No bank account or credit check needed.

To switch to direct deposit or the Direct Express^® card, contact your federal benefit agency office, visit the Treasury Department’s Go Direct^® campaign website at www.GoDirect.org, or call the U.S. Treasury Electronic Payment Solution Center at (800) 333-1795. For direct deposit to a checking or savings account, you can also make the switch at your local bank or credit union.

Direct deposit offers you theft protection for your federal benefit payments. Don’t wait – make the switch today.