Local senior George Osenko receives Social Security deposits each month. He is one of over half a million Americans who do so without ever leaving their homes. This is done through direct deposit of Social Security, and it is safer and easier than traditional means of receiving Social Security money.
‘I’ve been getting my Social Security through direct deposit for a few years now,? said Osenko. ‘It’s difficult for me to leave the house sometimes; through direct deposit my money is put directly into my account rather than being mailed to me. It’s much more convenient.?
Direct deposit is especially handy for seniors like Osenko in the winter months. Because many seniors travel to warmer places and are not around to collect Social Security checks sitting in the mailbox, having money put directly into their accounts is a major benefit.
Not to mention, direct deposit is a much safer alternative to Social Security payments.
‘Each year, the U.S. Department of the Treasury receives more than 1.4 million inquiries regarding paper check-related problems,? said David A. Lebryk, commissioner of the Treasury Department’s Financial Management Service.
‘In 2008 alone, more than 485,000 Social Security and SSI checks were reported lost or stolen and had to be reissued.?
After switching to direct deposit, your office of Social Security will send a letter notifying that direct deposit has been added to your account. It’s a more secure and easier approach.
In addition, Direct Express Debit MasterCard cards are another alternative to paper checks for people without bank accounts.
The Direct Express card allows holders to make purchases, get cash, and pay bills at thousands of locations worldwide.
To switch to direct deposit call the Treasury Department’s Go Direct campaign helpline at 1-800-333-1795 or visit
www.GoDirect.org.
To sign up for the Debit Express card call 1-877-212-9991 or www.USDirectExpress.com.