Sigman Janssen Legal Blog
Social Security Benefit Payments Going Electronic Beginning in March
February 28, 2013
Feb. 28, 2013
The U.S. Department of the Treasury announced that beginning on March 1, they will be switching to only issuing Social Security Disability and retirement benefits through electronic payments. Yet, estimates issued in a press release last week show there are still roughly 52,000 residents of Wisconsin who have yet to make the switch from receiving paper checks.
The department explained it is easy to either have the funds loaded into a bank or credit union account held by the recipient. If a recipient of benefits does not have an account, there is an option of having their benefits put onto a Direct Express® debit card issued by the government. The card will allow the beneficiary free transactions at an extended network of ATM machines.
Experts say the cost saving associated with eliminating the mailing of the check could be more than $1 billion over the next decade.
In order to make the switch to electronic payments, a beneficiary needs to contact their local Social Security office with their Social Security number, 12-digit federal benefit number, and their bank’s routing number.
The Wisconsin Personal Injury Lawyers with Sigman, Janssen, Stack, Sewall & Pitz encourage any Social Security recipient who has hesitated to make the switch to electronic payments to do so soon so there is no disruption in their benefit payment schedule.