Social Security is Going Paperless
How will it affect you?
Questions & Answers
The First State Bank of Bedias is here to help assist you in making this transition as easy as possible. All federal Benefit recipients will be receiving their benefits electronically whether it is by direct deposit or via the Direct Express card program. As the deadline approaches we're urging and assisting recipients who still receive paper checks to make the change.
Q. Why should I sign up for electronic payments?
A. Safe, easy and convenient way of receiving your benefits. Electronic payments allows recipients to receive their money faster and eliminates the risk of delayed, lost or stolen checks.
Also, if you don't, the U.S. Department of Treasury may send your benefits via the Direct Express card program to avoid an interuption in your monthly payment.
"Each year, almost half a million Social Security checks are reported lost or stolen," stated Social Security Commissioner Michael Astrue in US News article.
Q. What is Direct Deposit?
A. Direct Deposit is an electronic payment made to your checking, savings or money market account monthly on the day, your benefits are paid.
Q. Hod do I get Direct Deposit?
A. The First State Bank of Bedias can assist you in signing up for Direct Deposit in two ways. By mail or phone. All we need is just a little bit of information such as:
(or copy of your last check)
- Federal Benefit Recipient Information
- Bank Information
- Type of Payment
- Claim Number or Check Number from your Last Payment
- Amount of your last benefit payment
- Your signature or verbal authorization for Social Security
Q. Are there any other electronic methods offered?
A. Yes. The Direct Express card is a debit card which is also offered. With the Direct Express Carda a bank account is not needed, your monthly benefits will be loaded and ready to use on your payment day. You can use your card to make purchases, pay bills, or get cash. The card is both safe and more convenient than paper checks.
To learn more go to www.socialsecurity.gov or call 1-800-325-0778
To sign up call the Treasury Electronic Payment Solution Center at 1-800-333-1795.
Sign up online at www.GoDirect.org