Social security checks to stop being mailed on March 1
POSTED: Tuesday, January 8, 2013 - 4:30pm
UPDATED: Tuesday, January 8, 2013 - 4:34pm
NBC NATIONAL NEWS — An important deadline approaches for anyone who receives regular federal benefits.
As of March 1, social security checks and other monthly government benefits will no longer be mailed.
Instead the treasury department will distribute funds via direct deposit or on a prepaid debit card.
Currently, nine out of ten people (93 percent) receive monthly benefits electronically or on a card.
It costs 92 cents more to issue a payment by paper check than by direct deposit. Converting the remaining paper check recipients will save the government about a billion dollars over the next ten years.
Those still receiving paper checks can either call the treasury or make the switch on-line.
The phone number is 1-800-333-1795 and the website is www.godirect.org