Thursday, October 18, 2012
Wisconsin in focus for Direct Express deadline
As the push is underway to get all Social Security recipients in the United States on some form of digital disbursement by March 2013, the U.S. Department of the Treasury has turned its attention to Wisconsin. Senior citizens and others in Wisconsin are receiving nearly 62,000 benefit payments on paper checks monthly, the Treasury said. It is urging those Badger State residents to switch to direct deposit or the Treasury-recommended Direct Express Debit MasterCard prepaid card before the deadline.
In Wisconsin, over 1.1 million monthly federal benefit payments are already made via direct deposit to a bank or credit union account, or to the Direct Express card, according to the Treasury. The prepaid card allows federal benefit recipients to pay bills, withdraw cash and make purchases without paying check cashing fees, the Treasury said, adding that the money on the card is insured by the Federal Deposit Insurance Corp. and that many card services are free to customers.
The Treasury noted that its Go Direct public education campaign is working with over 1,800 partner organizations throughout the United States to spread the message about the upcoming deadline and educate federal benefit recipients about their options.
In addressing Wisconsin residents on the advantages of electronic payments for receiving and managing federal benefits, Treasury Financial Management Service Commissioner David Lebryk said that the solution will save U.S. taxpayers $1 billion over the next 10 years.
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