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Today Is Deadline for Federal Benefits to Go Electronic

Posted on 3/1/2013

Today is the deadline for converting all federal benefit payments from paper checks to electronic funds transfers. During the past two years, bankers and the Treasury Department have worked together to reduce from 11 million to 4.2 million the monthly paper checks the federal government sends benefit recipients.

Banks should continue identifying customers who are depositing federal checks so they can convert them to direct deposit. This is urgent because Treasury is instituting a program to send unactivated Direct Express debit cards to individuals who are still receiving paper checks as part of the agency's effort to move them to EFT.

Those benefit recipients will be given the choice of contacting Treasury to activate the prepaid cards to receive future payments or enrolling in direct deposit using a bank account.

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