Uncle Sam Offers Social Security Credit Cards - MORE INFOR HERE
CHICAGO (WBBM) -- Uncle Sam is offering Social Security recipients debit Master Cards instead of monthly checks.
Recipients can sign up by calling (877) 212-9991 or by going online to www.USDirectExpress.com.
Treasury Department Regional Director Gary Beets says approximately 243,000 Chicago-area residents still get their monthly Social Security and Supplemental Security Income (SSI) payments by check, instead of direct deposit.
Beets said an estimated 362,000 recipients still get checks in Illinois, 800,000 in the greater Midwest and 10.5 million nationally. Many have no bank accounts, and Beets said they are the ones he wants to switch most to debit cards. "Once they try it, we think they'll stick with it," he said.
Beets said the money stays in the debit account till used. "It's not a credit card. It is a debit card," he said.
"So whether they use it at an ATM or point-of-sale, the funds will be automatically deducted from that card."
There is no sign-up cost and no monthly fee for the MasterCard debit cards, which will be issued through Dallas-based Commerce Bank and, as a result, will be FDIC insured, the same as any bank deposit.
Beets said payments will be deposited into the debit card accounts automatically each month, said recipients will no longer have to worry about lost or stolen checks, and said they will no longer face monthly check cashing fees at currency exchanges or food stores.
Last year, 700,000 Social Security and SSI checks were reported lost or stolen nationally. Information on the program will be enclosed with this month's checks.
Recipients can sign up by calling (877) 212-9991 or by going online to www.USDirectExpress.com.
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