If you are on Social Security or has a parent on Social Security play close attention: come March 1 the U.S. Treasury Department will no longer issue paper checks. The federal government’s “Go Direct” campaign is an effort to save taxpayers $1 billion over the next 10 years. With only two months to go, the Treasury department continues to mail more than 5 million paper checks each month to beneficiaries.
The “Go Direct” campaign began in December 2010 targeting recipients of payments from federal benefits programs — including Social Security, Supplemental Security Income disability, Veterans Affairs and government pension plans. Roughly 93% of payments are now being made electronically, but with 5 million checks still being mailed mailed each month the government is spending an additional $4.6 million in monthly costs since each mailed check costs 92 cents more than a direct deposit transfer. […]