Call it another sign of the times--starting March 1st, the Feds will only pay benefits electronically.
"That includes Social Security, supplemenal security insurance, veterans benefits--all federal payments will be done electronically" said Senior Advocate Maribeth Farringer. You have two options if you still receive a paper check--you can have your cash deposited directly in to a bank account--or you can have the money loaded on to a debit card--but Farringer said the latter may not be the best option for everyone."They will only be allowed four transactions without a fee. After that, there will be a small fee for each additional transaction within a month" Farringer said.
Nearly 7% of Texans who receive Social Security payments still get paper checks. Those who do can set up elctronic payments online at www.godirect.org, or by calling the Treasury Department
Photos: money.usnews.com; pappasontaxes.com