Debit Cards for Social Security Recipients
By sunkissed
@sunkissed (4330)
United States
June 10, 2008 5:32pm CST
Getting your social security check in the mail may soon be a thing of the past.
The U.S. Treasury announced it is introducing a new program that involves a debit card loaded with social security benefits.
Arkansas is one of the first four states to receive these cards.
In an effort to save money, the program will provide social security recipients the option to receive their benefits directly to the direct express debit master card.
The option gives recipients who don't have bank accounts a way to access their funds without paying fees to check-cashing vendors.
1 person likes this
5 responses
@neildc (17239)
• Lapu-Lapu City, Philippines
11 Jun 08
I am proud to inform you that here in the Philippines, the people in the government service like me, have been benefiting from the said debit card. The Government Service Insurance System here, has introduced the use of the debit card in 2004 or 2005, through the Union Bank of the Philippines and Visa. All government employees, including the retirees, now have their own debit cards, a bank account with the said bank. It is also convenient for us, not having money in the pocket. We can also use the said card to withdraw money from the ATMs...
2 people like this
@sunkissed (4330)
• United States
11 Jun 08
neildc, Thanks so much for letting us know that there in the Philippines you are already using these debit cards, and that they are working very well for you, this is very nice to know.
@sunkissed (4330)
• United States
11 Jun 08
jer,yes,here they do the food stamps this way als, it will be goo for them to do the social securith benifits this way also.
@jonesy123 (3948)
• United States
10 Jun 08
Interesting. It would probably be safer than having a check cashed at the cash checking place and then take the full amount home. And of course, yes, it would safe on the fees. But I'm not sure how well they will be able to track their expenses. And how do they get cash? Will stores allow them to charge more in order to get cash out or do they have to use an ATM and pay the fees there?
1 person likes this
@sunkissed (4330)
• United States
10 Jun 08
Yes, it would be safer than having the checks cashed at a check cashing place, then you do not have to pay the fees either.If it is on a debit card, I supose you can get cash at the bank. Most stores do allow you to get more money from a debit card than what you spend.
1 person likes this
