By Arlenys Tabare
According to a statement from the Social Security Administration (SSA), by the end of 2026, The entity will complete its transition from paper payments to 100% electronic ones, This following an Executive order signed by President Donald Trump in March of last year.
“To improve efficiency, reduce costs, and increase security in federal payments, the Treasury Department is phasing out paper checks,” the SSA said in the statement.
The changes in the SSA to this new form of completely electronic payments began on September 30; however, As of June of this year, 1% of beneficiaries still receive paper Social Security checks.
The transition to electronic payments will also represent millions annually in savings to the Treasury Department, since on average printing checks to beneficiaries cost $3.07, that is, twenty-seven times the cost of automatic payments.
Therefore, faced with the deadline that ends this year to make the change, SSA suggests recipients still receiving checks open their payments electronically.
Those who have not yet made the transition, the entity indicates to retirees and insured persons of the Supplemental Income Program (SSI) Enter your portal and in the “My Social Security” tab add all your banking information to receive direct deposits; If you do not have an account, benefits can also be sent to a prepaid debit card.
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