News for you need to know about this!!

[XBGMER]

This morning, I just got words from twitter-

The Check is Not in the Mail: Obama Administration to Start Direct Deposit

On Monday the Obama administration will announce that all payments from the government will now be made to consumers electronically, ABC News has learned.

Americans receiving payments for Social Security , unemployment insurance, veterans benefits, IRS tax refunds, railroad retirement, and government benefits will now find the money automatically deposited into their personal bank accounts. Americans without bank accounts can get paid using the Treasury Department's Direct Express Debit MasterCard program.

Why the shift to direct deposits? Two reasons: one, it will be easier and faster for consumers to get paid and, two, it will save taxpayers money – an estimated $303 million over the first five years and about $120 million each year after that.

Source from ABCNEWS.com

 

[jillio]

They have been using Direct Deposit for years. Nothing new.

 

[AndyE9503]

Best part of Direct Deposit in not having to wait in lines at the bank on payday

 

[chucky69]

Yeah, that's really not news. My daughter has had DD for at least 10 yrs now ............. And as a matter of fact - I believe some years ago - they had already said that sometime down the line - all Fed payments will be DD.

-charles

 

[springtime]

I am not happy about this. It takes revenue away from the United States Postal Service. And, not everyone has bank accounts or access to places that take the card, the Mastercard or whatever it is that they use if you don't have an account. This will be a hardship for many elderly and disabled people, and for poor people in inner-city and rural areas.

 

[jillio]

I am not happy about this. It takes revenue away from the United States Postal Service. And, not everyone has bank accounts or access to places that take the card, the Mastercard or whatever it is that they use if you don't have an account. This will be a hardship for many elderly and disabled people, and for poor people in inner-city and rural areas.

The Postal Service will not be hurt by this. And the card is accepted almost everywhere. Use a place that doesn't accept it...use cash. More places accept the card than a check. Just take the card to the bank and make a cash withdrawal. Very simple. You don't even have to have a bank account to have the amount put on a pre-paid debit Mastercard. That is what it is for. It won't be a hardship at all. As a matter of fact, it makes having their money available eaiser, not harder.

 

[Jiro]

I love Direct Deposit. Been using it for several years. I know exactly when I will see some ka-ching. 100% guarantee.

Paycheck in mail? Sometimes the mail went missing. Sometimes I cash it in few weeks later. Sometimes this. Sometimes that.

 

[jillio]

I love Direct Deposit. Been using it for several years. I know exactly when I will see some ka-ching. 100% guarantee.

Paycheck in mail? Sometimes the mail went missing. Sometimes I cash it in few weeks later. Sometimes this. Sometimes that.

Yeppers...I am a fan of technology. Love Direct Deposit and on-line bill pay, both.

 

[chucky69]

This will be a hardship for many elderly and disabled people, and for poor people in inner-city and rural areas.

WEll, then those peeps need to get with then program then - it's not like the Gov't - "HASN'T", been telling peeps over the past ten yrs or so - that this time - "WILL", come!

-charles

 

[TXgolfer]

Yeppers...I am a fan of technology. Love Direct Deposit and on-line bill pay, both.

Me too

But I see springtimes point.....I am not sure what kind of debit Mastercards they are giving now.... But the the ones they gave out during Katrina you could not get cash with.....Can't remember if they were MCs or Visa. For most this still won't be a problem. But for those that live solely off there SS and need cash/change for parking or whatnot.....it could be a problem.

 

[Foxrac]

I love Direct Deposit. Been using it for several years. I know exactly when I will see some ka-ching. 100% guarantee.

Paycheck in mail? Sometimes the mail went missing. Sometimes I cash it in few weeks later. Sometimes this. Sometimes that.

Yeppers...I am a fan of technology. Love Direct Deposit and on-line bill pay, both.

Yup, I agreed with you and I love DD, so fast and easy for me.

 

[jillio]

Me too

But I see springtimes point.....I am not sure what kind of debit Mastercards they are giving now.... But the the ones they gave out during Katrina you could not get cash with.....Can't remember if they were MCs or Visa. For most this still won't be a problem. But for those that live solely off there SS and need cash/change for parking or whatnot.....it could be a problem.

The ones the gov't use are just like a debit/credit card and can be used the same as a debit/credit card that the bank issues you because it is your money that is in the account. The ones that were given out during Katrina were more like what the Red Cross uses in a disaster. They have limits on what items can be purchased with it to prevent abuse of the use of funds.

 

[The Highlander]

I use DD since 2000.

Save time and save gas for bank.

 

[Glenn]

I have had DD since 1994 at least. Cannot imagine going back to paper checks.

 

[springtime]

The Postal Service will not be hurt by this. And the card is accepted almost everywhere. Use a place that doesn't accept it...use cash. More places accept the card than a check. Just take the card to the bank and make a cash withdrawal. Very simple. You don't even have to have a bank account to have the amount put on a pre-paid debit Mastercard. That is what it is for. It won't be a hardship at all. As a matter of fact, it makes having their money available eaiser, not harder.

Unfortunately, it indeed will be hurt-that's loss of revenue. But, the govt. is happy to pay Mastercard-those cards aren't free.

Also, banks charge fees for withdrawals using cards. Those can add up.

I actually like technology and use DD for my own income tax checks. However, the people who don't currently have DD, usually don't have it for a reason. Now, there is no choice, and it will be a hardship for some.

 

[Foxrac]

Unfortunately, it indeed will be hurt-that's loss of revenue. But, the govt. is happy to pay Mastercard-those cards aren't free.

Also, banks charge fees for withdrawals using cards. Those can add up.

I actually like technology and use DD for my own income tax checks. However, the people who don't currently have DD, usually don't have it for a reason. Now, there is no choice, and it will be a hardship for some.

USPS is owned by government, man.

 

[netrox]

I am not happy about this. It takes revenue away from the United States Postal Service. And, not everyone has bank accounts or access to places that take the card, the Mastercard or whatever it is that they use if you don't have an account. This will be a hardship for many elderly and disabled people, and for poor people in inner-city and rural areas.

Oh brother...

Think of it as a gift card. You don't need credit history. You CAN cash it with a debit card... just ask for cash back on debit purchases. No fees.

 

[JClarke]

technology with DD is the best thing I have ever seen, and Have been using it to pay bills and everything - had it for 5 - 6 years now. I know few friends who doesn't trust these. :roll: C'mon, they are 100% safe.

 

[jillio]

Unfortunately, it indeed will be hurt-that's loss of revenue. But, the govt. is happy to pay Mastercard-those cards aren't free.

Also, banks charge fees for withdrawals using cards. Those can add up.

I actually like technology and use DD for my own income tax checks. However, the people who don't currently have DD, usually don't have it for a reason. Now, there is no choice, and it will be a hardship for some.

Once they get used to it, it will not be a hardship. It will be a convenience.

Banks charge fees for withdrawals using paper checks, too.

 

[jillio]

Oh brother...

Think of it as a gift card. You don't need credit history. You CAN cash it with a debit card... just ask for cash back on debit purchases. No fees.

There you go. Go to the grocery, run the card through as Debit, and get the cash back. I do it all the time. Don't have to go to the bank, don't have to goto an ATM. One stop and errands are done.