Your Check Is Not In The Mail, Grand Rapids
Paper checks from Social Security are becoming a thing of the past. Beginning May 1st, people who apply will have to set up a direct deposit account to be paid. Other government benefits will also require direct deposit. Plans are to eliminate paper checks by 2013. More than 120-million checks are issued annually at approximately a dollar a check. However, it costs only ten cents for the payment to be made electronically. Treasury assistant secretary Richard Gregg says the government can save nearly a billion dollars over ten years by doing away with paper checks.