F.A.Q.
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What is Go Direct?
Go Direct is a national campaign designed to motivate more Americans to select direct deposit for their Social Security, Supplemental Security Income (SSI) and other federal benefit payments. The U.S. Department of the Treasury and the Federal Reserve Banks are sponsoring the campaign.
The campaign reaches out to people through organizations and people they know and trust -- such as financial institutions and community-based groups -- to inform them about the benefits of direct deposit, and help them sign up for it.
The campaign also includes media outreach, direct mail and Web sites in English and Spanish (www.GoDirect.org and www.DirectoASuCuenta.org).
What is direct deposit?
With direct deposit, your money goes straight into your account at the same time each month, thus giving you more control over your money. It eliminates the risk of stolen checks and forged signatures and helps protect you from identity theft.
Direct deposit also provides immediate access to your money from virtually anywhere.
Who is Go Direct for?
The campaign's message is focused on Americans who receive Social Security and SSI payments. These two groups receive the largest number of benefit payments by check.
Why is direct deposit a good idea?
Direct deposit is safer than mailing checks. When there's a problem with a Social Security payment, nine times out of 10 it's with a paper check, not a direct deposit payment.
It's easier than checks, because people who get benefits don't need to go to the bank or credit union to deposit a check. Their payment goes straight into their account on payment day each month, giving people more control over their money.
Plus, direct deposit allows immediate access to funds from virtually anywhere. It's easy to sign up for direct deposit, and it only takes a few minutes -- call the Go Direct toll-free helpline at (800) 333-1795, or enroll online. You also can sign up at a bank, credit union, or local Social Security office.
Should taxpayers care about direct deposit?
Yes. The Treasury issues more than 150 million benefit checks annually. If all those were converted to direct deposit, it would save taxpayers about $120 million annually. Almost all the money saved remains in the Social Security Trust Fund.
Why is this campaign important now?
Promoting direct deposit is more important than ever now that the first wave of baby boomers are starting to become eligible for retirement benefits.
The Treasury recognizes that it is important to take action now. The vast majority of the money saved on postage, printing and other costs as a result of Go Direct will be used to cover the costs of future Social Security payments.
How many people who get federal benefits use direct deposit?
Today, about 80 percent of federal benefit payments are made by direct deposit.
What if a Social Security or SSI recipient doesn't have a checking or savings account?
For Social Security and SSI recipients without bank accounts,Treasury recommends signing up for the Direct Express® Debit MasterCard® card. The Direct Express® card is a prepaid debit card that offers another safe and convenient alternative to paper checks. For more information, contact your Go Direct campaign representative or visit www.USDirectExpress.com.
Do other institutions and organizations support Go Direct?
Yes, many different types of local and national organizations and institutions -- from banks and credit unions to community-based groups -- support and play an important part in Go Direct. As a Go Direct partner,organizations participate by:
- Holding events
- Recruiting and training volunteers
- Endorsing and publicizing the campaign
- Incorporating Go Direct campaign information in regularly scheduled events, conferences and training
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