Federal payment to be made electronically

Socialsecurity

Going fully digital with electronic payments

From 1st march, all federal benefits in the US are to be paid electronically. The news comes according to a rule from the U.S. Department of the Treasury.

Electronic payments aim to add convenience, security and safety to Social Security instalments.  According to Prescott News, nine out of ten people already receive payment electronically. However, the initiative is significant in signalling a complete move away from paper to digital.

We are witnessing similar moves from governments worldwide as the financial benefits of switching to digital are realised. Electronic payments are said to save the taxpayers USD120m a year as paper costs are eradicated. 

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