Welcome News About More Electronic Deposits

Today’s Washington Post reports that most Social Security and other federal benefits payments will be made by direct deposit by 2013. We applaud this savings in postage and paper, and also the increased security that it represents – thefts from mailboxes will be a thing of the past.

The decision will eliminate about 136 million paper checks sent by the Social Security Administration, Department of Veterans Affairs, Railroad Retirement Board and Office of Personnel Management.

The switch is part of a broader plan to shift away from paper-based payments and transactions. The plans should save taxpayers about $400 million in processing
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