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Feds prepare for e-payments

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capitol dome Feds prepare for e payments

(Image: AP)

If you rely on a check from the federal government each month, you better get ready for a change.

Seventy-three million Social Security payments are sent out every month, but starting next year Washington will begin phasing out paper checks for all benefit programs. So payments will be sent to you electronically, or if you do not have a bank account, you’ll receive a debit card.

The changes will affect Social Security, veterans’ benefits, railroad pensions and federal disability payments. Tax refunds are exempt, but the IRS does send electronic refunds faster than paper checks.

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