Protect Your Money and Identity with Direct Deposit
Each year we hear about someone's identity being taken. Is there something you can do to protect yourself? Last year, nearly 40 percent of Americans have either been a victim of identity theft or know someone who has. Every year, the U.S. Treasury issues about 150 million federal benefit checks. In 2005, about 65,000 Treasury-issued checks equaling $60 million in estimated value were forged.
One way to protect you is to use direct deposit instead of paper checks. This will help protect you against identity theft and fraud.
So you aren't convinced yet! There are three reasons to consider:
It's safer. Direct deposit eliminates the risk of stolen checks. It helps protect people from identity theft. You are 30 times more likely to have a problem with your paper federal benefit check than with a direct deposit payment.
It's easier. Payments go straight into your account, so you don't have to go to the bank or credit union to deposit a check.
It gives you more control. Direct deposit is completely predictable – you know you'll have your money at the same time each month. You can access your money from virtually anywhere – so you have it when you need it most.
How can you sign up? Stop in your local bank, credit union or Social Security office. Fill out the paper form and mail it in. The form is available from www.GoDirect.org
You will need to provide the following information:
Social Security number
Bank or credit union's routing number (see bottom of your personal check.)
Account number (see bottom of your personal check.)
Spelling of your name exactly as it appears on your benefit check
Amount of the most recent benefit payment
Check number from a recent benefit payment – or your claim number from the paying agency.
Direct deposit is not only safer than checks, but it's also easier and more convenient because your money goes straight to your account on payment day. You gain more control over your money and time.
If you are close to receiving Social Security or other federal benefits by check, please consider switching to the safest, easiest option – Direct Deposit today!
