Are you presently receiving benefits by mail? Some of my clients still do. If so, you will have to provide your bank account information or enroll in the government's debit card program once you receive your notification about the upcoming changes from Uncle Sam. If you apply for benefits after March 1, 2011 you will automatically be enrolled in the direct deposit or debit card program. For more on the upcoming changes, click here.
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This paperless system also applies to Veteran's Benefits. Issuing a debit card to them instead of a wire transfer to a bank account sounds good on the surface. But that debit card will have user fees after the first withdrawal each month. This means the savings by Treasury is pushed onto the backs of American Veterans. Some savings, by law their benefits are not to be taxed. Treasury costs are paid with tax dollars, so all this does is place that tax on the veterans benefit. Unfair and un-American, Veterans have already paid enough.
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