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Social Security Checks to End Come March 1

February 1, 2013

Exactly a month from now, Social Security checks in your mail will be a thing of the past.

Brian Stienfeld of Wells Fargo, an American multinational financial services firm, said that the Social Security Administration (SSA) “wanted to save a billion dollars of taxpayers’ money annually, and prevent fraud.”

Steinfeld stressed that beneficiaries are now required by the SSA to start receiving their Social Security checks through Direct Deposit or Direct Debit Express.

According to Steinfeld, $540,000.00 worth of Social Security checks were lost or stolen in 2010 alone.

He furthered that this move will effectively cut down potential fraud and prevent the checks from being lost.

Some recipients of the benefits think that this is a wise move by the SSA, while others are skeptic about this change and would still want to receive their checks via mail.

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