The deadline for the federal government to switch to all-electronic payments has arrived.
Friday marked the day on which the U.S. Department of Treasury switched over to all-electronic payments for those receiving Social Security, veterans' benefits, railroad pensions and federal disability payments.
The change was mandated by a Treasury rule issued in December 2010 in an effort to make payments more efficient and prevent checks from being stolen, and is expected to save Social Security $1 billion over the next decade.
The only beneficiaries exempt from the switch are people born before May 1, 1921.
If you still haven't made the change, call 1-800-333-1795, visit www.GoDirect.org or talk to your local federal paying agency office. Registrants must provide a Social Security or claim number, a 12-digit federal benefit check number and the amount of their latest federal benefit check.
After switching, recipients will receive payments via direct deposit or through the Treasury-offered Direct Express Debit Mastercard.