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Social Security Debit Card: A New Way for Retirees to Access Benefits

Social Security Debit Card: A New Way for Retirees to Access Benefits

The Social Security Administration (SSA) has introduced the Social Security debit card, also known as the Direct Express Mastercard card, as an alternative to traditional bank deposits for receiving monthly Social Security benefits. This debit card is particularly beneficial for retirees who do not have a bank account, as it allows them to access their funds immediately without needing to cash checks or carry cash. The card has no credit check requirements, no minimum balance requirements, and can be used at any location that accepts Mastercard.

To receive funds on the debit card, beneficiaries must contact the Direct Express enrollment center or enroll online. The card provides enhanced security features, including a Personal Identification Number (PIN) required for transactions and FDIC insurance up to the legal maximum. If the card is lost or stolen, Direct Express customer service will replace it.

For recipients of the Supplemental Security Income (SSI) program and veterans, funds must either be deposited directly into a bank or credit union account or received on a DirectExpress prepaid debit card. The next $1,900 check for eligible retirees will be deposited on Wednesday, July 24th, for those born between the 21st and 31st of the month. Payment amounts vary based on factors such as full retirement age, work history, and average contributions over 35 years.

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