Social Security Debit Cards Unveiled
Cards Expected To Save Taxpayers $42M

POSTED: 6:59 pm CDT June 9, 2008
UPDATED: 7:38 pm CDT June 9, 2008

There's a new way to get Social Security payments.

The Treasury Department said people without bank accounts can now get their Social Security and Supplemental Security Income money on a debit card instead of a paper check. That could save more than 4 million people from using expensive check cashing facilities, or from carrying around large amounts of cash.

The cards can be used like other debit cards. They can retrieve cash from ATMs using a PIN number, or be used to pay bills. They can also buy things anywhere MasterCard debit cards are accepted. And if one is lost or stolen, it can be replaced.

Social Security debit cards are already being used in 10 states, and will become available nationwide this summer. People can start signing up now.

About 14,000 people in Alabama, Arkansas, Florida, Georgia, Louisiana, Mississippi, North Carolina, Oklahoma, South Carolina and Texas are already using the debit cards.
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