Marketplace®

Daily business news and economic stories

Gov’t benefits get digitized

This final note today, from the Marketplace Desk of, well, I guess you gotta draw the line somewhere. The Treasury Department issued new rules…

This final note today, from the Marketplace Desk of, well, I guess you gotta draw the line somewhere. The Treasury Department issued new rules today on government benefit payments. As of March 1st, 2013, all those payments — things like Social Security and veterans’ benefits — will be paperless. Direct Deposit or debit card only.

Treasury says it’ll save a billion dollars a year on printing and postage. There are some exceptions — one of which is for people over 90 and might not get the new technology. They can keep getting plain old checks. But people who’re 88, 89? Gotta adapt.

Related Topics

Collections: