U.S. Treasury Promotes Its Electronic Deposit Initiative

The U.S. Department of Treasury is hoping to save taxpayers money by encouraging seniors to register to receive their government checks electronically. Betty Belinsky, Regional Director at the Philadelphia Financial Center, says the Electronic Treasury Initiative is expected to save the American taxpayer over a billion dollars over the course of ten years.

Belinsky says recipients of Social Security checks, Supplemental Security Income checks, Disability checks and also Railroad Retirement Board checks, The Office Personnel Management Payments and Black Lung Payments can switch to direct deposit.

She says they're hoping to convince seniors that the Electronic Treasury Initiative is even more secure and less problematic than receiving paper checks. "If you travel or if the weather's bad, you know that your payment's there and that it's safe and secure and it's in your bank account and when you have to pay your bills the money's there for you."

Belinsky says they've set up a web site godirect.org and a toll free number 1 800-333-1795 for people to register.