When you are away from home, one thing you don’t want to worry about is how you will receive your next monthly Social Security payment.
That is why it is important for everyone receiving Social Security or Supplemental Security Income (SSI) benefits to sign up for electronic payments.
These days, almost everyone gets benefit payments electronically. Today, about 90 percent of all Social Security and SSI beneficiaries receive their payments electronically.
That number is increasing because the law requires that by March 1, 2013, all federal benefit payments, including Social Security and SSI payments, be made electronically. Whether you receive Social Security or SSI, you can depend on your payment arriving in your account on time, every time.
If you don’t already receive electronic payments, there are many good reasons to sign up. For one, less money and time spent driving to the bank to cash your check helps you save. Second, fewer paper checks, envelopes, and stamps, and less fuel to deliver the checks means savings for the government.