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Response to starroute (Reply #5)

Mon Apr 16, 2012, 04:54 AM

16. Details

—Those without bank accounts will be issued a Direct Express debit card, which will receive payments and can be used for purchases at retail stores and for cash withdrawals at ATMs.

—There will be no fees for debit card purchases but there will be fees for some ATM transactions.

http://www.nytimes.com/aponline/2012/04/16/us/ap-us-no-more-checks-glance.html?hp

edit:
'in 2010, more than 540,000 federal benefit checks were reported lost or stolen. The switch will save the government about $120 million a year. Social Security will save $1 billion over the next decade, according to the Treasury Department.'
http://www.businessweek.com/ap/2012-04/D9U5M6RO0.htm

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