Reply #164: I think your fears are unfounded.......

[HowHeThinks]

This is not some grand conspiracy to privatize SS. It's not some grand conspiracy to control anyone's access to their money. When you consider the number of people receiving SS benefits, cutting checks and mailing them costs big bucks. It's a money saving move, nothing more.
Frankly, I can't understand why anyone - in this day and age - would not have a bank account, and the percentage of those people (somewhere in the neighborhood of 30% I believe) boggles my mind. WalMart will cash your check for you, for a fee. How do these people pay bills? Money orders? And how much do they cost?

When you read the fine print in this action there is nothing that sticks out as a move to rip anyone off. I know some people don't trust banks, and some have legitimate concerns, but getting a check by mail each month seems more risky than receiving direct deposit or a debit card.

I think this is much ado about nothing. If SS adequately educates people about this move that's going to take place I don't think there's any rational reason to worry.

But that's just my 2 cents. :shrug: