Heads up. Soc. Sec. just told me what will happen in 2 years.

[dixiegrrrrl]

I signed up, on the phone, for direct deposit of my Soc. Sec. check.
Talked to a live human, with something called Go Direct ( who I suspected is a contractor) and he said that come 2013, anyone who is NOT signed up direct deposit will get a debit card instead of a check.
He said debit cards are now issued to "the unbanked", but even with a banking account,
if you are not signed up by 2013, you get a debit card

I will tell you, after reading up about those cards, there are hidden fees.
When I wrote something here about that 6 months ago, a lot of people did not want to believe it.
If this affects you, do your own homework, look it up.

I am not comfortable about even direct deposit, I am not comfortable about a system that can stop my money flow with a flick of the switch, so to speak, but I have no choice in this case, and wanted to sign up early, before the rush next year.

So, hopefully, in about 60 days I will have direct deposit, supposed to have one more paper check next month.
We shall see what happens, I know in the case of a missing check all sorts of problems and delays can happen.

[Gold Metal Flake]

1. Who is unreccing THIS thread?

Seems like helpful info.

[dixiegrrrrl]

8. off topic but your Franklin pic/quote is so unfortunately apropo.

as is the sig line.

[elocs]

20. In fact it is so important that you used the very 1st response to complain about UnRecs.

:shrug:

[Gold Metal Flake]

28. Yes, I did.

To bring to light that this thread had been unrecced and to encourage those who think the info to be useful to counter the unrecs. Since the rec count is currently 10 my plan worked.

[leftyohiolib]

45. why would someone complain about your post's content?

[msanthrope]

57. Because it's incorrect. I posted the FAQ from the government that

shows that you don't need to use the debit card if you have a bank account, most services are free, and directions on how to go paperless.

[nilram]

145. And if they can cut direct deposit off with the "flick of a switch"

they can cut off a paper check from being mailed as well.

[Gold Metal Flake]

60. My post?

Who knows what motivates some people. :shrug:

[ooglymoogly]

169. +1... But lets face it, there are dino's, third wayers and outright pugthug crocks lurking about,

ready and waiting to destroy a post before it gets started and for obvious reasons. FDR is their satin for committing the blasphemy of paying any attention to the middle and the "little people".

[Stinky The Clown]

91. Who? Sycophants

[cliffordu]

146. lol.....

[Stinky The Clown]

148. . . . . . .

Cliiiiiiiiffiieeeeeeee . . . . .

[ooglymoogly]

171. And that was funny to you....how?

[defendandprotect]

154. And another compliment for your FDR quote -- !!

"The liberty of a democracy is not safe if the people tolerate the growth

of a private power to the point where it becomes stronger than their

democratic State itself.

That, in its essence, is Fascism -- ownership of government by an individual,

by a group or by any controlling private power."

President Franklin Roosevelt


--- and that should make it quite clear to anyone here still questioning whether

it's Fascism yet, or not!

"Congress is under the control of the oil and coal industries" -- Al Gore/Rolling Stone


Our government and its agencies has been bought lock, stock and barrel by elites/corporate

fascists --


Every effort is being made to remove the business of Congress from Congress and the public

view -- back room deals, super votes, Super Congress -- all add up to control by private

power -- and that includes the Federal Reserve Bank and its control of our economy --

its dictates of economic policy rather than Congress addressing these issues --

These are political decisions re jobs, flow of money, borrowing which must be debated and

decided by Congress -- not a private bank. We need those we elect to make these decisions --

those we elect and whom we can un-elect!!

[ooglymoogly]

173. +1 and needs to be repeated and repeated and repeated and shouted add infinitum. nt

[Enthusiast]

159. Most likely some of the hundreds

of stealth Republicans registered and active on the DU.

[ooglymoogly]

170. +1 nt

[Indydem]

2. With the flick of a switch

They can stop printing your checks.

In 15 years there will be no more postal service.

They are just making life easier. Once you have the DD or DC for a while, you will see the convenience.

[durablend]

15. Oh I'm sure

You'll see the "convenience" of whoever runs it lifting out a couple of bucks a month in fees (assuming not per transaction). Seniors can just jump for joy knowing one other way they're being ripped off (well, let's be sure...they should be used to it by now and really need to shaddup)

[Indydem]

34. The government "runs" it.

You are permitted to withdraw money once per month for free at an ATM, and you can use it as a regular debit card with no fees.

Making up phantom fees is not conductive and is simply scaring people of inevitable progress.

[dixiegrrrrl]

48. These are NOT "phantom fees":

More than one ATM withdrawal per deposit ($.90 cents per withdrawal).

Surcharge fees may apply.
There are ATM owner fees called "surcharge fees", if you do not use a Direct Express® card surcharge-free network ATM to withdraw your cash.

Card replacement after one free replacement card per year ($4.00 per card).

Monthly paper statement mailed to cardholder ($.75 cents per month).

[msanthrope]

62. You get free withdrawals at the bank or credit union teller. And you don't have to use this card.

You have direct deposit.

Why shouldn't you pay for a paper statement? And why shouldn't you pay for a replacement if you've lost THREE cards in one year?

[ThomCat]

155. The government outsources it.

I believe they have Bank of America handling the debit cards at this point.

Withdrawing money for free once per month isn't safe. Who wants to have all the money from their entire monthly payment on them leaving an ATM once per month? That's asking to get robbed.

You never want to walk around with large amounts of money on you when you absolutely can't afford to lose any of that money.

So instead people will take out money as they need it, and get charged fees for it.

People who don't have bank accounts get screwed because of it, and it can end up costing a lot of wasted money.

[KansDem]

180. Plus, if you're "caught" with large amounts of cash...

Who wants to have all the money from their entire monthly payment on them leaving an ATM once per month? That's asking to get robbed.

The police will think you're a "drug dealer" and confiscate all your cash!

[Highway61]

162. Thank you

Your response is informative and to the point. There are a few here lately that are just contrary no matter how much truth you state and how much sense you make.

[nadinbrzezinski]

70. Ah yes, the USPS will go away

and private contractors jump in joy...

:sarcasm:

There are days...

:banghead:

[deaniac21]

93. USPS is losing enough money to burn a herd of wet elephants.

[nadinbrzezinski]

102. You do know why RIGHT?

I recommend you look into the DIRECT relationship of 2006 prefuding requirement and this. We have explained it MANY TIMES already.

We call this union busting... but you keep drinking whatever koolaid the media and the GOP are perpetuating.

[Jakes Progress]

106. Another one has fallen for the neocon story line.

Without knowing the why and background of why the USPS is struggling, most just use the excuse the neocons made up for them.

It is, after all, easier than learning.

[nadinbrzezinski]

108. I know...

[Fuddnik]

122. One?

You've got so many people around here swallowing corporate, neocon, neolib horseshit anymore, it's becoming a wasteland.

[ooglymoogly]

172. or like so many lately, is one.

[Better Believe It]

127. You saw that on the corporate mass media so it must be true.

[valerief]

129. Stop with lying meme. nt

[ThomCat]

156. That isn't true.

You listen to too much corporate controlled media. It's all republican framed Bullshit.

Republicans pushed through a law forcing the post office to have cash on hand to pay in full in advance for the retirements of employees they don't even employ yet. They have to come up with billions of dollars to meet this arbitrary, and totally unnecessary requirement.

Republicans claimed that this was necessary in order to prevent future retirement obligations from drowning the post office, but they really did this only so they could claim that the post office has a (fake) funding problem, just as they are, in fact, doing right now.

Don't buy into the bullshit that the right wing media throws at you.

[ooglymoogly]

176. Though I passed that goal post long ago...still this is a timely post

for those who haven't.

[deaniac21]

181. I do everything electronically as an increasing number of the

US population. I haven't sent a letter in 10 years.

[Old Codger]

3. So far

My wife and I have been using the direct deposit for years now and never any problems with it, one check goes directly into savings account the other goes to checking account, always on time sometimes early never ever been late. Hopefully this will continue, at least the check cannot be lost in transit nor stolen from mailbox.

[dixiegrrrrl]

7. Thanks for that, good to hear.

I have this HUGE thing about anyone controlling my money.

[Tansy_Gold]

138. If they send you a check, they're still controlling your money

Three years, direct deposit, no problems.

BF four years, one problem with paper check first year, switched to direct deposit, no problems since.

Regardless how they send it to you, they're in control. All the rest is illusion.


TG

[dixiegrrrrl]

139. I know, Tansy. Sigh.

But at least I had some ...comfort...in seeing that that check had arrived, ya know?
Now I have to call the bank to make sure it is in the account, because there is no way I am going to start writing checks just "assuming" there was no glitch.
Good way to get caught up in some hellacious overdraft fees that way.

[Tansy_Gold]

144. It's quicker and easier and faster and cheaper

to check with the bank -- it can be done online unless your bank is really out of the technological loop and in that case I don't think I'd trust them with ANYTHING -- than it is to wait for the check to arrive and take it to the bank and deposit it. There's much more hassle if the paper check doesn't arrive -- as the BF found out.

On the other hand, a friend who got his first SS DD in May was able to check his account on the morning of the day it was due to be deposited, and discovered there had been a glitch. His bank had made the error regarding the mailing address on the account but the correction required working with SSA to verify identity, etc. It was resolved in time to get the deposit corrected before the close of business that day. Someone relying on receipt of a paper check might still be waiting for the next day's mail, and the next, and the next. . . . .


TG

[Frustratedlady]

37. I agree. It is so convenient and has never been late.

In fact, if I'm up late, I'll check my account on the Internet and the check will be there after midnight...2:00 am or so.

[Auntie Bush]

38. I LOVE direct deposit. Have had it for years...never a problem!

Be sure to sign up so you'll be sure to get DD. No hurricanes, tornadoes, floods, snowstorms etc. will stop it from arriving on time. It's the only smart thing to do.

[dixiegrrrrl]

50. Severe weather is the primary reason I decided to do it.

Altho we are within 2 miles of our bank, it is dangerous to go outside during a bad thunderstorm.
Of which we have plenty here.

[COLGATE4]

89. K&R all the above. We've had Direct Deposit since 2007 and

never a problem with it. Right on time, to the minute, month after month. I don't think worrying about it is conducive to anything, nor do I see anything from my experience that would lead me to worry about it.

[quiller4]

94. We love direct deposit, too. We had direct deposit of paychecks

before retirement, switched to direct deposit of Teamster pensions (spouse) and TIAA/CREF (me) upon retirement and chose direct deposit of SS as soon as spouse was eligible. My late parents were among the early subscribers to direct deposit. I cannot understand why anyone would choose another option. A few banks and many credit unions have no/low monthly fee account options for those with direct deposit and few monthly transactions.

[ChazII]

4. K&R n/t

[trueblue2007]

88. i am getting my SOCIAL SECURITY NEXT FEB. I CAN'T WAIT!!!

maybe i can get a part time clerical job after the nerve pain in my left hand (because of neck c7-t1 surgery) goes away. hubby already gets his. i don't think we will get food assistance then.

they give you $$ ...social security, it pays for your health insurance and then you have NO MONEY FOR FOOD. i am looking forward to getting my $$ but what will we do about food???

[HowHeThinks]

160. If you're eligible for SS.....

you're eligible for Medicare. If you're paying for some mondo-expensive private health care policy your best bet would be to enroll in Medicare, then perhaps a supplemental policy to cover the 20% Medicare doesn't pay. You'd be saving a ton of money over private health insurance that you could use to buy food? Just a thought. :shrug:

[the other one]

5. That will hurt cash business

Limit the ways you can spend your own money

[dixiegrrrrl]

27. Can you be more specific about "limit ways to spend money"?

I am not clear if you are talking about debit cards or direct deposit and how either would limit what you buy?

[haele]

99. You can pull cash out, unless you like to use the debit card.

I have direct deposit from my employer, and pull $200 a paycheck out to use for cash transactions over the week. It doesn't hurt cash businesses at all to have direct deposit, so long as you pay attention to how much cash you have.
If you have an account at a credit union, other than leaving the $5.00 in a savings account to keep it open, it should cost less than a check-cashing place to turn your SSI into a lump sum cash on hand.
Direct Deposit itself is pretty painless - and far less painful than trying to cash a paper check at a check cashing place if you don't have a bank account to push it through.
It's using the ATM card that can cost, if you don't use the right machine...

Haele

[Skip_In_Boulder]

6. And let me guess

J.P. Morgan is the provider of the DC.

[dixiegrrrrl]

10. HOW did you know?????

:evilgrin:

Actually, I asked him that, and he gave me the name of some company I had never heard of, but I had already read that JP was making the cards, so I assume he was talking about a sub-contacting bank to them.
I did not pursue the topic with him, no use, so why bother.

[Skip_In_Boulder]

17. They are already cornering the market

on Electronic Benefit Transaction cards,(EBT) with food stamps and cash benefits, in those states that provide cash benefits, in 34 states at this point. So I'm betting they are going for all of it. People complain about how everything is being privatized but what they don't understand is that privatization has already been going on for 20 years. When one starts looking deeply into some of these issues it is astounding how much of the government has already been privatized. Or as Thom Hartmann is starting to refer to it, profitized.

Pretty smart of JPM as they have worked themselves into a position of where they make money off of you on the way up, (loans) and then make money off you on the way down, (benefits).

[msanthrope]

59. Wrong. JP Morgan was removed 3 years ago. Comerica took it over then. nt

[Skip_In_Boulder]

100. Nope, JPM is still running the game

I saw your post earlier and would suggest that it is propaganda, or just another front company, that you are reading. Just like the O.P. pointed out they tried to sell her on it was a front company that was actually in charge of the account. They are most likely just the customer service provider.

[msanthrope]

107. Jeebus--So the Treasury Department is LYING in the public disclosure cited below? Or did you fail

to read the FAQ that I have provided numerous times??

8.4 Who is providing the Direct Express® card?

— Direct Express® is a Debit MasterCard® card issued by Comerica Bank as the U.S. Department of the Treasury’s financial agent.

http://www.usdirectexpress.com/edcfdtclient/docs/faq.html#71

[Skip_In_Boulder]

132. I'm sorry son but you just don't know what your talking about

And no I don't need to read your little faq as I have been involved with and studying the structure of corporations since 1979. You clearly represent the 95% who have no understanding of how it is all put together and works.

[msanthrope]

137. I'm not male. The fact that you couldn't glean that from my username doesn't suggest you are

one of the blessed 5% that have an "understanding of how it is all put together."

Comerica, not JPMorganChase, is the EBT provider here.

[lonestarnot]

150. Yes correct information, stick to it!

[stockholmer]

95. if JPM does get control back , expect fees & other shite to come rolling as the years ease on by

They are truly fucking genocidal scum, in the full spectrum dominance sense of the words FUCKING GENOCIDAL SCUM.

[msanthrope]

109. It's Comerica. Has been since 2008. Cite:

.4 Who is providing the Direct Express® card?

— Direct Express® is a Debit MasterCard® card issued by Comerica Bank as the U.S. Department of the Treasury’s financial agent.


http://www.usdirectexpress.com/edcfdtclient/docs/faq.html#71

[stockholmer]

124. yes, I saw that, thanks, that is why i said if JPM gets 'control back'

cheers

[enlightenment]

9. Interesting.

Privatized by the back door. The government is not a bank - the Treasury Department is going to give the money to Comerica Bank and they will issue the debit cards. How nice for Comerica, having all that cash available.

http://www.comerica.com/vgn-ext-templating/v/index.jsp?vgnextoid=e049788635bd2010VgnVCM1000004302a8c0RCRD

The details about this program are horrifying:

http://money.usnews.com/money/retirement/articles/2008/06/11/social-security-debit-cards-7-things-you-need-to-know

There are no sign-up fees, monthly fees, or overdraft fees, which plague the users of many other prepaid cards. And no credit check is required to enroll. "With this particular card, the fees aren't as high as many of the other prepaid cards," says Michelle Jun, a staff attorney for nonprofit Consumers Union.

Right - so there are plenty of fees attached . . .



At least with Direct Deposit the money is going from Treasury to your account instead of taking a detour into a private business. You're fortunate that you have the opportunity to choose.

[phleshdef]

14. LOL, right because your bank account isn't with a private business at all right?

That bank account you have where the direct deposit goes to, you are telling me they are some kind of non-profit or government owned entity? Do you not have a debit card with that bank either?

Maybe before you get into all these grievances, you should think about what you are saying first.

[dixiegrrrrl]

23. My bank is a local community bank, down the street.

I know the people, I know the manager, I have banked there since 1993.
If I have a problem, I can walk in and discuss it with them and get it resolved in 5 minutes.

It is the same bank my check goes to.

My issue is not WHERE my Soc. Sec. goes TO.....I was clear about that.

[phleshdef]

26. Your local community bank is a private company and its a bank like any other.

Just because you happen to know the people that work there changes absolutely nothing in terms of what you are complaining about.

[Old Codger]

36. Good way for it

I too have been with the local bank for a long time. Another point for me at least is my checking is still free, no charges for checks, no charge for debit card and no minimum balance required. Probably can't get that a lot of places anymore but still have it here.

[dixiegrrrrl]

53. We have what the bank calls the 5-0 account ( for "seniors")

Things are free, for the most part. Checks are 5.00 per order, they last a year.
No minimum balance either.

so far, so good.

( we also have a lovely law of no property taxes for 65 year old and over homeowners.:7 )

[pipi_k]

64. Another local banking customer

same as you...no fees, no minimum balance.

I also have money in two separate credit unions.

But my check goes to my bank, and from there I can transfer money to my savings accounts in the credit unions.

very cool and convenient

:)

[enlightenment]

31. I think you're missing the point.

Of course my bank is a private entity. The government, however, is not. Social security is a government process - individuals earn money, pay SS tax to the government, and - if they are lucky - eventually collect some monies during retirement.

The government does not hold these monies in a lock-box waiting for beneficiaries, but in the past the distribution of the monies was from the Treasury to the individual. Do they use banks to hold the money they collect and distribute? I believe they do, but the fees incurred are on the Treasury's side, not the beneficiaries side and the checks issued were official government checks. The bank(s) that hold the monies do not control access to the funds or dictate terms of use. Beneficiaries are not charged fees to use the money by the bank that is holding the funds - because while the bank is holding the money, the government is the distributor.

The Treasury is changing the flow of SS funds to beneficiaries by inserting a privately held, for-profit corporation (the Comerica Bank) between the Treasury and the beneficiaries. The bank becomes the distributor and apparently - based on the article I cited - will be able to charge fees to use the debit cards they will issue.

Do you believe they are going to return those fees to the Treasury to be reinvested into the SS program? That's pretty pie-in-the-sky. A private company is being given control over SS funds. That is a form of privatization, regardless of your knee-jerk support for the idea of debit cards.


As for your suggestion - I thought it through it through quite well, but thank you for suggesting I do so. I'll say the same for you. You over-reacted to one word - privatize - and blew a simple statement into some bizarre conspiracy on my part. Frankly, the only failure of comprehension here is yours.

[dixiegrrrrl]

41. Well said.

THAT is the part which bothering me, and your phrase, back door privatization, is so apt.

Naturally it increases the cost of the Soc. Sec. program when 3rd parties are hired to do what
our tax supported government has done in the past.
Worse, as recent history has shown, contractors are almost always immune from any complaints.
The government says " We did not create the problem you experienced, our contractor did".

so, again, I repeat..those who CAN go to direct deposit before the deadline should,
but those who do not have banks are forced to use the debit cards.

[phleshdef]

55. They aren't being "given control". I'm sorry, but you're being WAY over the top.

If you want the same exact control you have now, you get your own bank account and have it direct deposited. And there is no amount of control that Comerica can exact over your social security money. There are already laws in place that ultimately protects social security benefits from any of these ginned up, irrational fears that you are having.

The fact is, this is just more efficient. The world, as it has since mankind existed, is changing technologies. It will save the government money to pay benefits electronically. Naturally, they are going to use a bank that has all the systems in place to facilitate it. It just makes sense.

Its not privatizing social security. Your claim as such is utterly ridiculous. Privatizing social security would mean taking the money I pay in from my paycheck and investing it in private investments instead of just putting it in the damn fund. Thats not changing at all as a result of this. Therefore social security is not being privatized. If you are going to make that claim, then you would have to say that my grandmother is voluntarily "privatizing" her own social security because she has it deposited into a regular ass Chase bank account every month. Thats exactly the measure of how utterly silly your claim is.

[girl gone mad]

104. That's completely illogical.

[phleshdef]

111. Why? Because you said so? Disprove one damn thing I said.

If you find it to be illogical, then your logic and reason abilities are highly in question.

[999998th word]

149. Riight -another layer of private profit sucking-like health 'insurance'

what right wing stink tank thought this shit up.:puke:

[DrunkenBoat]

90. The difference is the money going into many banks v. one centralized bank like JPM.

That's a huge chunk of change for them to play with.

[MedicalAdmin]

112. Main Street vs. Wall Street.

Good to know where you stand on this.

[fascisthunter]

133. We've Known it for a While Now

[dixiegrrrrl]

18. THAT's the name he mentioned!!!!

Thank you for looking that up. Good find.

I DO remember reading that JP was doing Food Stamp ( EBT) and other debit cards.

[alc]

30. Direct Deposit goes through a private business (or 2)

At least 15 years ago when I was in the industry it did for all the banks I knew of. In fact it may go through a couple of different businesses. The government tells one business what transfer it wants. That business puts the transfer in the fed clearinghouse (usually the one run by the fed). Another business (possibly the same one) reads all of the transfers for your bank that night and tells your bank to put the money in your account.

[enlightenment]

35. Do these businesses charge you a fee to process your DD?

The government uses private banks because we no longer have a 'national bank'. We have banks that are designated as 'banks of the US' instead. The government uses private businesses because it is cost-effective to them - the cost is transparent to the end-user (beneficiary). Individuals are not charged a fee for DD.

None of those things include turning over government monies to the control of a private entity and allowing them to dictate terms of use. THAT is privatization.

[phleshdef]

113. This method doesn't charge a fee either. And you DON'T HAVE TO USE IT.

Again, if you have a bank account, you can use DD and your bank account like people do now. The only difference this makes is if you don't have a bank account, the government is basically giving you one just for your social security money. Do you think people who get checks don't have to rely on a private entity to get them cashed?

Your claim that this is giving control to a private entity is just so fucking silly, its barely worth arguing with. The same laws that protect a person's access to their social security money are and always will be, in place. Instead of having to pay to cash a damn check, these people will be able to just use the card. And when it all goes down, no one is actually going to care about your silly, imaginary grievances.

[LuckyLib]

81. This is absolutely right. While your money sits in the debit account, they

have use of that money for the entire time that you are drawing it down. Just like your bank. Hmmmmm. Another feeder in the food chain.

[chill_wind]

11. K & R.

[HappyMe]

12. Checks were getting snatched out of

mailboxes in the neighborhood where I used to live. There was a huge ss check, food stamp stealing & fraud operation being run out of a gas station here.

I have used direct deposit for paychecks and never had a problem with it.

[snooper2]

13. "I am not comfortable about a system that can stop my money flow with a flick of the switch"

ROFL ROFL ROFL ROFL...

Yep, I like it the good old way where they have somebody write my check out by hand, sign it, and walk to the corner mailbox and drop it in :rofl:

[phleshdef]

119. I know. The concerns are either so outlandish or so phony, its almost impossible to respond to them.

[msanthrope]

16. Unrecc for incorrect information. No fees for purchases, cash back, teller withdrawals--

It took me five seconds to find this out. USE THE GOOGLE!!!


3.1 How much do I have to pay for the Direct Express® card?

— Most services are free. There is no cost to sign up for the card and there are no monthly fees. While there are fees for a limited number of optional transactions, it is possible to use the card for free. Free services include:

Purchases at retail locations, cash back with purchases, or cash withdrawals through bank or credit union tellers.
One free ATM cash withdrawal for each deposit posted to account each month $.90 per additional withdrawal (The fee waiver earned for that deposit expires on the last day of the following month in which the deposit was credited to the Card Account). Surcharge fees may apply. There are ATM owner fees called "surcharge fees", if you do not use a Direct Express® card surcharge-free network ATM to withdraw your cash.
Balance information at ATMs, by phone or online.
Optional notification of deposits to debit card by phone, email or text message.
Optional low balance alert when account balances falls below a certain level.
Access to the toll-free customer service number and website 24 hours a day, 7 days a week.
One free replacement card per year (additional replacement cards available for a fee)

Optional services available for a fee include:

More than one ATM withdrawal per deposit ($.90 cents per withdrawal). Surcharge fees may apply. There are ATM owner fees called "surcharge fees", if you do not use a Direct Express® card surcharge-free network ATM to withdraw your cash.
Card replacement after one free replacement card per year ($4.00 per card).
Monthly paper statement mailed to cardholder ($.75 cents per month).

http://www.usdirectexpress.com/edcfdtclient/docs/faq.html#3

You get one free ATM withdrawal per month, and a 90 cent fee after that. Or, just do it for free at a bank or credit union.

[durablend]

22. Uh huh

And as we know, banks NEVER enact fees later on for services they provide.

:sarcasm:

[dixiegrrrrl]

24. Exactly. And they NEVER raise the fees once they are in place, either.

:sarcasm:

[msanthrope]

54. They can't change the fees without a statutory change, originating out of Treasury.

This is a bank acting as a servicer under the authority of Treasury. If they want a fee raise, they need government approval.

And you don't have to use this thing--read the faq I provided. Use direct deposit, and your own bank's debit card.

[msanthrope]

52. They can't change the fees without a statutory change, originating out of Treasury.

You do realize that the banks are acting, in this case, as service providers under the statutory authority of the Treasury Department?

And you don't have to use a debit card. I provided you the faq--try reading it. Get direct deposit, and you will never have this problem.

[Exilednight]

33. Your response -1. You get ONE free cash withdraw, then you have pay 90 cents for

each "optional" ATM withdraw.

The other part I object to is why can't I get direct deposit? Now the government is picking out which bank I can bank with?

[msanthrope]

44. You get as many free cash withrawals as you want, at a bank or credit union.

You get one ATM withdrawal, and then a surcharge. And using this thing is completely voluntary--you don't have to use it if you have a bank account.

Of course you can get direct deposit. Christ. I gave you the link to the faq. READ IT.

[dixiegrrrrl]

58. Exiled....My post was for people who could not or would not get Direct Deposit

by the 2013 deadline.

People who cannot get direct deposit are those who:
Will not have signed up for it by 2013 even if they have checking accounts

or
do not have banking accounts.
Many people do not have banking accounts, they do not have affordable accounts in their area.
In their case, they are given a Debit card, but the card then dictates which bank they have to use.

[Exilednight]

61. Exactly, so the government is now dictating which bank to use. n/t

[msanthrope]

66. No. The entire point is that the debit card is for people who DON'T have a bank.

Have you considered reading the FAQ I posted????

You know, the one from government that explains the program.

You don't have to use a debit card if you have direct deposit. And if you have no bank, you still get your benefits, for free, without a check-cashing fee.

http://www.usdirectexpress.com/edcfdtclient/index.html

[MedicalAdmin]

114. If that is true then set up an account with ING direct and have them transfer it for you.

They absorb the transfer fees as part of doing business. I use an ING account to control the flow of funds between personal and business accounts and for tax set asides...

I hope this helps.

[phleshdef]

116. You are objecting to concerns that do not exist.

1. Thats not different than the dynamic now. If you have to get your check cashed because you don't have a bank, you normally have to pay a fee to whoever cashes it. This way at least, if you draw it all out at once, you don't even have that fee.

2. You CAN get direct deposit and your own bank account and never screw with this card, ever. This will be for people who don't have a bank account, the same people that end up paying the check cashing fees I just described.

[Exilednight]

121. Several of my local banks will cash SS checks for seniors at no cost. Personally, it's

not an issue for me (I'm barely in my 40s), but I protest on the grounds of how this is being done. SS is being outsourced to a private entity and there are hidden charges if someone isn't aware of the "options".

[phleshdef]

134. Social Security is not being outsourced to a private entity. The government still controls the fund.

...and the funding as it always has. Social Security is a FUND that gets FUNDED through payroll taxes. Social Security is NOT the means by which its benefits are delivered. You can not validly make the claim that "its being outsourced" unless the fund and funding are actually outsourced. That is not even remotely close to what is happening. Your claim is bogus, over the top nonsense.

There is absolutely nothing wrong with utilizing a private company already equipped to electronically hold and deliver money to electronically hold and deliver money. As long as people's rights to their own benefits are protected(they are) and as long as Social Security isn't ACTUALLY privatized, like really privatized not in the imaginary way you are saying its being privatized, then there is nothing to be concerned about. Its just makes sense.

[Exilednight]

143. There's something definately wrong with government utilizing private corporations to

distribute money. It makes absolutely no sense if you're going to give the contract to one company like JP Morgan and freeze out little players. What happens the next time JP Morgan finds themselves in another financial disaster, are we going to bail them out and stick SS with the bill?

[phleshdef]

178. You have no clue how anything actually works do you?

If we had to bail someone out, there would be no reason to stick social security with the bill. Again, you are just making shit up because you want the story to reflect something to justify your fear BS. But it doesn't and it won't. These banks are already handling people's social security money every single day, for the millions that use direct deposit to accounts with these very banks. Stop it with the silliness.

[HowHeThinks]

166. SS is not being outsourced......

that's a misconception. This is a money saving measure. Do you know how much it costs to cut millions of SS checks and mail them each month? Neither do I, but I bet it's a LOT! :hi:

[Exilednight]

168. SS is one of the most effectively run programs in the government. I'm not

one hundred percent against this, but people should be given a choice.

[Chan790]

153. um, you can have Direct Deposit...

this regards SS distributions to people who don't have bank accounts...like my grandparents who never trusted banks after the Depression, used to cash their checks monthly and bury the cash on the back 4 acres in coffee cans.

In 2013, they will no longer cut you a check and deposit the cash onto a debit card if you're not signed up for direct deposit...they're only choosing your bank if you refuse to choose your bank.

[dixiegrrrrl]

96. Now that I have re-checked the definition of a misanthrope

things have become very clear.

[msanthrope]

120. You talking to me? If a misanthrope is someone who can read a FAQ from a government

website and figure out that the government just made it much easier for SS recipients to get their money, on time and with minimal hassles and fees, then yeah, I fit that definition.

Wow. Your government is doing something useful!!!!

That's a bit different from neo-con, Faux Nooz-FDL-induced "the government can do no right" meme that your OP seems to ooze.

[sufrommich]

19. It's modern technology. I don't see a problem with it. nt

[Hissyspit]

82. Rebate debit cards I have received don't work half the time?

[dixiegrrrrl]

97. We had same experience, twice, and now no longer rebate.

[SoCalDem]

21. Find a community bank/credit union

most offer FREE checking for seniors and many come with added features like free money orders, travelers' checks, free online banking, safety deposit boxes..and many do not require a minimum balance:)

direct deposit is the best things since sliced bread :)

[newspeak]

25. yes, our credit union

if you have direct deposit, you get from checks.

[dixiegrrrrl]

29. I have a community bank.

With all the freebies.
That is not the issue in my post. WHERE my money goes is not an issue.
The automatic forced use of debit cards instead of checks is the issue for those who may be caught up
in the deadline.

[SoCalDem]

32. If they do not want a debit card, they just need to open an account

If they get a check, they have to take it somewhere to cash it anyway..
debit cards have to be taken somewhere to use it

direct deposit surely seems to be the way to go.

like it or not, checks are going away.

[pipi_k]

69. ....

deleted...never mind....

[HowHeThinks]

164. I think your fears are unfounded.......

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:

[bobthedrummer]

39. My Credit Union granted me, a SSDI fixed income citizen, two loans in the past three years!

No minimum balance for checking, free online banking and other services too.

I never activated the debit card they gave me though.

[Hepburn]

40. How about immediately withdrawing the funds?

What about those who don't have/don't want bank accounts or have no ID for the use of credit cards? Like the homeless.

[msanthrope]

49. This is precisely for people who don't have bank accounts--

I posted the link to the faq, above.

You can still do direct deposit. But after 2013, if you haven't signed up for direct deposit, you will get a debit card. You can then withdraw from that debit card.

[Gold Metal Flake]

65. The homeless do not matter.

Wow, suddenly I get bobbolink.

[msanthrope]

67. This benefits the homeless--no more check-cashing fees, and you don't need a bank account.

You could try reading the FAQ, where it explains how you don't need a bank account, and you can withdraw your money, for free, at banks and credit unions.

You can make purchases, for free, and get cashback, for free.

You get one free ATM a month, so you can withdraw it all and bet the ponies if you want.

Bobbolink will not ever have to pay anyone to cash a Social Security check. Isn't that a good thing?

[Gold Metal Flake]

71. Do ATMs not have a maximum withdrawl per day? ~$300.00.

[msanthrope]

74. So go into ANY bank or ANY credit union and take out the whole shebang and bet the ponies

if you want to. For free.

OR--have direct deposit into a bank account.

[Gold Metal Flake]

76. Bet the ponies?

Is that how you imagine people on SS spend their money? Why should you make any assumptions at all about how people on SS spend their money or in what form they choose to take it? it's certainly not your place to do so as well as very inconsiderate.

[msanthrope]

118. Ironically, I used to take my grandfather to the raceway named for the guy in your sig line.

He would cash his SS check at the bodega and we would drive out and bet the ponies. OTB for when he couldn't go.

Sometimes, he would even buy liquor with his SS check!

Cigarettes, too!!!!!

And he would even play the number....

It was his money. He could spend it as he pleased, as should all retirees.

[msanthrope]

75. dupe.

[MedicalAdmin]

115. Te homeless should just be dead....

:sarcasm:

That IS the plan, isn't it?

[BadgerKid]

42. I guess you mean all the other states will get it.

Apparently the debit card is in use in several states already:

http://money.usnews.com/money/retirement/articles/2008/06/11/social-security-debit-cards-7-things-you-need-to-know

But I'm glad to know of this since a few people I know are on the cusp. Thanks for the tip!

[dixiegrrrrl]

103. You are welcome.

I had no idea until the other day that SS would automatically sign you up for a debit card even if
you had a bank account, if you did not sign up for automatic deposit by the deadline.

True, they include "encouragement" notices to do so with every check, but no where do they tell you
what happens if you do not sign up.

[EC]

43. I felt the same about Direct deposit,

but then the light bulb went off in my head...They could cut off the checks just as easily as an account...so there really isn't anything different about having DD.

On edit: I really don't like the government having my checking account # though.

[HowHeThinks]

165. Haha..........

Do you think the government can't get your checking account number just because you don't provide it? :rofl: They could get an accurate count of the number of hairs on your head in a split second if they wanted to. The NSA has data on file for everyone in this country. Everyone. Any information they want, they'll get, and there's nothing any of us can do about it. Nothing is private anymore.

[southernyankeebelle]

46. I will tell you direct deposit is really good. I wasn't keen on it in

the beginning. When my husband was on active duty I learned quickly have a checking account out of state was very difficult to cash checks. So we made direct deposits of my husband's military pay at his hometown bank where we would retire and every time we went to a new base and I worked civil service we opened up a local checking account. We used it local checks when we went shopping. Direct deposit really is the best way to go. We never had any problems with it.

[whistler162]

47. Direct Deposit means you can't lose the check or

have it stolen from you. Like others have said you can be cut off from the checks just as easy as direct deposit.

[CBGLuthier]

51. I want my checks delivered by pony express

and they must all be hand signed too.

[msanthrope]

63. And backed by gold, right? nt

[pipi_k]

56. On direct deposit...

I've had it for 14 years and never a problem (so far).

And I do all of my banking online...transfers, e-checks, and electronic payments.

Either way...paper checks and relying on a bank clerk to process your transaction properly

or electronic banking...

both come with problems.

I love electronic banking

[RebelOne]

68. When I started receiving Social Security,

I immediately signed up for direct deposit. i have been getting my payments deposited into my checking account for the past 7 years and have not had a single problem. Actually, it gives me peace of mind. With the lousy mail service here in North Georgia, I had a problem with the carrier putting mail in the wrong boxes.

[sarcasmo]

72. Direct deposit is by far the best way.

[AtomicKitten]

73. My Unemployment here in Calif is directly deposited through BofA.

So far, so good.

[Gold Metal Flake]

77. Are you tied to one branch or can you access the funds anywhere?

Do you have a BofA account? Do you have to in order to receive the funds?

[scorpiogirl]

79. I can answer that.

It's basically a BofA debit card and can be used as such. They will charge fees for not using their atms though. And I was told that they will also charge for calling customer service.

We have one and we set up a transfer of the funds to our checking account at our credit union. It does so automatically when the card gets a balance.

[Gold Metal Flake]

84. OK. This is new stuff to me. I'm still a ways from retirement age.

But I expect the chances to get charged fees on unemployment, SS and disability to increase in the years to come.

[GrannyK]

110. There is one issue that hasn't come up

in this conversation.

Just a little heads up FYI.

Several years ago my friends husband passed. His SS direct deposit had already been deposited for that month. SS immediately withdrew the funds from their account and she was not notified. You can guess the turmoil as a result of SS action at such a time.

I have no idea how SS knew of his death. The funds taken from the account did not include the days he was alive. SS only took the funds from the day after his death.

[FlaGranny]

135. Social Security pays as follows:

"If the deceased was receiving Social Security benefits, you must return the benefit received for the month of death or any later months. For example, if the person dies in July, you must return the benefit paid in August."

Your friend should have been able to keep the check she got the month her husband died because that check was for the month before he died. Maybe that is what you meant? The Social Security site says that the funeral director usually sends a notice of death to SS. Explanation here: http://ssa.gov/pubs/10008.html

[dixiegrrrrl]

141. Good reminder.

We are fortunate in that we have a "cushion" in one account for emergencies.

[AtomicKitten]

80. I dumped BofA 4 years ago and am with a local credit union.

I signed up for direct deposit. The first go I found it still sitting in my "account" but was able to extract it from a BofA ATM. Next go it was directly deposited days earlier than I would have received it by mail.

There are no fees for the above but I can't say I'm happy with BofA in the loop.

[Gold Metal Flake]

83. I see. I'm learning a lot in this thread. n/m

[Frances]

78. I have had direct deposit for some time

Much better than a paper check IMO

[Honeycombe8]

85. If you get a debit card, then the amount IS direct deposited, or there would be nothing for

the debit card to draw from, right? Or is this a different kind of debit card? My debit card is just a link to a bank account.

Or...is the debit card a link to a separate Social Security account, I guess? It has to draw money from some account.

[badgerpup]

86. Been receiving SSDI for a long time...direct deposit.

My 'check' is in my credit union ACCOUNT on the third of every month, unless the third falls on Saturday or Sunday.
Then it's in by Friday (the 1st or 2nd).
No mailbox involved.

I've had no difficulties with it...but then I've got a good CU lookin' out for me too...no hidden fees. :thumbsup:

[bvar22]

87. Reccing your thread, and looking forward to my First Social Security Reimbursement Check

in a couple of months,
which WILL be direct deposited into my Locally Owned Independent Bank!
:hi:

[dixiegrrrrl]

105. Hey bvr.....

Congratulations are in order, yes?

Tell ya a funny. I just got a letter from Soc. Sec. telling me that on my next birthday in
a couple of months, because I will be 66, I can go to work and none of my earnings will subject to SS penalty!!!

Isn't that great?? I can go out and find a job!!!
All part of my carefully plotted scheme....get older, retire in an economic depression, go on Soc. Sec.
and wait until the employment rate jumps to 20%, then go out and get a job, just so I can keep the extra loot.
My evil plan is working.
:evilgrin:

[femrap]

92. As long as 'they' are

putting money IN my account, I'm happy. I never authorize anyone to take money out!

[girl gone mad]

98. k & r

[robinlynne]

101. my Mom has had direct deposit for 13 years with no problems of any kind!

[INdemo]

117. Direct deposit is fine no Service Charges and there is nothing at

all to be uncomfortable about.I have had it for over a year and every month on the designated time ii is in my bank account and never missed a beat so far.

[xxqqqzme]

123. I understand your hesitation.

The direct deposit seemed a good way to foil the check theft occurring @ the beginning of each month in large apt complexes. Mail boxes would be destroyed when the checks were stolen. And then there's the hassle of getting the check replaced. Over the years, I've had direct deposit from employers and now SSI. I would be more wary of the debit card. Multiple ways that can be hijacked.

[and-justice-for-all]

125. I have a debit card for my UI...

and I just go to the bank and have the money transferred from the card to my checking or I can call card services and have it transferred that way as well and there is no fee for that.

[Vinca]

126. Direct deposit is very handy. No need to run to the bank to make a deposit.

[customerserviceguy]

128. Checks are expensive to handle

And I'm talking about for Social Security. Not only the printing, envelopes, and postage, but the reconciling of the accounts to see if the checks were cashed or not.

Time to get with the 21st Century. You can find a credit union to use for direct deposit, and avoid all the fees. The only people who will be getting nickel and dimed to death with fees are those who just aren't motivated enough to find an institution that they can set something up with on a one-time basis.

[formercia]

130. I use Direct Deposit

into my Credit Union Account (I use DCU) no fees. They will even refund fees that other banks charge if you use their ATM. They issue me a free Credit and Debit Card, free checks and all kinds of free services. They have very secure E-Banking that I can use anywhere there is an internet connection. I've used it all over the Country and never had a problem. It's great if I travel. Never have to worry about carrying cash, except for Tips.
If I were homeless tomorrow, I would still be able to go to the library and do my banking and pay bills online.

[Octafish]

140. Personally, I'd rather be homeless than 'bankless.'

What a world, eh non-pilgrim?

[formercia]

142. I would choose Dignity over Wealth

Having been homeless for several Years, thanks to Poppy and the Crew, I learned about 'Class Warfare' many Years ago. As a result, my Social Security payment is quite small, but, It gives me some independence.
My family thinks that I was foolish to give up my career and live in poverty. I would rather be a pauper than a lackey for the Pilgrims Society.

:hi:

[SkyDaddy7]

131. I have had DD of my SS check for 7yrs...

Not a single problem yet! Seriously, NOT ONE.

I hope that helps relieve some of the stress you might be under.

[barbtries]

136. i get paid by direct deposit

it's been very good. the debit card part i do not like and will be sure to have a bank account when i retire.

[caseymoz]

147. At the end of the Soviet Union, the main punishment for dissent was not the Gulag.

Nor was it the psych ward.

No, they simply invalidated your ration card, leaving you destitute on the spot.

These damn government-issued debit cards sound exactly like that set up. Maybe Repubs are right in calling this socialism, except in the last stages of decay. It looks like capitalism has us on the fast track.

[lonestarnot]

151. Cozy hugh. They've us all wrapped up with press and seal. No escape.

[Scottybeamer70]

152. I've had the SS debit/credit card for

a year now. I've never had a problem. The money is always there when it is supposed to be.
I can withdraw money from any bank at no charge, or opt to use an atm machine and pay whatever
their regular fee happens to be. I've never been charged anything by the company issuing the card.
I've never been charged for "cash back" either. I personally like the card better than dealing
with a bank that might be shut down at any time.

[joshcryer]

157. My mom did this early, she was going to get one of those debit cards, but I emplored her to get a...

...Credit Union account instead. Many many credit unions offer free accounts with no fees. Banks are bad news because they require minimum monthly deposits, have hidden fees, and so on. Credit Unions, the good ones, don't have these issues.

[BlueMTexpat]

158. I've been getting SS for nearly two years now, always by

direct deposit, which has worked for me just fine. I appreciate it even more because I live overseas for the most part and the funds are deposited directly into my overseas account, meaning that I get immediate access, without having to wait for a check to arrive (assuming it doesn't get lost in the mail), endorse it, pay the check cashing fee and perhaps lose even more on the exchange rate if the check funds are in USD. For direct deposit, the US Treasury converts to the foreign currency at source using the universal exchange rate (SS will not send USD overseas via DD), while my not too loverly bank always tries to give me a few points less.

I recc'd your post because it provides information, not because I favor checks. I think that if that money flow is going to get stopped, it will get stopped for both DD AND checks. If that day ever happens, we will all certainly rue it.

And please believe, as I sincerely do, that such a day could indeed happen with ANY Republican ever again in the WH. They just don't "get" it.

[Historic NY]

161. I like direct deposit its there sometimes even earlier than expected.

I have e-mails alerts setup with my credit union on-line banking to let me know when it there.

[crazyjoe]

163. great news! the government is finally catching up with the private sector.

DD is fast, convenient, and safe. Your money is always there on time, no delays while the "check clears". I don't see the problem here, some folks just choose to complain about every change and pretend it's the end of the world.

[WinkyDink]

174. Some people have no bank accounts. Just like they have no domiciles.

[crazyjoe]

182. so they open an account, it's free with DD at most banks

[harun]

177. I think it is better as well but I think people should have the option.

[newfie11]

167. When I worked all my money was automatically deposited in the bank

My SS is done the same way. I have never had any problems with having it done.

[WinkyDink]

175. Adding to the demise of the USPS, one letter at a time.

[kestrel91316]

179. So, those of us who won't start collecting for a decade or more are stuck with the debit card???

Because I sure as s--- can't "sign up" for direct deposit yet, unless there is a provision for doing it way in advance of collecting.