Protect Your Money With Direct Deposit
January 10, 2007 by Karen Weideman
Filed under financial matters
Do you receive Social Security, disability, or other federal benefits by check? If so, you need to know that direct deposit is a safer option.
Each month millions of Americans get their Social Security payment sent to their homes. Criminals know when these benefit checks arrive in the mail and they can target them for theft and forgery. Last year about 65,000 U.S. Treasury-issued checks were forged, with an estimated value of $60 million.
You can protect yourself by signing up to have your check direct deposited into your checking or savings account. It’s easier, safer, and more convenient because your check goes straight to your account on payment day. You also don’t have to worry about driving to the bank to deposit your check.
Source: State Employees Credit Union, Picture from wmsecurities.com
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