Is Direct Express for you? Posted
by Michelle at 07/03/08 12:54 PM
If you are a Social Security recipient who is interested in the Direct Express card, we have some tips for you. Generally, the card is a good idea for recipients who do not have a bank account and are interested in direct deposit. You’ll be able to access your funds at ATMs, at stores and inside the bank with tellers. And, if you're in the know, you can avoid paying most fees.
Direct Express cardholders won’t have to worry about whether their checks are safe, or the cost and time it takes to cash in the checks. Also, the Department of Treasury has negotiated certain protections with Comerica, who issues the card. Among these protections are lower fees than those found with other prepaid cards.
All Social Security recipients can sign up for the Direct Express debit card. It will be available nationwide starting August 2008. Social Security benefit recipients in Alabama, Arkansas, Florida, Georgia, Louisiana, Mississippi, North Carolina, Oklahoma, South Carolina and Texas already can take advantage of the card.
Check out our Fact Sheet for answers to any questions you might have about the card, and for a useful chart on the card’s fees.
One warning: Beware of any potential copycat cards that are bound to be laden with huge fees and lesser protections!
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