U.S. Treasurer Kicks off One Year Countdown to All-Electronic Social Security Payments
Encourages remaining check recipients to switch now to the safety and convenience of electronic payments and help save taxpayers $1 billion.
Treasurer of the United States Rosie Rios started an official countdown clock, marking one year until the March 1, 2013 deadline when all federal benefit recipients must receive their Social Security and other federal benefit payments electronically. Treasurer Rios urged remaining paper check recipients to switch now and help taxpayers save $1 billion over 10 years.
Read the press release.
About payologie
NACHA manages the development, administration, and governance of the ACH Network, the backbone for the electronic movement of money and data. The ACH Network provides a safe, secure, and reliable network for direct account-to-account consumer, business, and government payments. Annually, it facilitates billions of Direct Deposit via ACH and Direct Payment via ACH transactions. Used by all types of financial institutions, the ACH Network is governed by the fair and equitable NACHA Operating Rules, which guide risk management and create payment certainty for all participants. As a not-for-profit association, NACHA represents more than 10,000 financial institutions via 17 regional payments associations and direct membership. Through its industry councils and forums, NACHA brings together payments system stakeholders to foster dialogue and innovation to strengthen the ACH Network. To learn more, please visit www.nacha.org, www.electronicpayments.org, www.payitgreen.org, and direct.nacha.org.
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