How you receive your Social Security, VA benefits may change in fall: What to know
Share this @internewscast.com

(NEXSTAR) — There have been various updates to government benefit payments this year, which have included both increased payouts for some beneficiaries and the retrieval of certain overpayments for others. In approximately two months, a further adjustment is anticipated — this one concerning the method by which beneficiaries receive their payments.

Earlier in March, President Donald Trump enacted an executive order aimed at modernizing the process of handling “payments to and from America’s bank account.” The order highlighted that transactions via paper checks and money orders from the nation’s general fund are “16 times more prone to being reported lost, stolen, returned as undeliverable, or altered” in comparison to electronically distributed funds.

In an effort to curb these issues and boost “operational efficiency,” Trump’s order stipulates that, with limited exceptions, federal funds should be transmitted electronically.

The order impacts “all Federal disbursements inclusive of intragovernmental payments, benefits payments, vendor payments, and tax refunds.” That includes any benefits sent out by the Social Security Administration and the Department of Veterans Affairs. 

Under Trump’s order, acceptable digital payment methods include direct deposit, prepaid cards, digital wallets, real-time payment systems, and “other modern electronic payment options.”

Paper payments are set to end on September 30, with a few exceptions. 

If you are without access to banking services or electronic payment systems, you may still be able to receive a non-electronic payment. Other exceptions outlined in Trump’s order include “emergency payments where electronic disbursement would cause undue hardship,” transactions in which non-electronic payments are “necessary or desirable,” and other situations as determined by the Treasury Secretary. 

The Social Security Administration and the Department of Veterans Affairs did not immediately respond to Nexstar’s request for additional information. Data from the former shows more than 99 percent of beneficiaries already receive payments via direct deposit.

If you don’t already receive benefit payments electronically, you’ll need to log into your account to update your Social Security direct deposit details, speak with a representative, or contact your bank. The latter can provide your direct deposit information to Social Security on your behalf. You can also update your payment details for VA benefits online or over the phone.

It’s also worth noting that the order calls for “the payment of Federal receipts” to be made electronically as well. That means if you owe federal taxes, you may not be able to send it in as a check or an envelope of cash and coins. The same could be said for federal student loan payments.

Share this @internewscast.com
You May Also Like

Developer Shares Insights on The Promenade at Boones Creek and Upcoming Publix, Highlights Growing Business Interest

A new development in Boones Creek, Tennessee, has been given the green…

GOP Voices Concern Over Spanberger’s New Public Safety and Homeland Security Secretary Selection

Virginia Republicans have voiced their disapproval of Governor-elect Abigail Spanberger’s decision to…

Texas Senate Race Reveals Democratic Divide on Trump Strategy for Midterms

WASHINGTON – In the early stages of her Senate bid, a congresswoman…

Heartbreaking Case Unveiled: Johnson City Couple Faces Serious Child Abuse Charges

In a concerning development, authorities in Washington County, Tennessee, have detained a…

Australia’s Social Media Restrictions Raise Concerns for 15-Year-Old About Staying Connected with Friends

MELBOURNE – Living on a remote sheep farm in the Outback, 15-year-old…

Urgent Alert: Boil Water Notice Issued in Coeburn – What Residents Need to Know Now!

The Virginia Department of Health, in collaboration with the Town of Coeburn…

New Smyrna Beach Says ‘No’ to Peddle Pubs: What This Means for Local Tourism

NEW SMYRNA BEACH, Fla. – In a decisive move, the New Smyrna…

Kenny Hawkins Honored as ‘Champion of Kids’ by Boys & Girls Club of Elizabethton

In Elizabethton, Tennessee, News Channel 11’s Sports Director, Kenny Hawkins, received a…

Sarkozy Opens Up About Prison Experience and Shares Insights on Engaging the Far Right in Latest Book Release

PARIS – In a newly published memoir, former French President Nicolas Sarkozy…

Bristol’s Community Initiative Secures Additional $20K Boost from City Council

BRISTOL, Va. (WJHL) – In a recent decision, the Bristol, Virginia City…

Tennessee Farmers Anticipate Significant Losses as Federal Relief Program Launches

Farmers are facing a financial squeeze as escalating expenses for fertilizer, fuel,…

Wisconsin Judge Declines Recusal Request from Ex-Trump Lawyer

MADISON, Wis. – In a decisive move on Tuesday, a Wisconsin judge…