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

Carter County Drug Trafficking Suspect Faces New Murder Charge

In a significant development stemming from an ongoing investigation, a young man…

Goldman Sachs and Morgan Stanley Report Impressive Double-Digit Profit Growth as Stock Market Climbs

NEW YORK – Wall Street’s major investment banks, buoyed by a robust…

NYC Nurses Strike: Critical Negotiations with Hospitals to Resume on Day 4

NEW YORK – Nurses in New York City, currently on strike, are…

Cuban Mass Protests Condemn US Actions in Venezuela, Demand Maduro’s Freedom

HAVANA – On Friday, a massive gathering of tens of thousands took…

Scott County Tragedy: Son Allegedly Shoots Father in Virginia Incident

In a disturbing incident that unfolded in Scott County, Virginia, law enforcement…

Florida Woman Charged with Assault After Alleged ICE Encounter Turns Violent: Attorney General Reports

JACKSONVILLE, Fla. – Authorities arrested a woman on Tuesday following an altercation…

Greenlanders Share Their Thoughts on Trump’s Interest in Buying Their Arctic Home

Greenland, an Arctic island known for its stark beauty and strategic importance,…

Escapee Billy Fletcher Admits to Second-Degree Murder in Plea Agreement with Carter Co.

A man from Carter County, Tennessee, who was previously accused of escaping…

Uganda’s Vote Tallying Begins Amidst Opposition Criticism

KAMPALA – Uganda commenced the vote count for its high-stakes presidential election…

Sullivan County Commissioner Faces New Court Date Amid Sexual Battery Allegations

ASHEVILLE, N.C. — The unfolding legal situation involving Joe Carr, a Sullivan…

Marion Police Chief Unveils Shocking Child Sex Crime Probe Linked to Ex-Substitute Teacher

In Marion, Virginia, a 50-year-old man named Robert Nolan Wolfe found himself…

Myanmar Challenges Genocide Allegations in Rohingya Case at UN’s Highest Court

THE HAGUE – In a staunch defense at the United Nations’ highest…