Why is the U.S. Department of Treasury encouraging benefit recipients to consider the Direct Express® card?
The Direct Express® card is a safer and more reliable than paper checks. People currently receiving federal benefits by paper check, and those applying for federal benefits for the first time, are encouraged to consider the Direct Express® card – particularly if they don’t have a checking or savings account. Americans are increasingly open to – and actively seeking – alternatives to cash and paper checks. According to a 2007 study by the Federal Reserve, of the 93 billion non-cash transactions in 2006, more than two-thirds were electronic payments. Furthermore, debit cards now surpass credit cards as the most frequently used electronic payment type. To put this in context, Americans made more than 25 billion debit card purchases valued at $1 trillion and made 5.8 billion ATM cash withdrawals in 2006. In addition to Americans’ increased preference for debit cards, individual states have paved the way for a federal benefit debit card by widely introducing child support, unemployment insu
Related Questions
- Will the U.S. Department of the Treasury mandate the use of this card for benefit recipients who currently use paper checks and dont have a checking or savings account?
- Why is the U.S. Department of Treasury encouraging benefit recipients to consider the Direct Express® card?
- Why is the U.S. Department of Treasury encouraging recipients to consider the Direct Express® card?
