Texas Ranks Second in Paper Checks for Federal Benefits as Deadline to Switch to Electronic Payments Approaches
Dallas, TX, June 02, 2012 --(PR.com)-- Texas currently ranks second among the states that still receive federal benefits such as Social Security and unemployment by paper checks with more than 440,000 checks issued per year according to the U.S. Department of the Treasury. By March 1, 2013, anyone receiving a payment by paper check will need to switch to an electronic payment – either Direct Deposit via ACH or Direct Express prepaid card – as paper checks will no longer be available.
Only California receives more paper checks for federal benefits than Texas with a total of 507,561. New York follows Texas with 409,268 checks, Ohio comes in fourth with 260,679 checks and Pennsylvania rounds out the top five with 253,863 checks.
To help raise awareness about this transition, Dallas-based SWACHA, one of the largest not-for-profit regional electronic payments associations in the country, has partnered with the U.S. Department of the Treasury through the Go Direct® campaign to ensure everyone knows to make the switch.
“This transition is a giant step in the right direction for the taxpayer,” said Dennis Simmons, AAP, president and CEO of SWACHA. “Eligible Americans will receive payments on a faster, more secure network, and taxpayers will save $120 million per year in printing and shipping costs. Not to mention the environmental benefits.
“Texas has a large population so it is not surprising that there are a big number of paper checks still being issued, but the bottom line is we still have a large number of people who need to make the switch to electronic payments. The financial industry is working hard to ensure there is widespread awareness of this switch through educational initiatives like this month’s Direct Deposit and Direct Payment campaign. We don’t want anyone to be caught off guard.”
For more information about the Go Direct® campaign or to switch your federal benefit payments to Direct Deposit or Direct Express prepaid card, visit www.godirect.org.
About SWACHA
SWACHA-The Electronic Payments Resource®, is one of the largest not-for-profit regional payments associations in the country with approximately 1,100 members across the Southwest. SWACHA is the resource of choice for financial institutions and corporations in the areas of education, training, payments system risks and knowledge about electronic payments. For more information visit:
Web: www.swacha.org
Facebook: www.facebook.com/bringingpaymentstogether
Twitter: @SWACHA
Only California receives more paper checks for federal benefits than Texas with a total of 507,561. New York follows Texas with 409,268 checks, Ohio comes in fourth with 260,679 checks and Pennsylvania rounds out the top five with 253,863 checks.
To help raise awareness about this transition, Dallas-based SWACHA, one of the largest not-for-profit regional electronic payments associations in the country, has partnered with the U.S. Department of the Treasury through the Go Direct® campaign to ensure everyone knows to make the switch.
“This transition is a giant step in the right direction for the taxpayer,” said Dennis Simmons, AAP, president and CEO of SWACHA. “Eligible Americans will receive payments on a faster, more secure network, and taxpayers will save $120 million per year in printing and shipping costs. Not to mention the environmental benefits.
“Texas has a large population so it is not surprising that there are a big number of paper checks still being issued, but the bottom line is we still have a large number of people who need to make the switch to electronic payments. The financial industry is working hard to ensure there is widespread awareness of this switch through educational initiatives like this month’s Direct Deposit and Direct Payment campaign. We don’t want anyone to be caught off guard.”
For more information about the Go Direct® campaign or to switch your federal benefit payments to Direct Deposit or Direct Express prepaid card, visit www.godirect.org.
About SWACHA
SWACHA-The Electronic Payments Resource®, is one of the largest not-for-profit regional payments associations in the country with approximately 1,100 members across the Southwest. SWACHA is the resource of choice for financial institutions and corporations in the areas of education, training, payments system risks and knowledge about electronic payments. For more information visit:
Web: www.swacha.org
Facebook: www.facebook.com/bringingpaymentstogether
Twitter: @SWACHA
Contact
Granado Communications Group
Chris Martin
214-599-8467
www.swacha.org
Chris Martin
214-599-8467
www.swacha.org
Contact
Categories