The finish of money: The increase of Prepaid Cards, Their prospective, and Their Pitfalls

Quite simply, starting in March, many brand new recipients of government payments no further get paper checks.

This move is anticipated to save lots of the authorities $1 billion throughout the next 10 years. Not merely are electronic re payments usually less costly to process than paper checks, nevertheless they may also lower the possibility of fraud and that can offer more freedom to recipients, based on the national government Accountability workplace.

This means that recipients of federal payments have two options: They can elect to receive their payments by direct deposit to a bank account of their choice, or they can use a government-issued prepaid card called the Direct Express Card in practical terms. Plus »