Starting this spring, Social Security recipients in Texas, Oklahoma, Arkansas and Louisiana will have the option of collecting benefits on a prepaid debit card instead.
The card will look and feel like a regular debit card, and could be used for ATM withdrawals, in-store purchases and online transactions. Delaware will get the "Direct Express" option sometime between June and September. But beware: Not every card transaction will be free.
Might save the government money in printing checks, but probably just one more thing for knuckleheads to lose.
ReplyDelete"The MasterCard-branded card would have no monthly maintenance fees and no transaction fees for store purchases. It would allow one free ATM withdrawal per pay period. After that, there would be a charge of 90 cents for each ATM withdrawal."
So MC will probably get fat on ATM withdrawals, since the people with these cards probably won't be the sharpest tool in the shed.