The Target security breach may just be the tip of the iceberg. It now appears it's also affecting those who collect Social Security.
When you qualify for Social Security you receive a pre-loaded debit card [if you don't already have an account of your own]. It allows users to pay bills, buy groceries and withdraw cash.
If you used your Social Security US Direct Express debit card during the Target security breach, expect a call from your bank. That call will likely inform you that a new card is on the way. But in that 7-10 day period it takes to receive that new card, some accounts may be frozen.
Many of these card holders rely solely on the money they collect from Social Security soQuery: Will the banks notify Social Security or the Treasury that the account numbers of these individuals have been changed? I'll guess that the answer is no. Will the banks warn recipients of government benefits that they need to notify the government that their account number has been changed? Again, I'll guess that the answer is no. If no one notifies the government, are the banks going to bounce Social Security payments back to the Treasury? I'll guess yes to this question. I hope my guesses are wrong because if my guesses are correct this will be a real mess.
not being able to access that money could pose a hardship.