January 7, 2013
DEAR ABBY: Please help me spread an important message to people who receive Social Security or other federal benefits each month via one of the estimated 5.4 million paper checks each month. Starting March 1, the Treasury Department is requiring all Social Security, VA, SSI and other federal beneficiaries receive their benefits by electronic payment. Senior citizens and other federal beneficiaries may choose either direct deposit or the Treasury-recommended Direct Express Debit MasterCard.
June 26, 1987 |
A group of area banks yesterday launched a $40,000 campaign to convince the elderly to use direct deposit for their Social Security checks. The campaign, called "Freedom Payments," is supposed to prove to retirees that they are better off using the government's system of depositing their checks electronically in their bank accounts, instead of the traditional method of obtaining the checks in the mail and personally bringing them to a bank teller...
January 19, 2000 |
About 5,000 checking account customers who were transferred from First Union to United Bank of Philadelphia failed to get funds through direct deposit in December and January, a bank official said. Hundreds of the deposits affected are Social Security checks which should have been sent Jan. 3, according to Chris Williams, spokesman for the Social Security Administration. Many of the other deposits were supposed to come from private retirement funds, said Ted Travis, director of marketing and communications at United.
January 9, 2012 |
For Philadelphia teachers cranky about paychecks again not arriving in the mail by Friday, the School District has two words: direct deposit . "We can't guarantee delivery by the post office," district spokesman Fernando Gallard said. "If you need a check by a guaranteed time, then sign up for direct deposit. " During the week before Christmas, which fell on a Sunday, some teachers said their checks had not arrived by Friday, as they had come to expect. That meant holiday gifts weren't bought and yuletide plans were fouled.
May 23, 1993 |
Do you still take a paycheck to the bank every week or two, waiting patiently in line for the smiling teller to stamp it and give you back a receipt, perhaps along with some cash? How crude. How old-fashioned. How inefficient. To be truthful, you're still in the majority. An estimated seven out of 10 American workers still receive a paper paycheck, which they deposit or cash by hand at a teller window or - if they are technologically advanced - at an automated teller machine.
October 31, 1997 |
Marion Newman thinks of her job as part tax collector, part welcome wagon. Her opponent, James Geslak, thinks of it as a fossil. And the Towamencin Board of Supervisors doesn't want to think about the antiquated position they are running for at all. In the two-way race for Towamencin's tax collector, bureaucratic entrenchment is grinding up against the 21st century. Newman, a 20-year incumbent, turned down an offer this year to take $10,000 - twice her salary - to sit on the sidelines and allow the township to collect its own taxes.
June 19, 1989 |
Ever wonder why you trudge to the bank each payday, spend your lunch hour standing in line, only to have a surly teller deposit your pay? Workers, revolt! Direct deposit can change your life, true believers say. "I haven't stood in a teller line for eight years; I was sick and tired of it," said Philip H. Fredricks, an engineer with United Engineers & Constructors Inc. in Philadelphia. Fredricks is one of the fortunate. Each payday his employer automatically - and with electronic ease - deposits Fredricks' pay into his bank account.
May 3, 2013
DEAR HARRY: One of my chief financial concerns is having control of my finances. I have set up a will, legal and medical powers of attorney, etc., through a lawyer who specializes in elder law. I'm still leery of online banking because of the security risk, the risk of errors, the possibility of getting confused. I am nearing 83 years old and feel that I'm slowing down. I'm thinking of setting up an automatic-payment plan to handle my monthly credit-card bill. For years, I have had direct deposit for my Social Security and my pension, as well as automatic payments for all my bills other than my credit card.
June 14, 1993
THE DIRECT-DEPOSIT BANKING SYSTEM IS DEFENDED Diane Rose's May 31 letter, which labeled direct deposit of payroll a "scam" that will lead to a government-controlled society, is high on hype but short on facts. Direct deposit not only allows employees to access their pay more quickly than with a paycheck, but it is a beneficial system for employers and financial institutions, too. The main assertion in Ms. Rose's letter is that direct deposit somehow leads to increased usage of credit cards.
August 7, 1995 |
People love to complain about the hassle and expense of dealing with banks: long teller lines, short hours and ever-increasing fees for every service from ATMs to checking accounts and credit cards. Next time you grumble, do something about it. Sign up for direct deposit. Getting your paycheck wired electronically into your bank account saves time, and now it's also a great way to save money. It can cost banks more than $1 every time you deposit a paper check. So they're willing to pay you to stop.