The U.S. Department of Treasury is currently working on a direct mailing campaign dedicated to encouraging certain VA compensation or pension check recipients to use the Direct Express Debit MasterCard to receive their monthly payments.
VA compensation or pension check recipients living in Texas, New York, California, Mississippi, Kentucky, Georgia, and West Virginia already received the Debit MasterCard mailer a few months prior, and more are expected to receive it in the coming months. Recipients of the mailer can expect to find a letter from the Treasury’s Financial Management Service, a brochure detailing the card, a sign-up form, and a postage paid envelope.
Currently, most VA compensation or pension recipients receive their benefits via paper checks which are not only expensive, but are not nearly as secure as the debit cards. Checks are easily stolen or lost in the mail, and take weeks to replace which can make life difficult for Veterans living on a fixed income.
Last year alone, over $69 million in checks were forged which caused delayed payment to thousands of compensation and pension recipients.
There will be no need to wait around for checks with the new Direct Express Debit MasterCards. VA benefit recipients will be able to immediately access funds on payment day. Other benefits of the card include free basic services, free sign-up, no monthly service fees, and no overdraft charges.
The card can be used anywhere Debit MasterCard is accepted, and even those without a bank account can sign up to receive the card. If the card is lost or stolen, it will be quickly replaced, and users don’t have to worry about their funds being stolen as accounts are protected similarly to other debit and credit cards. The Debit MasterCard is even FDIC insured.
To sign up for the Direct Express Debit MasterCard, VA compensation or pension check recipients should call (888) 544-6347 between the hours of 8 a.m. to 8 p.m EST, Monday through Friday.
Photo thanks to Alanchan under creative common license on Flickr.