The Social Security Administration electronically transfers monthly payments to recipients via direct deposit. Direct Express MasterCards are used by those receiving SSI payments who do not have a bank account or prefer to have their payments transferred to a debit card. Once the funds have been loaded to the card, you can use it to pay bills and make purchases at any retailer that accepts MasterCard. If you need cash, you can obtain it from banks, credit unions or ATMs. The use of out-of-network ATMs carries surcharge fees; however, there are a number of surcharge-free ATMs available.
You can report all lost or stolen SSI MasterCards to Direct Express' customer service department at 1-888-741-1115. Federal consumer protection covers the account and money deposited into it is FDIC-insured. A new card is issued, although a card replacement fee will be charged for each new card if it needs to be replaced more than once per year. To help prevent identity theft and loss or misuse of benefits, you should contact the SSA at 1-800-772-1213 as soon as possible.Learn more about Credit & Lending