Gov't Ends Paper Checks, Starts Direct Deposit

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The Obama administration has ordered the government to stop mailing paper checks and to instead make direct deposits.

ABC News reports payments from checks including Social Security, veterans benefits, and even tax refunds will now be deposited directly into personal bank accounts.

And those without an account will be paid by a direct express debit Master Card program.

The White House said this new system will be easier and faster for people to get paid and it will also save millions of dollars.

"(The) announcement is a win-win for the American public because it makes government more convenient and cost-effective while generating significant savings for the country," said Office of Management & Budget director Peter Orszag. "This is precisely the type of smart, streamlined improvement that this administration is committed to making across government to boost efficiency and modernize how we do business."

The new rule will go into effect March 2011.

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