If you receive benefits such as Social Security or Supplemental Security Income checks by mail, get savvy! The U.S. Department of the Treasury is phasing out issuing paper checks in favor of electronic deposit. By March 1, 2013, you will need to switch either to direct deposit to your bank or credit union account or to a Direct Express Debit Master Card account.
Go Direct is a program of the U.S. Treasury Department and the Federal Reserve Bank that can help you understand the new requirements and sign up for direct deposit or a prepaid debit card. Sign up online or call the Go Direct Helpline Monday – Friday at 800-333-1795 (English) or 800-333-1792 (Spanish).
Sign up for Go Direct
What To Do if You Don't Have a Bank Account
Ask your local bank or credit union about their low or no-fee banking account options and read the small print about what fees may be included before choosing the type of account that's best for you.
If you don't have a bank account and live in Manhattan, check out Bank On Manhattan (Cuenta con Manhattan) designed to help you open a basic account and to provide a second chance if you've had problems managing an account in the past. Telephone: 877-646-2226.
Learn more about Predatory Lending (in PDF)
When your financial situation gets complicated, it’s more important than ever to be financially savvy. Sitting down one-on-one with a professional can mean the difference between endless financial worry and peace of mind that you’re on the right track toward financial security. The City’s FREE Financial Empowerment Centers can help you take control of your debt, improve your credit, deal with debt collection, create a budget, open a bank account and much more. One-on-one free financial counseling is provided by professional counselors in person or by phone at 18 centers in the City.
