Social Security Change Impacts Payments for Millions as New Cards Issued
Summary
The U.S. government is switching the bank that manages prepaid debit cards for about 3.6 million Social Security and Supplemental Security Income (SSI) recipients from Comerica Bank to Fifth Third Bank. This change will not affect the amount or timing of their payments but will require new cards to be issued from this summer through 2027.Key Facts
- Around 3.6 million Americans who receive Social Security or SSI benefits via Direct Express prepaid debit cards will be impacted.
- The financial institution managing these cards is changing from Comerica Bank to Fifth Third Bank.
- Payment amounts and schedules will stay the same; this is an administrative change only.
- New card issuance started in early 2024, with a full transition expected by late 2026 or early 2027.
- Most affected recipients are elderly, disabled, or do not have regular bank accounts (unbanked).
- Current cards can be used until they expire; no immediate action is needed other than keeping addresses updated.
- The Treasury Department aims to modernize the program with better online access and app features.
- The change aims to maintain or improve customer service and payment security without disrupting benefit delivery.
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