You have requested to receive certain federal government benefits by a Direct Express® Debit Mastercard® Card issued by Comerica Bank , rather than receiving a check or direct deposit to your checking or savings account. You do not have to accept this benefits card. If you do not agree to accept the Card under these Terms, do not activate your Card. Instead, dispose of it by cutting it in half, notify Customer Service at the number below, and contact the agency paying your benefits to make other arrangements for receiving future benefit payments.
How Does The Direct Express Card Work
Each month, your money is automatically deposited to your Direct Express® card account on your payment date. You can go to any bank, credit union, or ATM that shows the Mastercard® logo, even if you do not have a bank account.
- buy from any place that accepts debit card payments
- get cash from any ATM, bank, or credit union that shows the Mastercard® logo
- pay your bills online or over the phone
Problems With Direct Express Debit Cards For Social Security Recipients Are Widespread
CHICAGO — An 80-year-old Chicago woman is still fighting to access her Social Security money days after CBS 2 first got involved.
It is because of debit card problems that CBS 2 Political Investigator Dana Kozlov reported Monday are plaguing people across the country.
Ida Walker was frail and exhausted as she left a Social Security office on Monday. On Friday, a Social Security Administration employee told Walker to go in person so as finally to solve a problem she has had with her U.S. Direct Express debit card, which is linked to her Social Security funds.
Walker spent three hours in the Social Security office on Monday.
When asked if they were able to work it out, Walker said, “That, I don’t know.”
We first told you about Walker’s ordeal Thursday. She and her granddaughter have spent three weeks calling the U.S. Direct Express to activate a replacement card only to get the runaround.
It meant she was cut off from her funds. And guess what happened on Monday.
“They’re saying that we can now use the cards just activate the numbers on the cards, and it will be no problem,” said Walker’s granddaughter, LaShawnaWalker.
But that’s exactly what they have already been trying to do for three weeks.
Based on the response we got to our initial story about Ida Walker’s frustrating attempts to access her Social Security funds and activate her Direct Express card, hers is not an isolated case.
Kozlov heard from a dozen people, by phone and email, who have the same problem.
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How Do I Find My Bank Transit Number
If you have a checkbook, the easiest way to find your bank transit number is to simply look at the bottom left corner of any check. Your transit number should be printed there. If you dont have any checks, the transit number can still be relatively easy to find. You can find the number by heading to your banks website, calling your bank branch or support line, or visiting your branch in person.
Big banks like Wells Fargo or Chase typically have a different transit number for each state it has branches in. In addition to having multiple numbers for different states, some banks have different transit numbers for different types of transfers. Some banks assign one number for paper transfers, one for electronic fund transfers , and one for wire transfers, because they handle these transactions in different ways. If youre unsure about which routing number you need, just call your bank and theyll be able to direct you.
Direct Deposits For Banks Summary
As you can see, direct deposit times vary based on banks and institutions. Even federal government agencies and SSI direct deposits post at different times as well.
However, through payroll software and payroll services, the time it takes for electronic deposits to go through is reduced. As an employee, you can be assured to receive your deposit on your pay date.
Once your direct deposit hits your bank account, you can spend the money. Through the bank direct deposit times listed above, you will be able to plan andbudget your money appropriately. Knowing when your deposit posts can save a person a lot of financial stress and anxiety.
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Using Your Direct Express Card
- Direct ExpressÂ® cardholders may avoid such instances by not using the card to reserve hotel rooms or rental cars unless the card account has a balance sufficient to cover the hold. Although certain gas stations may put a hold on pay-at-the-pump debit card payments, where valid ID and a signature are not required for payment. Direct ExpressÂ® cardholders may avoid such practices by simply paying the cashier in person.
- When you check into a hotel or rent a car – or if a restaurant or other business asks for your debit card in advance of service – ask if the company is “blocking”. Also ask how much will be blocked, how the amount is determined, and how long the block remains in place. Consider paying hotel, motel, rental car, or other “blocked” bills with the same debit card you used at the beginning of the transaction. Ask the clerk when the prior block will be removed. If you pay with a different card, by cash, or by check, remind the clerk you are using a different form of payment and ask them to remove the prior block promptly.
Advantages Of Direct Deposit
Direct deposits offers a lot of advantages for employees and employers.
For employees, they dont have to wait for a paper check to be mailed or handed out at work, especially if that employees is sick.
Additionally, since employers are using ACH transfers, there are certain regulations and agreements regarding what time direct deposits go through and post to an account.
Another advantage for employees is they also have a calendar from their employer with direct deposit times stating what time their direct deposits will go through.
Some of the advantages of direct deposits for employers would be that they no longer have to purchase check paper and physically produce a check.
There is a tremendous time savings by employers using ACH transfers as well.
Once the direct deposit goes through and posts to your account, you have access to that money.
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Can I Transfer Money From Direct Express To A Bank Account
Yes. You may transfer funds from your card account to a personal U.S. bank account.
However, a fee of $1.50 will be deducted from your Direct Express card account for each transfer made.
To transfer funds, call the Direct Express Card toll-free Customer Service Department number on the back of your card or login to your account.
For help with reaching a live person at Direct Express, see our post on how to speak to a live person at Direct Express.
If you need help logging into your Direct Express account, see our .
Who Is Eligible For The Social Security Debit Card
Anyone who receives Social Security or Supplemental Security Income benefits is eligible to use this card.
Because its a prepaid debit card, you can only use your Direct Express Social Security debit card if you have funds in your account. Once youve spent or withdrawn your entire account balance, youll have to wait for your next monthly disbursement to use your card again.
You cannot deposit personal funds onto the card. You must open a separate bank or prepaid card to deposit personal funds.
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What Time Does Direct Deposit Post For Payroll
However, from an employer standpoint, all payroll has to be sent electronically to the federal reserve system. For payroll, employers have to be sure they submit the payroll on the right day.
- There are a lot of payroll services who have payroll software that will handle this but there has to be enough lead time for the payroll to transfer to employees on payday. The lead time is the time span between when employees receive their direct deposits and the day that employers submit the payroll.
- Each payroll software and direct deposit service have different lead times when it comes to submission. Some will need payroll anywhere from 1 to 4 business days before payday.
- Once the payroll service or software has transferred the earnings to financial institutions, its the individual bank that actually determines when direct deposit will be received.
- Each bank has their own direct deposit times that determine when they update their customer accounts and pull this money from financial institutions.
If a payroll software service is used, most of these issues will be handled so business owners can focus on running their business and not on payroll related issues.
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How Do I Pay Bills With Direct Express
Yes, you can pay bills online with your Direct Express card under one condition:
However, the merchant has to process the transaction like a credit card transaction.
If the company you are trying to pay asks for information like a routing number, you wont be able to do that with your Direct Express card.
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Whats The Difference Between A Direct Deposit And A Wire Transfer
Direct deposits and wire transfers serve the same purpose. They get money from Point A to Point B. Both are forms of electronic money transfer that most banks and credit unions offer as a core service. The difference is that wire transfers typically cost money. The price varies between financial institutions, but you can expect to pay $15 to $50. Many people use them as a one-time transfer as opposed to direct deposits, which are recurring payments. Wire transfers are much faster than your everyday direct deposit. Instead of going through the five-step process mentioned above, the transfer goes between banks. The straightforward process allows your money to arrive in a fraction of the time of other options.
What Are The Alternatives To Direct Deposit
The most obvious alternative is a cash or check. The odds are that both of these options will soon go the way of the dodo and disappear. According to the Times of India, 92% of money exists online, while some employers do not allow employees to receive physical paychecks.
Another option is PayPal, an online payment platform with millions of users worldwide. It lets you buy, sell, and send money without disclosing your financial information. PayPal even enables you to access funds from a debit card or check. The problem is that PayPal charges independent contractors for every transaction. Receivers must pay 2.9% in addition to a 30-cent fee for each transfer.
If you earn $50,000 per year after taxes, PayPal slashes that number to $48,550. Youâre paying $1,450 to use PayPal, while direct deposits are free. Western Union stands out as one of the most well-known financial services providers in the world. It opened in 1851 and moved more than $300 billion in 2018 alone. The company also operates in more than 200 countries and handles 130 currencies. Western Union has the same drawbacks as PayPal. You have to pay for a service that many places offer for free. Western Union makes sense if you want more superior speed than regular direct deposits.
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Paperwork Reduction Act Notice
This collection of information is authorized by OMB Control No. 1510-0007. The estimated average time associated with filling out a paper direct deposit enrollment form is 10 minutes per respondent or record keeper, depending on individual circumstances. The estimated average time for completing a direct deposit enrollment online is approximately five minutes.
American Express: An Overview
- Headquarters: New York City
American Express is an American financial and travel services corporation with operations in more than 110 countries. Its primary products include charge cards, credit cards, financial services, and travel-related services like traveler’s checks. The company, commonly referred to as Amex, markets these products to consumers, business owners, and corporations across the globe.
Founded in 1850, the company is the world’s largest payment card company by purchase volume with more than $870 billion in total global spending billed with more than 68 million cards in circulation, as of Dec. 31, 2020. The company reported net income of $3.1 billion on revenue of $36.1 billion for the 2020 fiscal year.
The company’s executive team is made up of:
- Stephen Squeri, chair and chief executive officer
- Jeffrey Campbell, chief financial officer
- Marc Gordon, executive vice president and chief information officer
- Monique R. Herena, chief colleague experience officer
- Rick Petrino, chief operating officer
- Elizabeth Rutledge, chief marketing officer
- Laureen E. Seeger, chief legal officer
- Jennifer Skyler, chief corporate affairs officer
- Anre Williams, chief executive officer
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Is Early Direct Deposit Right For You
People agree on few things unanimously. Early direct deposit is one of them. As long as you have a bank account, itâs an ideal way to receive payments from work or the government. Early direct deposits make your life easier. You get your money on payday without having to wait for it to process. Some prominent financial institutions, like Navy Federal Credit Union, have already made it a standard part of their banking services.
What Is A Bank Transit Number
A bank transit number, also known as a routing number, is a nine-digit number that helps financial institutions identify what institution issued checks or other documents financial documents. Transit numbers have been around for over 100 years, and they help to keep track of and facilitate transactions between customers at different banks. Most people encounter transit numbers when setting up direct deposit payments or when transferring money between banks.
Do you have questions about how your bank account can contribute to your long-term financial plan? Speak with a financial advisor today.
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The Use Of Direct Express Card
Direct Express becomes a very profitable card for anyone who holds it. The card, formerly called Direct Express Emergency Cash, has now changed its name and comes with the best service. This card can be used to withdraw funds, especially if you have lost your Direct Express MasterCard debit card. So if your Direct Express card is lost then you can immediately contact customer service.
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This customer service can be contacted by making contact with the customer service number listed on the back of the card. Of course, you will get the best service so that the customer who loses the card can immediately get handled and get a new card. The use of this card may require a fee that you have to spend.
The amount of the cost also depends on the transaction made using this card. Although it has to cost money of course all services that can be obtained from the use of Direct Express cards are certainly very satisfying until this product is highly recommended for you.
What Time Does Direct Deposits Go Through
The time frame for electronic deposits depends a lot on the agreement with your bank. It also depends on the agreement with your bank and the Automated Clearing House.
If you are using starter checks, the money still wont be available until the bank updates their accounts.
There are a lot of different factors that affect the time the deposit goes through.
For example, the ACH requires that banks post their deposits within two days. Some transactions are required to post within a day. If you are depositing third party checks times could be affected as well.
However, there can be delays sometimes on the part of the banks.
The main reason for this is because of the banks reserve obligation. Banks have to make sure they have enough reserves on hand to cover the deposits of its account holders.
A banks reserve doesnt have to be 100%, but there is a reserve ratio that banks do have to meet.
This situation wont be common for small $1000 deposits, but rather for larger multi-million dollar deposits.
When a significant deposit is made such as $2,000,000, a bank has to make sure that the bank has enough cash on hand to meet the bank reserve ratio.
With larger deposits, comes more money necessary from the bank to meet its reserve.
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Card And Pin Securityreport Lost Or Stolen Card
You agree not to give or otherwise make your Card or PIN available to others. If you do, you will be responsible for any Transactions they conduct, even if they exceed your authorization. For security reasons you agree not to write your PIN on your Card or keep it in the same place as your Card.
If you believe your Card or PIN has been lost or stolen or that someone has or may transfer or take money from your Card Account without your permission, report it by calling the Customer Service number below as soon as possible. You can also write to us at Direct Express®, Payment Processing Services, PO Box 540190, Omaha, NE 68154-0190 or visit our website at www.usdirectexpress.com. Calling us is the fastest way to report this loss. Once your Card or PIN is reported to us as lost, stolen or destroyed, your Card will be cancelled, and you will have no liability for further Transactions involving the use of the canceled Card.