Key Social Security change for 3.6 million beneficiaries starts this month
A transition affecting about 3.6 million beneficiaries began in June; rollout timing depends on when you started using your card.
The vast majority of the country’s 75 million-plus Social Security beneficiaries receive their benefits via direct deposit into their bank accounts. Some, however, receive their monthly payments via a prepaid Mastercard designed to provide an alternative for those without a traditional bank account.