This browser does not support the Video element.
Treasury Dept. unveils plan to kill the penny
The U.S. Mint will officially stop making pennies once its final stock of penny blanks is used up, a Treasury official confirmed in May. While no specific end date was given, the decision effectively marks the beginning of the end for the 1-cent coin.
The Treasury Department will no longer issue paper checks for most federal benefit payments starting at the end of September.
The government made the announcement Thursday in a news release.
Why is the Treasury Department phasing out paper checks?
What they're saying:
"Reducing paper checks has been a longstanding bipartisan goal that our administration is finally putting into action … This will help reduce fraud and theft. It will also remove delays that prevent hardworking Americans from receiving their vital payments," Treasury Secretary Scott Bessent said in a statement.
READ MORE: Young Americans could lose $110,000 in career earnings to keep Social Security afloat
FILE - Blank Social Security checks are run through a printer at the U.S. Treasury printing facility February 11, 2005 in Philadelphia, Pennsylvania. (Photo by William Thomas Cain/Getty Images)
Timeline:
Paper checks will end on Sept. 30, 2025.
What you can do:
If you already receive federal benefit payments electronically, no action is needed.
Anyone who still receives paper checks – including veterans benefits, Social Security or any other government payment – will have to switch to an electronic payment method before the end of September.
RELATED: Here's how much Social Security payments are projected to increase in 2026
If you’re not sure how to make the switch, you can call the Electronic Payment Solution Center at 800-967-6857, Monday – Friday 9 a.m. - 7 p.m. ET, or call the federal agency that pays your benefits and follow their instructions for enrolling in direct deposit:
- Social Security Administration (SS and SSI benefits): (800) 772-1213
- Department of Labor (black lung): (800) 347-2503
- Department of Veterans Affairs: (800) 827-1000
- Railroad Retirement Board: (877) 772-5772
- Defense Finance and Accounting Service: (800) 321-1080
- Office of Personnel Management (Civil Service): (888) 767-6738
You can enroll online with your bank account information at GoDirect.gov. If you do not have a bank account to receive direct deposit you can go to FDIC: GetBanked or MyCreditUnion.gov for help.
READ MORE: Trump's tax law will benefit the rich at the cost of the poor, CBO analysis finds
You can also sign up for a Direct Express Debit Mastercard, a Treasury-sponsored debit card where you can receive your monthly benefit payments electronically.
Dig deeper:
The Treasury Department urges benefit recipients to be aware of potential scammers impersonating the government.
"Before responding to a request, check it out and verify it by contacting the agency using a website or phone number you know is real," the agency says. "If you’re unsure, ask a trusted source, like your bank, a friend or family member for help."
The Source: This report includes information from the U.S. Treasury Department.