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US Treasury launches Direct Express debit card

Wednesday 11 June 2008 14:59 CET | News

The US Department of the Treasurys Financial Management Service (FMS) has made available a prepaid debit card for social security payments, targeting customers without bank accounts. The Direct Express Debit MasterCard card is being introduced in ten states and will be rolled out nationwide during the summer of 2008.

Via the Direct Express card, customers can make purchases, pay bills and withdraw cash from ATMs and retail locations. FMS delivers payment services to federal agencies and operates the federal governments collections and deposit systems. FMS provides accounting and reporting services, is responsible for the collection of USD 3.7 billion per year in delinquent debts owed to the federal government and collects USD 3.1 trillion per year, representing government revenues.


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