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Government to shift all payments to electronic transfers by 1999
The federal government will begin making all payments electronically on January 2 1999 excluding tax refunds. About half of the 1 billion annual payments to federal employees vendors and Social Security recipients are already electronic and the pace is rising. Direct deposits cost about two cents versus 43 cents for checks, saving an estimated $100 million yearly.
MENTIONED IN THIS ARTICLE
John D. Hawke Jr
Treasury
House Banking Committee
Hawke
Treasury Department
d@ pam wersay