A big change is coming to Social Security payments this month

Starting on Sept. 30, the Social Security Administration will stop using paper checks for benefit payments.

The SSA will move exclusively to electronic payment options, aiming to increase efficiency, security and timely delivery of payments.

The change will also allow the government to save millions of dollars annually, according to the SSA. Paper checks cost around 50 cents per check, whereas electronic payments cost 15 cents.

"This change is part of a broader government-wide initiative to modernize payment systems and enhance service delivery," an SSA press release reads.

The options available for people who still receive paper checks are as follows:

• Direct Deposit: Beneficiaries should enroll in direct deposit with their financial institution. Payments can be deposited directly into your checking or savings account.

• Direct Express Card: For people without a bank account, the Direct Express card is a prepaid debit card designed specifically for federal benefit payments.

Payment information can be updated anytime through your personal my Social Security account online, by calling 1-800-967-6857 or visiting your local SSA office.

For more details on the change, visit www.ssa.gov/deposit/.

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