EFT stands for Electronic Funds Transfer Direct Deposit – A Safer, Easier Way to Get Your Benefits With direct deposit, your payment goes straight into your checking or savings account, so your money is there on your pay day – on time, every time. Direct deposit also protects you from fraud, lost checks and identity theft. In fact, no direct deposit payment has ever been lost or stolen. The U.S. Department of the Treasury and the Federal Reserve Bank have made signing up for your gov
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