WASHINGTON – With Americans poised to celebrate the 40th anniversary of Earth Day this week, the U.S. Department of the Treasury today announced a broad new initiative to dramatically increase the number of electronic transactions that involve Treasury and millions of citizens and businesses, a move that is expected to save more than $400 million and 12 million pounds of paper in the first five years alone.
In addition to greatly reducing costs, enhancing customer service and minimizing Treasury's environmental impact, the move from paper to electronic transactions will increase reliability, safety and security for benefit recipients and taxpayers.
Moving to more direct deposit, the use of Treasury's Direct Express debit cards, and fewer paper T-Bills.
"Treasury must lead the way in developing methods to deliver payments that are safe and secure in a manner that is efficient and reliable," said Treasury Secretary Tim Geithner. "By moving to all-electronic payments, Treasury will save hundreds of millions of dollars and substantially reduce our environmental impact, making this a win-win for all Americans."
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