- Slice of Finance
- Posts
- BNY Mellon Selected as Financial Agent for Direct Express®
BNY Mellon Selected as Financial Agent for Direct Express®
Slice of Finance Team
03 Dec
Key Highlights:
BNY Mellon selected as the financial agent for the Direct Express® program starting January 3, 2025.
Enhanced features include virtual cards, cardless ATM access, and improved customer service.
Transition to new services will begin spring 2025, ensuring seamless support for 3.4 million beneficiaries.
Continued focus on financial education resources through the Financial Education Center.
Source: Bureau of Fiscal Service
Notable Quote:
“Since 2008, the Direct Express program has paid federal beneficiaries seamlessly, inclusively, and securely, while sparing taxpayers and customers the costs and risk associated with cashing paper checks.”
Our Take:
This strategic partnership between the Bureau of the Fiscal Service and BNY Mellon marks a pivotal moment for federal beneficiaries relying on Direct Express. By introducing innovative solutions like virtual cards and cardless ATM access, the program aligns with the Treasury’s commitment to modernizing financial services for underserved communities. The transition ensures continued security, convenience, and inclusivity, underscoring the government's dedication to enhancing the customer experience in federal payment systems.