Paper checks from Social Security will be history in a few months as the U.S. Treasury completes the switchover from paper to electronic checks.

Back in April 2011, the U.S. Treasury announced it would switch to an electronic payment method for “baby boomers” and others signing on for Social Security, veterans’ affairs payments or other benefits. Everyone who started receiving benefits after then, was enrolled for electronic payments, i.e. to a bank account.

Meanwhile, all others who had been receiving paper checks would have until March 1, 2013 to switch over to direct deposit.

If you don’t, the U.S. Department of the Treasury may send your benefits via the Direct Express card program to avoid an interruption in payment.

It’s safe, quick and convenient. You can sign up at your bank, credit union or savings and loan. Or call Social Security at 1-800-772-1213 (TTY 1-800-325-0778). Remember, you must do this by March 1.

More than 18 million “baby boomers” will reach retirement age in the next five years, with 10,000 people a day becoming eligible for Social Security benefits. According to the U.S. Treasury, it costs 92 cents more to issue a payment by paper check than direct deposit and this change is expected to save taxpayers $1 billion.

The direct deposit is also safer. More than 500,000 Social Security and SSI checks are reported lost or stolen in an average year.

Current check recipients must switch to electronic payments before March 1, 2013. Switching from checks to direct deposit is fast, easy and free online at www.GoDirect.org, by calling the U.S. Treasury Electronic Payment Solution Center’s toll-free helpline at 1-800-333-1795, or by speaking with a bank or credit union representative.

If you do not choose an electronic payment option by March 1, 2013, or at the time you apply for federal benefits, you will receive your payments via the Direct Express card so you will not experience any interruption in payment.

Anyone already receiving federal benefit payments electronically will continue to receive their money as usual on their payment day. No action is required.