Electronic Direct Deposit:

YOUR SAFEST

WAY TO GET

YOUR MONEY

Pension Benefit Guaranty

Corporation

www.pbgc.gov
What is Electronic Direct Deposit?

Electronic Direct Deposit (EDD) 

transfers money from PBGC to 

your account at your bank or other 

financial institution.

How safe is Electronic 

Direct Deposit?

Very safe. Social Security uses direct 

deposit to deliver payments to more 

than 37 million customers each 

month. The U.S. Government uses 

it to pay its payroll and retirement 

benefits. Currently about threefourths of PBGC’s customers receive 

their benefits by direct deposit.

What are the advantages to me?

Instead of receiving a check in the 

mail as late as the seventh of the 

month and taking the check to 

your bank, your money is ready 

and waiting for you on the first of 

the month even if you are away 

from home or mail is delayed due 

to inclement weather or other 

uncontrollable circumstances. 

Checks waiting for pickup in 

unattended mailboxes are easy 

targets for identity theft. With 

direct deposit you don’t have 
to worry about lost, stolen, or 

misplaced checks.

How do I sign-up for direct deposit?

Use our online service, MyPBA, at 

www.pbgc.gov/mypba or, if you 

prefer, call us at 1-800-400-7242. 

[People with a hearing disability 

should call 1-800-877-8339 and ask to 

be connected to 1-800-400-7242.]

What information will I have 

to provide?

Please have ready the following 

information, which is on your bank 

statement or deposit slip, or you can 

call your bank or visit their Web site.

•	Your bank’s name and address;

•	Your account number;

•	Your account type (savings or 

checking); and

•	Your bank’s 9-digit routing 

number.

The sample check below shows the 

location of your account number and 

the bank’s 9-digit routing number.
If you prefer filling out an Electronic 

Direct Deposit application form, call 

us at 1-800-400-7242. [People with a 

hearing disability should call 1-800-

877-8339 and ask to be connected to 

1-800-400-7242.] You can also obtain 

this form through our Web site at 

www.pbgc.gov/docs/710.pdf or by 

writing us at 

Pension Benefit Guaranty Corporation

P.O. Box 151750

Alexandria, VA 22315-1750

How can I be sure my financial 

institution will accept a 

direct deposit?

Almost all financial institutions in 

America can accept funds this way. 

Call your financial institution or visit 

their Web site to be sure.

I don’t have an account at a 

financial institution. Can I still use 

direct deposit?

There are special low-cost accounts 

known as Electronic Transfer 

Accounts (ETA) available to people 

who receive a benefit from the 

federal government. To find out 

where you can open an ETA, call 

1-888-382-3311, toll-free, or visit 

www.eta-find.gov. 
Financial institutions offering an 

Electronic Transfer Account will have 

the ETA logo posted in their window.

On what day each month will my 

benefit payment be deposited and 

how will I know?

Instead of receiving a check in the 

mail as late as the seventh of the 

month and taking the check to your 

bank, your benefit payment will be 

deposited on or before the first day 

of each month. You can confirm the 

deposit through whatever means 

your financial institution makes 

available such as telephone banking, 

automated teller machines (ATM), 

or computer banking services. Also, 

the deposit will be on your monthly 

statement, just like any other deposit 

to the account.
Publication PBGC PS-11

July 2009

What if something goes wrong?

Direct deposit eliminates many 

possible problems with benefit 

payments, particularly mail delay. 

But if there is a problem, just call us 

toll-free. We will quickly straighten 

things out.

PBGC’s Customer 

Contact Center:

1-800-400-7242

PBGC’s Online Service, 

MyPBA:

www.pbgc.gov/mypba.

What if I don’t want my benefit 

electronically deposited?

Then you don’t have to use this 

service. Although direct deposit 

is more convenient and safer, we 

understand that not everyone wants 

it done that way. If you decide that it 

would cause you a hardship, you can 

receive your monthly benefit check 

by mail.