February 7, 2013
When a person is approved for unemployment or Workers’ Compensation benefits, the money they receive is directly deposited into an account that can be accessed through the use of a debit card. After state officials received thousands of complaints of beneficiaries being charged astronomical fees to access their accounts through certain banks, the state took action to solve the problem.
According to CBS-Philly, approximately 150,000 recipients of unemployment or workers compensation benefits are being issued a debit card through JP Morgan Chase Banks, which their funds will be loaded onto beginning March 1. The cards will eliminate nearly $5 million in fees accrued annually by offering recipients unlimited in-network ATM cash withdrawals.
Some of the fees that will be eliminated include those that recipients incur for moving funds from the account in which benefits are issued to a personal account.
The fees leave many citizens questioning where else beneficiaries may be losing money. The fact is, many of those who qualify for such benefits never actually receive them. This could be due to a denial of their claim or by simply not filing for benefits following an accident or loss of work due to the belief they will not qualify.
The Philadelphia Injury Lawyers with Lundy Law urge anyone who has been hurt on the job and is out of work to contact an attorney immediately to discuss your legal options.