Talk about solving one problem and creating another!

More than four million people who do not have bank accounts now have the option of having their Social Security payments transferred directly onto a pre-paid MasterCard debit card.

The Treasury Department says this will be more reliable because there were 700,000 reports of lost or stolen checks last year. Of course, it also saves the government money by not having to mail the checks, and the government says it will save recipients from having to pay fees at check-cashing facilities.

So sign up if you're eligible, right?

NO!

If you do not have a bank account in which to have your Social Security check deposited, get to your local bank ASAP and set one up. Chances are you can establish a simple account with little or no fees. Have your Social Security check deposited directly into your account.

Believe us, this is a much better and safer way to get your benefits.

If this is not an option (although we can't imagine why), continue to have your check mailed to you – even if you have to pay a few bucks to cash it. Cards with a MasterCard (or Visa) logo on them are particularly dangerous if they get into the hands of a thief because they can use them without a PIN.

For more on the dangers of debit cards, read Debit Card Warning!

The government has taken it another step further - now there are 401k debit cards. You can guess our opinion on these! Check out our scoop on the dangers of 401k withdrawal.