MFPRSI makes monthly benefit payments by electronic funds transfer (i.e., "direct deposit") to the financial institution chosen by the member or beneficiary. Each month MFPRSI sends a benefit statement to each individual receiving benefits by direct deposit.
Why the System Uses Direct Deposit
Prompt access and convenience for the payees are obvious benefits of the direct deposit program. Additionally, safety, and confidentiality are additional advantages. Direct deposit is the safest way to get the payment into your account without having to worry about lost, stolen, or damaged checks.