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September 08, 2025
Media Contact: DIFS-press@michigan.gov
Consumer Hotline: 877-999-6442, Michigan.gov/DIFScomplaints
FOR IMMEDIATE RELEASE: September 8, 2025
(LANSING, MICH) The United States Treasury has announced that the federal government will phase out paper checks on September 30, and the Michigan Department of Insurance and Financial Services (DIFS) is urging individuals without an account at a bank or credit union who make payments to, or receive payments from, the federal government via check to visit MI Open Accounts to find an account with guaranteed low-cost and transparent fees.
“The fastest and most secure way to receive payments from the federal government is through direct deposit to an account with a bank or credit union,” said DIFS Director Anita Fox. “Low- or no-cost accounts are available at more than 30 banks and credit unions across Michigan through the Michigan Open Account Coalition (MOAC). To learn more about MOAC and to find an account, visit Michigan.gov/DIFSOpenAccount.”
The federal government has released a Fact Sheet regarding the transition with more information for consumers about impacted transactions.
Through the MOAC, Michiganders who do not currently have an account at a bank or credit union can find federally insured low- and no-cost accounts without unexpected fees. Using MI Open Accounts is a safe and convenient way for anyone without an account to build a relationship with a financial institution. These accounts are easy to understand, user-friendly, have no surprise fees, and are insured up to $250,000 per accountholder according to federal guidelines.
MOAC is a partnership between DIFS, the Michigan Bankers Association, the Michigan Credit Union League, and community organizations to encourage relationships between financial institutions and historically underserved communities, to educate consumers about the importance of having a relationship with a financial institution, and to ensure that consumers have access to predictable low- and no-cost accounts.
To learn more about MOAC, visit Michigan.gov/DIFSOpenAccount. For more information or if you have questions or concerns about a financial institution, call DIFS Monday through Friday 8 a.m. to 5 p.m. at 877-999-6442 or visit Michigan.gov/DIFScomplaints to file a complaint.
The mission of the Michigan Department of Insurance and Financial Services is to ensure access to safe and secure insurance and financial services fundamental for the opportunity, security, and success of Michigan residents, while fostering economic growth and sustainability in both industries. In addition, the Department provides consumer protection, outreach, and financial literacy and education services to Michigan residents. For more information, visit Michigan.gov/DIFS or follow the Department on Facebook, X, or LinkedIn.
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