The Social Security Administration (SSA) will stop issuing paper checks at the end of this month, in a change that affects hundreds of thousands of beneficiaries across the U.S.

The shift follows months after President Donald Trump issued an executive order in March mandating all federal payments be made electronically beginning Sept. 30, through means including direct deposit and credit cards. Paper-based payments are more costly and vulnerable to fraud, theft, errors and delays, according to the White House.

"Less than one percent of Social Security Administration beneficiaries currently receive paper checks," an SSA spokesperson told FOX Business in an email. "… Where a beneficiary has no other means to receive payment, we will continue to issue paper checks ."

As of September,

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