When a United States citizen only has one source of income it is important to know the day they get it. In the case of Americans who only collect Social Security, of which there are many, knowing when they have the money available is really vital for their economy.
And within knowing the day on which they get the payment, the collection method plays a fundamental role. Using one form of collection to get Social Security is not the same as using another. In general, there are two ways to get the monthly benefit and one of them is really faster and more efficient.
Even so, each American must choose the fastest collection method. This is important because not all citizens must choose the same collection method for Social Security. It really matters to have a choice and the Administration gives us the option to choose which one is more convenient for us.
Even if one of these collection methods is faster, the truth is that not 100% of Social Security beneficiaries need to get their money as soon as possible. That’s why choosing the method that works best for you is so important.
How do you get Social Security as quickly as possible?
As we have already mentioned, there are two main ways to get your monthly Social Security payment. These two ways are Direct Deposit and direct transfer to the bank account. The Direct Deposit method is faster than the other.
Thus, if we choose Direct Deposit we will have the benefit money at the very moment when the Administration sends it. So if you choose this collection method you will not have to wait even one day to be able to use the money for what you need.
On the other hand, choosing the bank deposit method is also a good option. Although it is true that the money will take a few days to arrive, what is certain is that it will arrive anyway. So we will have the money available two or three days later.
Ultimately, choosing the right collection method to get your Social Security will depend on your preferences. If we need to get the money as soon as possible, Direct Deposit is the best option. If not, we can wait a few days and get it through bank deposit.