One of the most well-functioning institutions in the United States is the Social Security Administration. The SSA has a calendar where all the payments related to the benefits of American pensioners are listed. Therefore, to find out on which day we will receive one of these checks we only need to check the Social Security calendar.
However, it is important to remember that in the Social Security calendar we can find the day on which the Administration sends the money. This does not mean that retirees will receive the money on that same day. It means that the Administration makes the transfer of the money, so we could say that the money is on its way.
In order to receive this money we have two main ways. In addition to these two ways, in the past there was one way which was a physical check. Social Security stopped paying pensions this way a long time ago, although many retirees think otherwise. In order to receive a check from Social Security we must have either a bank account or use Direct Deposit. Which method do you use?
Receiving Social Security the Fastest Way
These two ways of collecting your Social Security benefit, by bank deposit or Direct Deposit, are different. However, they are really the same in essence. At the end of the day, the Administration will send us payment of the check to one method or the other regardless of which method we choose.
But the main difference lies in the speed of the methods. In order to get a check instantly and immediately, we need Direct Deposit. The Social Security money will appear in this method at the same time the Administration sends it. On the other hand, cashing the pension check through Direct Deposit means waiting up to 3 days.
Apart from this difference in speed, there is no other notable difference. Each person can choose the bank they prefer, although Direct Deposit can also be received in different ways. Whatever we do, we can know that receiving checks immediately is possible if we notify Social Security that we have this collection method active.
When does the SSA pay pensions?
Remember that the Social Security Administration’s payment days are the second, third and fourth Wednesday of the month. On each of these days, a different group of retirees will receive a check in their bank account or Direct Deposit and we just need to know which group we belong to to determine on which day we will get the money.
In the month of March, the exact payment days are the 8th, 15th and 22nd. To this we must also add the payment days for Supplemental Security Income, a benefit that Social Security also pays through Direct Deposit. SSI arrived on the 1st of March and will have a second check on the 31st of the same month, although it actually belongs to the April calendar.