Although the Social Security Administration sends payments in a timely manner to all retirees in the United States, retirees may not receive the money in the same way. There are several ways to receive your Social Security check and some of them have a major advantage. In order to receive the payment as quickly as possible, it is mandatory to have one of these ways activated. Otherwise, it may take up to 3 days for the money to reach your bank account.
In this regard, it does not matter whether we are talking about retirement or disability benefit. Both types of payments are the same for Social Security. While it is true that the maximum amount is not the same in these two modalities, for practical purposes of receipt they are the same. In addition, it must also be taken into account that each person is totally different with respect to the amount of the checks, since all Social Security benefits are individual.
Not only that, but also the Supplemental Security Income payment arrives immediately using this method. It is, without a doubt, the fastest and most efficient way to receive a retirement or disability benefit. These are the two most common methods that retirees in the United States use to receive Social Security. Which one do you use to collect your retirement?
Ways to collect Social Security
There are two main ways, as previously discussed, to receive Social Security. These two ways are totally valid and either of them is perfect to receive the benefit. The only difference between them is the speed. Each retiree can choose the method he/she likes best.
- Direct Deposit. The fastest way to receive Social Security. This way of receiving checks is automatic. There is no waiting to get the benefit in your pocket. As soon as the SSA sends the payment, Direct Deposit users can spend the money. In addition, it is not necessary to have a bank account to activate it.
- Bank account. This is the most common and classic way to receive any payment from Social Security. It is also an effective method, but slower than Direct Deposit. It may take up to 3 days for the SSA money to appear in the bank account, although this is not always the case. Sometimes it may arrive sooner, but there are times when it may take even longer.
Remember that Social Security payments are always sent on the second, third and fourth Wednesday of the month. Depending on your date of birth, you will receive the money on one Wednesday or the other.