The moment a United States citizen begins receiving a Social Security benefit, he or she must choose the method of collection. This point is more fundamental than many Americans think. The choice of how we will receive the disability benefit money will make whether we get a check sooner or later.
Choosing the best collection method is entirely up to us. No one can force us to choose one collection method or another, but we need to know what the options are so we can decide later. If we do not know the available options we will not be able to decide which one we like best. Even so, regardless of the collection method we choose, we will still receive a check every month.
But we have to watch out if our financial planning is around the Social Security disability check. If you don’t choose the fastest collection method, the money could take too long to arrive. So make sure you choose wisely to avoid a lot of problems. Which Social Security disability payment method do you prefer?
Methods of collecting disability benefits
Any method of choosing a Social Security disability benefit is good. We will always receive the check, regardless of the method chosen. It is important to keep this in mind so that we can choose with more peace of mind.
On the other hand, if we choose the right collection method, the money will always arrive sooner. Here are the two options for cashing your Social Security disability check:
- Direct Deposit.
- Classic transfer.
On the one hand, Direct Deposit is by far the fastest method. Thanks to this method the money will be immediately in our bank account. Therefore, it is the option we should choose if we do not want delays in our check.
Choosing the other collection method, the classic transfer, could delay things a bit. Still, we would end up getting the money anyway. However, it could take up to 3 days for it to show up in our bank account.
Upcoming Social Security Payments
Social Security payments have already started to arrive to all Americans in the month of May. Last May 1st was Supplemental Security Income payment day. This benefit is not for all retirees, as it is only for the neediest citizens. Beneficiaries with disabilities and those over 65 years of age who have low income can apply for SSI.
The second day of the May calendar is the 3rd and is for only one group of retirees. Specifically, only post-1997 retirees can receive this check from Social Security. All other beneficiaries receive it in the next few weeks.
The immediate next check in May will be on the 10th. This check is for post-1997 retirees born between the 1st and 10th. After this payment, the next payment will be on the 17th and the last payment will be on the 24th of May.