Social Security checks always arrive to beneficiaries in the United States on the same days. Well, it’s true that this is not exactly the case, but we can say that the Social Security Administration sends checks on a schedule that is almost the same every month.
Thanks to this schedule, Social Security beneficiaries are able to organize their household finances. This is because many retirees have only the retirement benefit as their only monthly income. In addition to this group, some families with a user with a disability have that as their sole source of income.
This is not recommended, but it is quite common. That is why we must monitor each and every item surrounding Social Security checks. If we are expecting to receive the retirement payment as soon as possible we must activate a particular collection method. If we don’t, not only could the money arrive later, but it could even be lost.
However, nowadays it is very difficult for Social Security money to get lost, since all transactions are done electronically. Still, to make sure that the money will arrive safely we must activate a particular collection method.
Which collection method should we activate so that Social Security will not be lost?
The specific collection method we are talking about is Direct Deposit. Usually, Social Security proposes two options for cashing the retirement check. The first of these options is the most commonly used and the most classic, which is the bank account transfer.
The other way to cash the Social Security check is Direct Deposit. The second of these ways of receiving the retirement check is the safest and fastest. This is because the money appears immediately for those who have activated this method of collection. On the other hand, receiving check via wire transfer means that it can take up to 3 days for the money to arrive.
How does Direct Deposit affect the speed of receiving retirement payments?
To understand how advantageous it is to activate Direct Deposit when it comes to receiving a Social Security check, let’s look at an example. If we collect the benefit on the second Wednesday of the month, in this particular month it would be the 12th of April, the check would arrive these days according to the method:
- Classic bank transfer. The money could appear from the 12th to the 17th of April due to the fact that there is a weekend in between. It is not usual to receive it on the same day of the cashing and also not in the following week, but nobody assures an exact date.
- Direct Deposit. On the 12th day we will receive the Social Security payment. With this method of payment we would have the benefit assured, so we would not have to wait even one day to receive it.
It is a much faster and safer method, since we will not have to wait a single day and we will be able to pay all our bills without the need to wait a moment longer.
When will Social Security send the next check?
The next Social Security benefit will be mailed on April 26th. This is the last of the payments the Administration will make this month. After this payment, we will have to wait until May to receive a new benefit.
Within the month of May we will find ourselves with the usual payment schedule, since there is no irregularity. Social Security beneficiaries will receive their benefits on the 3rd, 10th, 17th and 24th days. The exact day of payment will depend, as every month, on the year of retirement and the day of birth of each user.
In addition to these payments, the Social Security Administration will also send the Supplemental Security Income payment. This payment will be sent on the 1st of the month and will be sent to retirees with this previously accepted benefit. Remember to activate Direct Deposit if you want to receive your check on the same day it is mailed.